The Ibex (+ 2.46%) opens the week moving away from the support of 6,400 to the heat of Europe and the US
The Ibex has launched the week moving away from support of 6,400 points (+ 2.46%. 6,791 points), while Europe has rebounded strongly following the wake of Wall Street on Friday, only the CAC has closed in red. Asia has also done well this morning. It should be remembered that the Dax and Cac fell to their lowest levels since the beginning of August and the end of May, respectively, at the end of last week. At the moment, it seems that it is time to go up. The question is, How long will the hikes last?
ArcelorMittal and Sacyr they have been the clear protagonists in the Spanish market in this session. Arcelor has soared 11.28% after announcing the sale of US assets to Cleveland-Cliffs for 1.4 billion. For its part, Sacyr has sunk 20% after meeting you will have to pay around 84 million euros for the resolution of the dispute over the Panama Canal.
Almirall has also made the news. The pharmaceutical company was the only value of the Ibex 35 that ended the session with losses 4.21% after its CEO Peter Guenter left the company after accepting a new career opportunity at a larger company.
Otherwise the situation in Europe is not good as coronavirus cases rise. France recorded a record number of new coronavirus cases last Thursday, and Friday's reading was only slightly lower. At the end of last week, the Netherlands also reported a record number of new cases. Spain is also struggling with the health crisis, combined with a political tension that resulted in a sorry show on Friday, when the central government and the madrilenian they agreed in their appearances, with the first criticizing the way of proceeding of the second.
In the midst of all this, Republicans and Democrats continue to try to agree in the United States on a package of aid to alleviate the effects of Covid-19. On Friday it was reported that Democrats prepare to introduce a $ 2.4 trillion relief package And this was one of the main reasons behind the index hikes.
Also, on the other side of the Atlantic, 'The New York Times' has published that Donald Trump paid only $ 750 in federal taxes in 2016. Trump is also believed to have a personal debt of more than $ 400 million, which must be paid off in the next few years. The news does not show a positive image of the political leader ahead of the elections next November.
On the other hand, the relationship between the US and China is likely to come under greater pressure as Washington has imposed Tighter export restrictions to SMIC, the largest chipmaker in the Asian giant.
In Europe, this Tuesday the European Union and the United Kingdom resume the talks. The latest discussions have been relatively positiveaccording to Davis Frost, UK's chief negotiator.
Thus, the Ibex is on the way to ending September clearly in the negative. Autumn is complicated in the midst of so much weakness and volatility. At the moment, it falls by about 4% in the month.
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