ドイツ·オランダ·フィンランドがスペインの国債購入に反対の声明を出したので、スペインの株式市場は3'9%減少し,スペインの10年国債の金利は+461(+455)で6'13%(6'1%)に上昇
La prima de riesgo sube a 455 puntos por las dudas en la recapitalización bancaria
Los inversores reaccionan mal a la advertencia de los países del norte sobre la unión bancaria
El diferencial entre la deuda alemana y la española se amplía en 39 puntos básicos
Las Bolsas europeas abren en rojo y el selectivo Ibex 35 llega a ceder más de un 3%
El euro también cotiza a la baja por las mayores incertidumbres y retrocede a los 1,28 dólares
Consulta la evolución de los principales mercados al minuto
Álvaro Romero Madrid 26 SEP 2012 - 12:42 CE
Fuente: Bloomberg
The risk premium rises to 455 points in case the bank recapitalization
Investors react badly to the warning of the countries on the northern bank union
The spread between Spanish and German debt is extended by 39 basis points
The European stock markets open in red and the Ibex 35 yield reaches more than 3%
The euro was also trading lower by greater uncertainty and back to $ 1.28
See the evolution of the main markets at minute
Alvaro Romero Madrid 26 SEP 2012 - 12:42 CET
Nerves markets again. The warning that launched yesterday, Tuesday, northern countries of the euro against fast direct recapitalization of banks, which goes against the government's plans and Mariano Rajoy, ultimately means more debt, have reignited investor unease over Spain. This slowdown in the alleged new solutions to the crisis, disappointment adds to the uncertainty of the Executive on a second bailout and the publication yesterday of the overflow of the public deficit, have high sales on Spanish debt in secondary markets, where securities are traded once issued, which has led to the risk premium of 460 basis points. Pessimism has also taken its toll on the stock market, where the Dow dropped 4% and says goodbye to 7900 points.
The departure of the Spanish debt investors has increased interest in the listed government bonds, which in the case of 10-year securities has put over 6%. This rise has increased the spread between Spanish and German debt, reference by their stability, to 461 basis points (4.61 percentage points), about 45 more than the previous day. So far as today is still the worst day for Spanish debt since Aug. 2, when the ECB President Mario Draghi disappointed to not specify anything about the announcement that he had made a few days before action "sufficient" to stabilize markets.
Since then, the premium required to Spanish debt had risen so much in one day, what has taken place precisely thanks to the ECB. In fact, after the increase on Wednesday, the risk premium, which is considered the best indicator to gauge investor confidence has returned to the levels it had on September 6, another date marked by the words of Draghi but in this case positive for Spain. Earlier this month, the ECB president announced his plan to buy unlimited debt of troubled countries, which has led to a lull in the markets, however, has come to an end.
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The premium demanded that the 10-year Italian debt against Italy, meanwhile, has advanced much less than the Spanish with a rise of 23 points to the 374, which confirms that it is much better improvement advantage granted by Draghi.
The origin of the outbreak of the turmoil in the statement on the eve of the finance ministers of Germany, Finland and the Netherlands, the three countries with the highest credit rating of the eurozone. The more orthodox euro partners launched a bucket of cold water on expectations of Spain to benefit from direct payments to the bank planned to launch when the union bank. Something that should take place in January, as proposed by Brussels and supported France, but they do not share the Triple A. The bitterness between the rich countries, which are the highest paying one hand, and the European Commission, Spain, Italy but also France, on the other, raises questions about the process, just open but the key to building firewalls intended final against the spread of the crisis.
In the bags, which have used the truce motivated by the ECB to achieve their highest levels since spring in the previous days, sales have also picked up strength Wednesday. Among the places of reference emphasized the Old Continent has undergone corrective Spanish Ibex 35, which has fallen by 4%. This, said goodbye to the mark of 8,000 points and has fallen below 7,900.
For names, the biggest losses have been to the bank, where the nationalized Bankia has lost 4.90%. Endesa and BBVA were most yielded between so-called blue chips and was down 4.70% and 4.20%. Santander, which late yesterday announced the terms of the IPO of its subsidiary in Mexico, the operation by which expects to attract up to 3.183 million, has lost 3.29%. Telefónica, meanwhile, has yielded 3.11%, 3.7% and Repsol other Inditex, which came on the eve touching the 100 euros per share, up 1.80% to 97.9 euros.
For the rest of Europe, Milan was the only one who approached the falls with a thud Ibex 2.7%. Paris has fallen by 2%, 1.5% and Frankfurt 1.12% London. Doubts have also taken their toll the euro, which has fallen to $ 1.28. The red numbers that have registered European parks have continued to suffered sharp falls in Asian markets and Wall Street at dawn Tuesday.
As for what's to come, investors are also very aware of the presentation on Thursday of the State Budget for 2013 and the publication of the new tests to Spanish banks, in this case by an independent body and monitored by Brussels The ECB and the IMF, the next day.
At the same time, he looks forward to what will be the decision of the rating agency Moody's on the credit rating of Spain, which is just one step away from falling into the junk bond. The potential drop at this level, which is restricted to the speculators, which also has put investors on the defensive after weeks in which Spanish assets have enjoyed a timid return of risk appetite. This optimism, encouraged by the ECB but also by new stimuli of the U.S. Federal Reserve or the Bank of Japan, has also come to an end.
Moreover, for Spain achieved either help restore confidence tensions over early elections Catalan community as announced by the Finance Minister Cristobal Montoro, has no money to pay imminent debt maturities by 471 million, and the publication of the harsh images of the protests to Congress on major international media, which has led some to evoke the dreaded comparisons with Greece. The summary that take foreign analysts, as reported in the Financial Times, is that you are multiplying Rajoy fronts.
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