The Ibex 35 falls almost 1% at mid-session and loses 9,400 points after the rate cut in China

MADRID, 15 Ago.

The Ibex 35 falls almost 1% at mid-session and loses 9,400 points after the rate cut in China


The Ibex 35 fell almost 1% at mid-session this Tuesday, which has led the selective to lose the level of 9,400 points, in a semi-festive trading day, which has been shaken by the decision of the Central Bank of China to lower the interest rates on their one-year bank loans in order to boost their economy.

With the Milan Stock Exchange closed for a holiday and the Madrid Stock Exchange at half throttle for the Assumption of the Virgin festival throughout Spain, the Ibex 35 traded at mid-session at 9,337 integers after having started the day practically flat.

Within the Madrid selective, the greatest increases in the half session were recorded by Fluidra (0.52%), Rovi (0.25%), Grifols (0.15%) and Repsol (0.11%).

At the other extreme, the most pronounced falls were recorded by two real estate companies, Merlin and Colonial, whose shares fell 2.29% and 1.9%, respectively. Also notable were the falls in ArcelorMittal (-1.8%), Iberdrola (-1.5%) and BBVA, which lost almost 1.5%.

China's unexpected decision to lower rates has also revolutionized the rest of the European stock markets open this Tuesday. London dropped 1.5% at mid-session, while Paris fell 1.17% and Frankfurt lost 1.06%.

In addition to the rate cut, China released data on Tuesday that point to a slowdown in its economy. Its industrial production grew by 3.7% year-to-year in July, below the 4.4% of the previous month, while its retail sales softened their rise to 2.5%, six tenths less than in June.

Preliminary data for Japan's GDP for the second quarter have also been published this Tuesday, showing an acceleration in the growth of the Japanese economy of six tenths, up to 1.5%.

For its part, the Central Bank of Russia, meeting in extraordinary fashion, has decided today to raise the official interest rate by 350 basis points, up to 12%, to try to contain inflationary pressures, which are negatively affecting its currency.

In the commodity markets, the price of a barrel of Brent quality oil, a reference for the Old Continent, fell by almost 0.6% at mid-session, to $85.72, while Texas stood at $81, 89 dollars, 0.7% less.

As for the euro, its price against the dollar advanced to 1.0941 'green tickets', while in the debt market the interest demanded on the 10-year Spanish bond rose to 3.753%.