MADRID (Reuters) – The Spanish stock market recovered partially at the opening on Thursday after starting the month with three sessions in red by doubts over European banks while the market expects the auction of Treasury debt and stimuli that may announce later the Bank of England to combat brexit.
“Opening upward bounce from support levels. The decisions of the BoE on possible additional monetary stimulus in the UK will mark the second part of the session”, Banco Sabadell said in its morning report to clients.
economists polled by Reuters expect the body governed by Canadian Mark Carney undercut the price of money by 25 basis points to a record low of 0.25 percent, which would be the first rate cut interest since 2009, to avoid a recession in the British economy after the decision to leave the European Union.
Many experts also expect the BoE to resume a multi-million bond purchases.
In the bond market, the Spanish risk premium stood at 117 basis points.
The financial sector led the advance Ibex, along with securities linked to raw materials which were also recently hit by the weak prices.
Santander, BBVA, CaixaBank, Repsol and Arcelor rose between 1.6 percent and 2 percent.
However, were Tecnicas Reunidas after a buy recommendation Kepler, and the crowning Gamesa selective with increases of 5 percent and 2.5 percent, respectively.
Telefónica rebounded one percent and Inditex lagged behind with an increase of 0.2 percent.
The Endesa electricity rose 1.1 percent after improving its price target homes as HSBC or RBC. The latter also raised the recommendation of the value to “equal to the market.”
In the electronic market, infrastructure group OHL recovered 1.7 percent yesterday after suffering the biggest drop in its history, 24 percent, following the rating downgrade by Moody’s applied.
from the results published last Friday, traded OHL has lost more than a third of its value.
Abengoa, whose share price is highly volatile, rallied 13.6 percent between press speculation about an early agreement of its creditors to rescue the group of engineering and renewable.
At 0923, the Ibex-35 rose 104 points, or 1.24 percent to 8,367 points, while the pan-European Eurofirst 300 rose 0.5 percent
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