All of Europe falls sharply due to Covid: the Ibex sinks and loses 6,500
Investors witness another avalanche of results this Wednesday
The Ibex is losing its support of 6,500 points this Wednesday (it is already trading at 6,468 points). "If it loses this price level, we could end up seeing an extension of the falls to the level of 6,421 points," warns César Nuez, analyst at Bolsamanía and head of Trader Watch. Except for three values, all the others fell sharply, highlighting the decreases in banks, especially in Bankinter and Sabadell.
IBEX 35
11.467,300
-
0,24%27,40
- Max: 11.489,20
- Min: 11.310,50
- Volume: -
- MM 200 : 11.289,95
Investors remain concerned about the evolution of the pandemic, while not losing sight of business results. Today they have quarterly results in Spain from Bankia, Naturgy and Aena, among others. Deutsche Bank has also released figures. The bank has returned to profit in the third quarter.
"Addressing the growing Covid-19 crisis is key now for Europe. Before her political statement in front of the Bundestag this Thursday, German Chancellor Angela Merkel will meet again today with the presidents of the different states to discuss possible new restrictions, such as the closure of bars and restaurants. President Macron is also expected to announce stricter closure measures, "Danske Bank experts explain in their daily report. In Spain, the Autonomous Communities are studying restrictive measures, some for this weekend.
Otherwise, the Bank of Japan concludes its two-day monetary policy meeting on Thursday. Experts say it is likely to announce a cut in GDP and inflation forecasts. In addition, tomorrow there is also a rate decision from the European Central Bank (ECB). Analysts at Berenberg expect the body to pave the way for a new stimulus package in December. "The background justifies taking more measures now, but it is unlikely that the ECB will act already this Thursday," says the German firm.
