After the rebound in the banking sector this Monday, the Ibex It opened this Tuesday with increases of almost 1%, which have accelerated to almost 3% in the middle of the session, which has led it to exceed 7,200 points. If yesterday it was the banks who pulled the car, the tourist values take the baton in a day in which the European stock markets also continue with advances of 2% on average, despite the commercial tensions between China and the United States that have led in recent hours to a give and take of sanctions against diplomats and high-ranking personalities from both countries.
All Ibex values are in green, with notable increases in IAG, which almost rises almost 7%, followed by Meliá (+ 6.46%), on the roller coaster of volatility to which these titles have us accustomed. ACS has risen close to 4.6%While Banco Sabadell, which closed with a 9% boom on Monday, ranks 4%. "Despite the significant increases in recent days, everything remains exactly the same, nothing has really changed. Only above 0.40 euros will we begin to look at the title with different eyes"writes José María Rodríguez, technical analyst at Bolsamanía. As for the increases in the Ibex, the expert warns that" in the very short term, everything points to the fact that we are experiencing a little rebound which fits perfectly into what would be a simple little pull back without importance. "
In the field of macro references, the unemployment rate in the United Kingdom has fallen to 3.9% and the data on the confidence of German institutional investors for the future has also been released. According to the index of the Leibniz Center for European Economic Research (ZEW, for its acronym in German), there was a substantial increase in August compared to the previous month, when has risen to 71.5 points from 59.3 the previous month, which is the best reading of the data since January 2004.
The Turkish lira, closely followed by BBVA's currency exposure, made headlines again after the Central Bank of Turkey announced that it will halve the liquidity limits offered to primary traders, after the new historical lows of the Ottoman currency against the US dollar and the euro last Friday at 7.355 per dollar and 8.70 per euro, on which the currency has continued to hover. The country's President Recep Tayyip Erdogan said on Monday that he wants to cut interest rates further, even after a series of cuts this year amid attempts by central bankers to combat the economic impact of Covid-19. The market, by contrast, expects rates to be raised as a measure to contain the currency's decline.
In Asia, the Japanese stock markets have posted increases of 1.84% in the Nikkei and 2.45% in the Topix, while in mainland China the advance has been more limited, with increases of 0.3% and 0 , 11% in the Shanghai and Shenzhen compounds. The South Korean Kospi has risen 1.68%, while the ASX200 has risen 0.8%.
Investors seem unfazed by the tensions between China and the US, which are centered on Chinese tech companies and the war on TikTok. Also, Beijing has imposed sanctions on 11 U.S. citizens, including Senators Ted Cruz, Marco Rubio, Tom Cotton, Josh Hawley and Pat Toomey.
The move is a clear retaliation by the Chinese government and came after Washington said last week that it will impose sanctions on 11 people, including Hong Kong leader Carrie Lam, for her role in monitoring and "implementing the policies of Beijing's repression of freedom and democratic processes. "
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