Reported by Álvaro Romero Mateu
European stock markets recouped some of the previous session’s losses, buoyed by the correction in oil prices and a fresh round of corporate results. The Ibex 35 rose by 1.6% and the EuroStoxx 50 by 1.1%.
In Asia, selling prevailed due to trade uncertainty and pressure on the technology sector. Japan’s TOPIX fell by 1.1 per cent, South Korea’s KOSPI by 5.7 per cent, China’s CSI 300 by 1.7 per cent and Hong Kong’s Hang Seng by around 1 per cent.
In Spain, Acerinox stood out with a rise of nearly 10% after returning to profit and improving its forecasts for the third quarter. Banco Sabadell also rose by around 4% after reporting its results, whilst Mapfre fell by more than 4% following the announcement of an acquisition in the United States.
In Europe, SAP rose by 9% after exceeding expectations in its cloud services business. Conversely, Volkswagen fell by around 2% after cutting its full-year forecasts.
In the US, the rebound was more limited at the close of European trading. The S&P 500 was up by around 0.6%, whilst the Nasdaq rose by around 0.1%, weighed down by further falls in technology stocks such as Micron and Broadcom.
A day of moderate buying in sovereign debt, buoyed by the fall in oil prices and reduced immediate pressure on inflation expectations.
The yield on the 10-year German Bund stood at around 3.17%, after falling by nearly 3 basis points. In Spain, the yield on the 10-year bond hovered around 3.63%, down by approximately 4 basis points.
Meanwhile, the yield on the 10-year US Treasury was trading at around 4.66% at the close of European trading, some 4 basis points below the previous close.
Brent crude fell to $96.2 per barrel, down 4.4%, whilst WTI stood at around $88.6.
Gold was trading at around $4,076 per ounce and silver at around $58.9.
The euro gained slightly against the dollar, with the EUR/USD exchange rate at around 1.138.