The Ibex 35 has rebounded 5.84%, up to 6,464 points, after learning about the economic measures that the Government of Pedro Sánchez is going to carry out to try to stop the impact of the coronavirus. The President has announced a battery of economic measures for the "mobilization of 200,000 million euros", which includes a line of guarantees worth "100,000 million euros".
- 11.105,500
- 0,50%
Sánchez has also announced the exemption from the payment of contributions to those companies that, instead of dismissing workers, take advantage of temporary employment regulation files (ERTE); and also the creation of a mechanism so that foreign groups cannot launch a takeover bid on a Spanish company that belongs to strategic sectors.
The measure announced last night by the National Securities Market Commission (CNMV), which was chosen to try to stop the falls by extending the veto to short positions for one month (extendable to two others), has also favored the rebound.
Investors are very concerned about the caliber of the coronavirus crisis, as evidenced by the measures taken so far, and that concern is clearly reflected in the stock market. Wall Street collapsed in the last session 12% also because Donald Trump recognized what is an open secret: that the United States - also - is at risk of going into recession.
The Covid-19 continues to spread around the world, especially in Europe and the United States. Italy (has announced that it will nationalize Alitalia) and Spain are still the most affected countries in the Old Continent, but France and Germany have also reported a sharp increase in cases. French President Emmanuel Macron announced that the European Union (EU) will close its external borders starting this Tuesday, while ordering the French to stay at home for up to 15 days due to the coronavirus outbreak.
In the United Kingdom, the government, which until now has been more lax and indifferent to the coronavirus, has stepped up public councils to deal with it, although it has not closed schools. British Prime Minister Boris Johnson has pointed out that the country must avoid social contact.
"Now is the time for everyone to stop having non-essential contact with each other and to stop all unnecessary travel," Johnson said at a press conference. "We should avoid pubs, clubs, theaters and other such social places," he added.
In another order of things, the Bank of Sweden has announced an economic package against the coronavirus that includes a QE (asset purchase program) of SEK 300 billion. In addition, today the German Zew of March has been known, which has gone much worse than expected impacted by the health crisis. The Zew of economic sentiment has remained at -49.5 compared to the estimate of -26.4 and the previous estimate of 8.7.
Finally, when it comes to the technical aspect of the Ibex, Bolsamanía analysts explain that it will try to hold on to the 2012 lows, at 5,900 points. For now, it is respecting them.
