In a day without major macroeconomic references, the news about the new variant of the coronavirus returned to focus the attention of investors. Although the latest studies confirm that the lethality of omicron is lower than that of other mutations and that the resistance of the vaccines is higher than initially expected, investors opted for the correction. In a session of low trading volumes due to the Feast of the Immaculate Conception, the Ibex 35 lost 0.95%. After hours in which the selective was balancing over 8,500 points, at the end it could not hold the pressure and concluded below that level. The Spanish Stock Market moved 1,163 million, 15.7% less than the daily average for December (1,381 million).
Inditex and Santander were this time not only the two most bearish listed companies on the selective, but also the ones that subtracted the most points since they are two of the 35 securities with the most weight. The textile group fell 2.9% and Santander, 2.48%. The falls of the entity took place after knowing that it already owns 96% of the capital of its Mexican subsidiary after investing 340 million. Together with these two firms, the falls of Acciona (-1.67%) and Viscofan (-1.67%) were also notable. On the opposite side were BBVA (1.36%), Merlin Properties (1%), Meliá (1%) and Colonial (0.44%).
The volatility and hesitations that prevailed in the Spanish market for much of the day, also prevailed in the rest of the European Stock Market. Like the selective Spanish, the main indices of the Old Continent chose to fold sails. The German Dax welcomed new Chancellor Olaf Scholz with a drop of 0.8%. The French Cac fell 0.8%; the Italian Mib, 1.42% while the FTSE ended in a draw.
On the other side of the Atlantic and coinciding with the closing of the European markets, Wall Street was trading with a mixed sign. Investors nervously await the US inflation data for the month of November to be released on Friday. Experts believe that the figure may lead Federal Reserve officials to reformulate their policies toward accelerating the phasing out of the massive bond buying program. Already last week, the president of this Central Bank, Jerome Powell, warned that it could be time to stop seeing inflation as something transitory.
Waiting to see how prices evolve, returns return to the uptrend. The Spanish 10-year bond rose to 0.41% while the German benchmark for the same term rose to -0.31%. For its part, the US bond maturing in 2031 rose to 1.5% while the two-year debt is around the highest of the year (0.68%).
In the foreign exchange market, Brent recorded 0.5% and in its fifth consecutive day on the rise it is approaching 76 dollars per barrel.