The sales shake the European stock markets again: the Ibex 35 falls more than 1.5% and leaves 8,800 again on the way

Sales have once again been the leitmotif on the European stock exchanges this Wednesday. The pressure of government bonds , with their interest on the rise, and oil and gas prices (this has reached record highs), among other raw materials, have led equities to record sharp declines spurred on by a Wall Street that has opened with falls close to 1%. On this side of the 'pond' the losses are greater and that they have moderated at the end of the day after lowering gas prices in Europe with Russia's announcement that there will be supply.

The EuroStoxx 50 (taken as a reference in the Old Continent) has lost more than one percentage point and remains at 4,014, although during the day it has risked 4,000 points (intraday low: 3,965.2). Joan Cabrero, a technical analyst at Ecotrader, highlights the risk that the continental index will fall to 3,800 integers (5%) in the short term.

The Spanish stock market has not escaped the 'red numbers' either. The Ibex 35 ( which has fallen by 1.71% to 8,775 points ) loses the 8,900 where it ended yesterday and threatens 8,800 (the intraday low was 8,721.5).

The national indicator may end up falling in the short term towards 8,550 integers (2.5%) as long as it is not able to beat the resistance of 9,000-9,055 points (more than 3% up), according to the adviser of our portal premium.

Only three values ​​of the Ibex 35 have closed this Wednesday in green. They are the electricity companies Red Eléctrica (+0.97%), Naturgy (+0.37%) and Iberdrola (+0.11%), which are holding their rate precisely because of the new rises in energy prices (although the of gas have rotated late in the session). On the downside side, the worst part was Inditex (-4.57), ArcelorMittal (-4.24%) and IAG (-3.69%).

Of the large stocks, apart from the fall of Inditex, Repsol has yielded 2.25% after the increases in recent days on the back of the rebound in oil, Telefónica 1.78%, BBVA 0.92% and Banco Santander 0.58%.

Bonds, oil, gas...

The European markets continue in "the dynamic of alternating days of rebounds with days of clear selling pressure," says Sergio Ávila, an analyst at IG Spain.

" The pressure comes from the bond market ", adds this expert. The interest of the ten-year US bond (the T-Note) has reached +1.57% and that of the 30-year US 'paper' has climbed to its highest since June .

On this side of the Atlantic, the ten-year German bund is already at a high since June ( -0.17% ) and the Spanish bond is already at +0.5%, the highest since May.

The raw materials market also captures much of the attention, with the focus especially on oil prices (European Brent has even touched 83 dollars a barrel) and natural gas. The latter have corrected shortly before the closing of the European stock markets after the president of Russia, Vladimir Putin , has assured that his country is willing to help stabilize world energy markets.

"Factors such as high inflation , the problems that the Chinese real estate sector is going through or the risk that Congress will not reach an agreement in time to increase the US debt ceiling, we believe will continue to weigh on investors' sentiment, generating a lot of volatility in the stock markets and making it unlikely that the punctual rebounds of the indices can be consolidated, at least in the very short term", says Juan José Fernández-Figares from Link Securities.

The next step? "All eyes will focus on the US employment report , which will be released this Friday," analyst Diego Morín also clarifies from IG.