European Central Bank

C. carabana 20 m selective, which closed on Monday at 7.640 points, just 8.388 Friday. The majority of European stock markets, less the French and Italian, closed in green. The main indicator of the Spanish stock market, the Ibex 35, has closed on Friday with a rise of 0.61% and stood at 8,388 points. Almost so recover the level of September 2, when he began stringing a series of downs that led him to numbers not seen since March 2009. Like the rest of the European stock markets, encouraged by this Thursday concerted action between the European Central Bank (ECB) and five other central banks to inject liquidity in the European system, the selective has won in the last two days about 400 points. Most European stock markets, less French and Italian, has closed in green. This coordinated decision by the ECB, the Federal estadouniense (EDF) reserve and the major central banks (Japan, United Kingdom and Switzerland) inject dollars, a currency where the European banks have great difficulties to obtain liquidity, He encouraged of exceedingly bags.

This Thursday, all the large European places experienced strong rises of 2.11% of London to 3.63% from Madrid. In March 2009 figures the great descent of the selective comes from stock market week which was from 5 to 9 September. The Spanish stock market lost 6.54% due to the possibility of a Greek bankruptcy and the fear that Europe enters a new recession by the reduction of growth rates. To top it off, the resignation on Friday of a senior official of the ECB by disagreements with President Jean-Claude Trichet and his policy of buying Italian and Spanish debt topped which was the second worst week of the year for the Ibex 35. Accumulated annual losses verged 20%. That the following Monday markets lunched with statements of senior German politicians making scenarios where Greece leaving the euro already it was a bad omen were bandied. The Greek Minister to ensure that if Greece did not receive the next tranche of the bailout should not to pay neither payroll nor pension from October, along with rumors that the Moody s Agency would downgrade the note of French banking, led to losses to all European stock markets.

Closer to the maximum descent, 4.03% from France, that the minimum, 1.63% of London, the Ibex 35 closed that Monday to 3.41 per cent negative, at 7.640 points. A level not seen since March 2009. France and Italy moved in similar historical quotes. From that day, the rumors began to improve. The President of France, Nicolas Sarkozy, and the German Chancellor, Angela Merkel, assured that the future of Greece was in the euro, the Group of the BRIC (Brazil, Russia, India and China) countries announced that they would go to the rescue of Europe based on conditions and the coordinated action of central banks and the Fed encouraged European stock that rose like foam. In the case of the Ibex, in those four days it rose almost 700 points. The bad news, as that eventually down the credit rating of French banking or the European disability to unlock the next tranche of the bailout to Greece, have not spoilt the end of the week. It remains to be see if the Monday the cto of the resultant adrenaline of dollars injected by the ECB and central banks gives rise to a hangover in red. At the moment, accumulated annual losses have fallen to about 15%. Source of the news: the Ibex recovers and rubs the level that lost two weeks ago