Ibex opens in green, with banks leading in the return

The bags they opened this Tuesday, before the meeting Federal Reserve, optimistic. The main selective ones are colored green, encouraged by the banks.

The multi-million losses on the stock market that caused last week regional banking crisis in the USA and Credit Suisse, are weakened at this time of the morning. Falling stock values ​​open the possibility of cheap buying.

However, there is another reason that explains the renewed dynamics of the stock market: The Federal Reserve is studying the possibility of guaranteeing all deposits in the United States, amount to no less than 17 trillion dollars, almost four times the annual wealth produced by a country like Germany.

Despite the fact that the US regulator has insisted that taxpayers will not pay the price of the banking crisis, the truth is that the road is being assessed to prevent a contagion effect in the small and medium-sized banking sector. The opening of the Federal Reserve’s window to provide liquidity to those who made the mistake of investing too much in long-term government bonds and low yields may not be enough, given the strong demand that has emerged. In fact, there would be about 200 banks in the same situation as bankruptcy Silicon Valley Bank.

The situation is far from control. He First Republic Bankthe fourteenth largest entity in the country, sank almost 50% on the stock market yesterday, and JP Morgan, together with the big banks, has already they are negotiating a second additional bailout package in addition to the $30,000 million they injected last week.

The return of the Spanish banks

What happens in the Ibex 35? The Spanish selective is currently up 2.35%, recovering from the financial turmoil of the past 11 days. The return is led by the bank. Although they still have a way to recover from the defeats of the last few days, they are making strong progress in the Madrid square. He Sabadell leads selective with gains of 5.76%. follows him banker (5.2%); Santander (5.12%); BBVA (4.7%); Destruction (4.47%) i caixabank (4.46%).

According to dax german It takes him longer to recover. In these hours, it advances by 1.57%, s German bank revaluing 4.3%, after closing in the red on Monday (-0.5%). Also commerzbankone of the hardest hit values ​​in Frankfurt, recovered by 6.69% this morning.

He French ACC is recovering 1.7%, and the London market is, as happened on Monday, the one that has the most problems with holding. It is barely progressing at 1.35%.

In the last few hours, the European Central Bank (ECB) opened an emergency liquidity line to give European banks easier access to dollars to continue operating in anticipation of a credit crunch on the other side of the Atlantic. In addition, its president Christine Lagarde assured that the exposure of European banks to Credit Suisse is very limited.

This afternoon, the European Banking Authority (EBA) and the Supervisory Board of the ECB are expected to analyze the impact of the latest developments on the eurozone financial system in the Eurochamber.