Hopeful news for the Ibex: Aiming for a rebound on the eve of the growth summit

The Spanish stock market could expand its cushion above the level of 6,500 points that it has managed to save in recent days. The futures of the main European markets point to a rebound close to 1%. The infrastructure projects to be relaunched by China come on the eve of the long-awaited European summit to boost economic growth . The euro comes out stronger, on the verge of $ 1.28.

The day dawns with a more reassuring sign than in previous days. References help this regrowth of confidence. Late yesterday Wall Street, despite the Facebook jab, closed higher than 1%. This morning Asian stocks also moved above the percentage point of gains. One of the great stimuli has come from China, which is ready to launch new infrastructure mega-projects in an attempt to relaunch economic growth.

The upward trend in the US and Asia favors advances, close to 1%, in the futures of the main European stock exchanges. This improvement also coincides with the celebration, tomorrow, of the European summit focused on stimulating economic growth. This shift toward policies less corseted by austerity has incidentally fueled the debate on Eurobonds, despite opposition from Germany.

The positive tone of the futures would allow the Ibex to reinforce and expand its cushion above 6,500 points. The Spanish selective index has closed the last three days on this level. Today you could look for 6,600. For this, it would have to count on the improvement of banking. For now, the risk premium offers a small truce, repeating above 480 basis points, a few hours before the result of the Treasury bill auction is known. In the foreign exchange market, the euro is close to 1.28 dollars, and in the commodities market, Brent recovers 109 dollars and gold remains at a step of 1,600 dollars an ounce.

Source: Market Expansion