Falls in Europe after the confinement of Austria: the IBEX 35 loses 8,800 and signs its worst week in a year

1. Ana Míguez
2. Francisco S. Jiménez
3. Vicente Nieves
4. Mario Becedas

Not only those not vaccinated, which are more than two million inhabitants.Austria decides to extend the confinement to the entire population from Monday for ten days - which could be 20 - to stop the increase in cases of coronavirus.In the last 14 days, the incidence rate has been shot with more than 1.500 new contagios per 100.000 inhabitants in a country of eight million people.The nerves to which the pandemic reissue the worst episodes lived in 2020 return to financial markets.Variable, fixed income, raw materials...No one escapes fears.The only good news has been that the collapse of the profitability of European bonds give a respite to central banks by automatically cutting the type expectations.

European stock markets end the day with losses in the face of uncertainty generated.Eurostoxx 50 has retreated 0.60% in the day staying close to 4.360 points, losing the 4.400 and leaving a 0.40% in the weekly calculation that breaks with its six -week running streak closing in green.The European Index, which despite this bad week, advances more than 2.4% in the ease of November, moves away a little more than the 4.572 points that continue aspiring and that suppose the historical maximums achieved before Lehman Brothers Brothers's bankruptcy.

The Ibex 35 has also given up the pressure being of the worst in Europe.The Spanish selective is left this Friday 1.68% to 8.753.20 points.The Spanish index loses the 8 on the same day.900 and 8.800 y firma su peor semana en un año (-3,61%).In the month, the selective national is also left 3.36%.

"Austria's decision to extend the confinement throughout the country from Monday to stop the rise in coronavirus cases has caused a scare on the bags, mainly European, which will have to be seen if it stays in a mere scare or ends up beingSomething else, "says Joan Cabrero, an Ecotrader advisor. Para el experto, una clara señal de debilidad sería que el Dax alemán pierda soportes que encuentra en los 15.950 and especially 15.690 points.The German selective, who also goes back this Friday, endures about 16.100 integers.

Respecto al Ibex 35, la pérdida de los 8.800 esta jornada de cierre de semana implica que el siguiente gran soporte se sitúa en unos 8.550 que implicarían retroceder hasta mínimos de septiembre.Lost that area, the falls could go at 8.250, which would mean return to minimum of July.The selective homeland seems to deflate when everything pointed to a closing of the year in style that led him to overcome the June area of June in the 9.310 points, according to Cabrero.

The losses have been installed, in addition to Austria, where the stock market has fallen vertically until it closes almost 3% below, in places with greater exposure to tourism.Almost logically, tourist values in the Spanish Stock Exchange have taken the worst part with abrupt falls for much of the day. Amadeus ha acabado siendo el valor más castigado retrocediendo más de un 4,5%. IAG, que ha caído más de un 5%, ha moderado su retroceso antes del cierre bajando aún así más de un 3%. Aena también se ha dejado más de un 3%.There is no doubt that confinement in Austria and major restrictions in Germany could damage the routes between these countries and the Canary Islands, which have their high season, precisely, in the coldest months of the year in the old continent.

Link Securities analysts already smelled somewhat early in the morning."Factors such as high inflation and the increasing.The passage that the Austrian government has taken can be the first of many.Covid cases could also force Germany to take similar measures, generating an impact on air transport and remarkable tourism.

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For more Inri, this Friday the monthly expiration of futures and options took place, which always increases market volatility.En esta dura jornada los inversores se han refugiado en la renta fija.The price of the bonds has shot and interest falls.The profitability of the Austrian bonus at ten years has gone from -0.03% to -0.11%, at least September.Purchases have spread through all European bonds.The performance of German BUND goes back to less than -0.34%.Investor capital seeks refuge especially in high quality sovereign debt.The profitability drop is being lower in peripheral debt.Spanish bonus performance has touched 0.4% to stay at 0.386%.

European losses have not varied their career with the opening of Wall Street.The main American indices have shown mixed sign. El Dow Jones y el S&P 500 retrocedían mientras el Nasdaq avanzaba con fuerza. El S&P ha conseguido darse la vuelta después.

"Although all headlines are in Europe at this time, will the United States more vulnerable than many European countries throughout the winter?" The Deutsche Bank's strategist, Jim Reid, wondered in a note."Recent history suggests that the United States applies less hard restrictions, but it also has a lower vaccination rate than its European peers," suggesting that sooner or later the problem of regrowths will reach the American Stock Exchange.

En los mercados de materias primas, la incertidumbre también ha llevado al petróleo a moverse con descensos superiores al 3%.Breant barrel falls, reference in Europe, and West Texas, reference in the US.

Las divisas tampoco aguantan el envite y el euro ha llegado a ceder un 0,7% en su cruce con el dólar hasta los 1,1286 billetes verdes.At the close of European markets the setback has remained at 0.46% to $ 1,1317.

Type expectations turn

The words of the president of the ECB, Christine Lagarde, this morning urging the central bank itself notCovid, dynamic that can be extended to other countries, has penetrated the market and has caused a turnaround in betting of types of types next year. Los operadores están empezando a contemplar un escenario sin subidas de tipos solo una semana después de apostar a un alza de 20 puntos básicos para diciembre de 2022.

"You have to admit that some fantasy is needed to see a decrease in types next year, but at some point the market has to completely eliminate the vision of types of types next year," Christoph Rieger explains to Bloomberg,Commerzbank strategist.The memory of the last confinements by the pandemic remains fresh in the minds of investors, who bet because the strong increase in Covid cases reduces the incipient growth prospects.