Austria Confines The Population, Nerves Return To Financial Markets

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Not just the unvaccinated anymore. Austria decides to extend the confinement to the entire population from Monday for ten days to curb the increase in coronavirus cases. The nerves that the pandemic will repeat the worst episodes experienced return to the financial markets.

The European stock markets leave behind the gains of the sessions to trade at a loss. The EuroStoxx 50 at the moment retakes the falls below 4,400 points, while the German Dax, where infections are also increasing, moves with many doubts. Needless to say, the Austrian stock market, where its main ATX index falls more than 1.5% vertically.

The Ibex 35 is also going to session lows with declines that take it below 8,800 points. The maximum of the day has touched them in 8,954 integers. Tourism values ​​take the worst part with steep falls of 5% for IAG or 3% for Aena and Amadeus.

A complicated scene because the selective already puts at risk the support it finds at 8,800 points, according to Joan Cabrero, technical analyst and Ecotrader advisor. If it falls below the end of the day (also weekly close), the index would jeopardize “the possibility of seeing the expected Christmas rally.

Analysts at Link Securities were already smelling something first thing in the morning. “Factors such as high inflation and the increasingly widespread restrictive measures with which European governments ‘threaten’ to adopt to combat the rebound in covid-19 cases, we believe will limit the rebound of these bags,” they indicated.

In commodity markets, uncertainty also leads oil to move with declines of around one percentage point. The barrel of Brent, the benchmark in Europe, rests at 80 dollars, while that of West Texas, the benchmark in the US, is around 77.5 dollars.

The currencies do not hold the stake either and the euro yields 0.7% in its crossing with the dollar to 1.1286 greenbacks.

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