Business
Friday July 3, 2015
Wall Street did not operate for a holiday
European shares, with the exception of London, they closed the week with losses of nearly 4% in the absence of agreement between Greece and its partners, and waiting for the Greek people to decide in a referendum whether to accept the conditions of creditors to receive new aid .
The main indicator of the Spanish stock exchange, the IBEX 35, was one of the big losers as it fell 5.2% in which was his second worst week of the year and the biggest since early January, when yielded 6.1%.
Even so is in line with that recorded by other European stock markets, as Milan fell by 5.4%; Paris, 5%; Lisbon, 4.4%; Frankfurt, 3.8% and London more away from the stresses of Greece and doubts about the euro, down 2.5%.
Meanwhile, index Euro STOXX 50 of the core values of the euro zone on Friday ended its worst week since December. The index fell 0.7% and recorded a weekly loss of around 5% since last Friday.
For full corralito, the Athens Stock Exchange remained closed all week, although the situation and its possible bankruptcy splashed the rest of European markets and explains, in large part, the Spanish stock market has closed in 10779.80 points a week that opened with a slump of 4.6%, the highest since August 2012 .
The cause of that bump was that Greece had broken from the previous weekend negotiations with their creditors and had called a public consultation to decide to accept or not the proposed adjustment and reform of institutions, prerequisite for a third rescue.
That same Monday Greece imposed a corralito before the massive flight of capital and after the European Central Bank (ECB) decided not to extend emergency credit line to the bank helena.
The concern for the plight of the Mediterranean country also led to the Spanish risk premium to rebound to 155 basis points, affecting mainly to the bank.
After the significant losses Monday, Tuesday, the IBEX 35, in line with the rest of Europe, reduced falls by 0.8%, pending that Greece could reach an agreement “in extremis” with its creditors, after announcing it would not pay the aid tranche maturing that the IMF midnight.
That day also finalized the current rescue program of Greece, and the European Commission offered Athens the possibility of reaching an agreement before midnight. To do this, Greece sent a proposal, which the European partners was very close to that proposed by them.
In this way, after accepting Greece the conditions imposed by creditors, the stock markets rallied and in the case of the Spanish Wednesday the rise was 1.3%, although at the end of the session, these gains were much lower than those recorded during the entire session.
And that, faced with opposition Germany, which is refusing to negotiate with Greece until the referendum.
Already on Thursday, before the new breakdown of negotiations, the main Spanish index, the IBEX 35, yielded 0.6% , pending the outcome of the consultation, which will decide the course of negotiations with Greece’s creditors.
In the penultimate session of the week, marked as in previous days by high volatility and dragged by losses in the rest of Europe, the Spanish stock market positively passed by Treasury auction where you placed 4180.54 million long-term, where the interest on the debt to ten years became cheaper.
Last Friday, a day of transition in which the European markets were also affected by China’s downward spiral, the IBEX 35 fell by 0.61%, down from 0.67% London, but higher than 0.57% in Paris; Milan 0.48% and 0.37% in Frankfurt, pending the outcome of the Greek referendum next Sunday.
Tokyo
The Nikkei index of the Tokyo Stock Exchange rose on Friday, trimming earlier losses thanks to gains in stocks in the industry banking, although caution ahead of a weekend referendum in Greece limited the overall action.
The Nikkei rose 0.1 percent to 20539.79 points, after falling 0.4 percent earlier.
No comments:
Post a Comment