The Ibex extends the falls and ends September 'asking for the time'

In the absence of what it does this Wednesday (at the moment it falls 0.6%, 6,677 points), the Ibex falls in the accumulated of the month of September by about 4%. The selective has had a complicated month, marked by the way of acting of the central banks that has not convinced anyone, by the increase in coronavirus outbreaks around the world and by the tensions between China and the United States over sanctions on the technology sector.

The Spanish index, and the rest of world stocks, are already looking at the presidential elections of November 3 in the US, which will undoubtedly be the main issue during this month of October. For now, last night's debate between Donald Trump and Joe Biden has ended without a clear winner and with many insults and interruptions, according to Reuters. Biden has an advantage in the polls, but anything can happen since they are tighter in the States.

"The first debate between President Trump and Joe Biden has not provided clear messages as they both interrupted and insulted each other," Danske Bank experts say.

"The event has been described by some as 'chaotic' as both candidates were regularly interrupted. Biden attacked the United States leader for his handling of the pandemic, while Trump questioned the ability of the Democratic candidates to have done a better job under these circumstances. Donald Trump did not confirm that he will leave the White House peacefully if he loses the election as he seems suspicious of voting by mail, "explains David Madden, an analyst at CMC Markets in London.

At the macro level, this morning China published the Caixin manufacturing PMI for September. The reading was 53, while the consensus estimate was for it to remain at 53.1. The official PMI manufacturing report for September was 51.5, a slight improvement over August 51, while the forecast was 51.2.

It should be remembered that the September CPI reading for Germany published this Tuesday was -0.4%, the lowest since 2015. In addition, Andrew Bailey, governor of the Bank of England, said that the evidence regarding rates is mixed, which seems to leave open the option of going down that route at some point. The British banking system is under pressure due to tight lending spreads and the risk of bad debts rising due to the pandemic. "If rates turn negative, that is likely to cause more pain to a stressed sector," they warn from CMC Markets.

Finally, remember that today the employment report of the ADP consultancy is published in the United States, a prelude to the September employment report that will be released there this Friday.