- Argentine President Mauricio Macri has announced that he is negotiating a bailout of the country with the IMF
The Ibex 35 ends the session with a rise of 0.52%, to 10,221 points, with which the selective exceeds its key resistance of 10,210 points. The European stock markets return to green numbers after Wall Street ended almost flat last Tuesday and despite the latest news about the nuclear pact of Iran and Argentina.
- 11.154,600
- 1,56%
Bankinter led the gains in this session after rising 3.15%, followed by Repsol, which returns to record highs by climbing 2.54% (16.54 euros) and Bankia (+ 2.17%). On the contrary, Meliá has led the declines (-2.9%) after presenting its quarterly results yesterday, in which it announced earnings of 22.1 million (+ 18.9%). Also highlighted in red were Endesa (-0.92%) and Red Eléctrica (-0.86%).
In the main board they presented their Oryzon accounts (+ 2.69%), which reduced their losses by 21%, to 10.2 million euros. Also in green, Applus closed (+ 4.76%) after gaining 18% more in the first quarter, up to 14.5 million.
IRAN AND ARGENTINA
On the one hand, it has been confirmed that the United States withdraws out of the nuclear agreement with Iran that was signed in 2015. Early on Tuesday, Donald Trump was expected to announce his decision, due to rumors that the US would finally remain in the pact, Oil fell hard in the afternoon. However, oil is rising almost 3% on Wednesday after confirming the exit from the United States and analysts stress their thesis that the restoration of sanctions on Iran will affect its role as the third largest exporter of crude within the Organization of the Countries. Petroleum Exporters (OPEC).
Therefore, investors will remain very aware of the evolution of oil and the impact of these rises in 'black gold' in the rest of the markets ... while they will not lose sight of the Argentine peso after Tuesday's announcement by the president from Argentina, Mauricio Macri. Macri has announced that he is negotiating a bailout with the International Monetary Fund (IMF) that could amount to $30bn dollars. Argentina reappears as that country with problems in which many Spanish companies have interests. Throughout these previous days we have been telling you who these companies are and how they could be affected by the collapse of the peso and the Argentine situation in general. Telefonica (+ 0.11%), for example, has in mind to introduce its subsidiary into the stock market to obtain money to reduce its bulky debt. If the peso continues to be devalued, experts believe that this operation will be postponed.
"Trump's decision is a new blow for the allies in Europe who have been trying to convince the president of the United States to stay in agreement with Iran and come immediately after the tariff problems with the European bloc. .) It is very likely that we will see the same hard approach with North Korea when he meets Kim Jong-un, "warns Jasper Lawler, senior analyst at the London Capital Group.
Beyond all these events, business results season continue this Wednesday, such as those of ING or Siemens. In addition, in the macro level, the industrial production of Spain plunged 3.6% in March after ten months in positive. In the United States, watch the April production price index. Also attentive to the weekly crude oil data in the United States.
