The Ibex celebrates advances and banking recommendation on clauses soil – Yahoo Finance Spain

MADRID (Reuters) – The Ibex-35 of the Spanish stock market consolidated the upward trend of the week at midday on Wednesday, supported largely on good behavior of the most exposed to soil amendments thereto to endorse an adviser to the EU court non-retroactivity of the same banks.

The Advocate General of the Court of Justice of the EU considers that the decision of the Spanish justice temporarily limit returns in clauses called floor of the mortgage is consistent with Community law, in a non-binding decision but . that the court usually takes very seriously

the institutions most exposed were the most climbed on the market: Popular, Sabadell, BBVA and CaixaBank increases were leading Ibex-35 with increases of 4.6 percent and 1.2 percent, while outside the selective Liberbank soared 15 percent.

The rest of the sector ranged from the fall of 0.3 percent of Bankinter and 0.026 percent of Santander

“The decision of the Advocate General at the Court of the Union it has prompted European banks, and an index like the Spanish where they have a lot of weight a day that seemed correction has turned up, “said Pedro Cubillo, fund manager at MG Valores.

At the opposite end of the selective Ibex Telefónica slowed to a decline of 0.8 percent, before new rumors in the press about the sustainability of its dividend.

In 1229, the Spanish index was up 0.57 percent to 8,554.4 points, in line with European FTSEurofirst, after a return of confidence to markets after several positive news in the United States and Japan, and less uncertainty about the brexit.

also contributed to the positive trend commitments of market reforms in China, which encouraged purchases in steel values, and the first operations of corporate purchases in the UK after the referendum brexit.

“All seven or 12 days ago seemed to be going wrong, now it seems that no matter much (oil, Italian banks, brexit, employment data from the US or China), and also Wall Street takes two days beating highs, it seems that we continue to have traveled upward, “said Cubillo.

in the bond market, the risk premium was fixed on the 127 basis points, its lowest level since month of March. This morning the European economic commissioner Pierre Moscovici pointed to the excessive deficit in Spain and Portugal could end without penalty if the two countries provide sufficient guarantees to correct the fiscal imbalance.

On the other hand, inflation data June confirmed that the downward trend in prices continues to moderate.

the ArcelorMitall and Acerinox steel rose 3.3 percent and 2.7 percent, while IAG rose 0.8 percent, in a recovery of the ground lost since the British referendum

.