The Ibex and the rest of the European stock markets have failed to recover from the sharp falls that marked the session on Friday (Ibex: -1.22% 7,294 points) by the tension between the United States and China. The Asian stock markets have lived a day clearly of red numbers, with declines of almost 5% in Shenzhen and about 4% in Shanghai after what China has finally ordered the closure of the US consul in Chengdu.
This decision by China comes after, this week, The US will order the closure of the Chinese consulate in Houston.
"The current situation between China and the United States is something that the Chinese side does not want," the Foreign Ministry said in an online statement picked up by CNBC.
"The responsibility falls entirely on the American side"added the statement. "We urge the US side once again to immediately reverse its relevant wrong decisions, to create the necessary conditions for the relationship between the two countries to return to normal."
The Chengdu Consular District encompasses the controversial Tibet Autonomous Region, Chongqing Township, and Sichuan, Yunnan and Guizhou Provinces.
Thus ends a week in which the Spanish selective has fallen about 2% after dthe agreement on the European Reconstruction Fund, but what it has been overshadowed by these political problems between the two main world economic powers.
Investors today have been especially vigilant about July manufacturing and services PMIs, which have exceeded expectations overall and show that eurozone companies recorded the highest growth in the last two years this month. Also, the entry of Germany and France in "recovery phase".
Next week there is an avalanche of results in Spain – with figures as important as those of Telefónica, Santander or BBVA– and Fed rate meeting.
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