The Russian troop movements on Donestk and Lugansk, as well as the veiled threat that Vladimir Putin has launched on the Baltic republics have felt like a jug of cold water on the markets.
The Ibex 35 opened with a bearish gap of 1.8% losing the 8,300 points. Some decreases that have also been seen in the rest of the markets, seeing the German Dax falling by 1.82%, the CAC 40 by 1.41% and the Euro Stoxx 50 by 1.80%.
Some declines in line with what we also saw in the Asian markets with corrections in the Tokyo Stock Exchange of 1.71% or in the Sydney Stock Exchange that left 1.00% while the Shanghai Stock Exchange corrected 0, 96% and the Hong Kong Stock Exchange 2.88%.
For their part, US futures corrected and we saw the Dow Jones future down 1.39%, the S&P 500 future down 1.68% and the technological Nasdaq 100 down 2.43%.
Within the selective Spanish we saw PharmaMar as the value that fell the most (-4.58%) followed by IAG (-3.07%) and Acciona (-2.46%). We only had Cellnex in the positive, up 2.37%, followed by Repsol with a ridiculous drop of 0.10% and Almirall down 1.04%.
Nevertheless, the process of bullish reaction of the markets was not long in beginning and quickly led the selective Spanish to close the gap relatively, that is, to test the lows of yesterday’s session, and therefore it was placed above 8,400 points in line with the recovery of the rest of the indices and already placing Repsol and Almirall positive, although in the case of PharmaMar no improvement is being seen.
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In addition, we will have to be very attentive to the macro agenda of the day, which includes the publication of the Italian CPI, business expectations and the current situation, as well as the IFO index in Germany, S&P/Case-Shiller house prices in the US , PMI manufacturing, composite and services and the highlight of the day with consumer confidence.