The selective loses 10,000 points and the differential with the German bond exceeds 300 points. The fluctuations are due to the intervention of the CAM by the Bank of Spain and the lowering of the qualification of Moody s of Greek bonds to almost unpaid. The risk premium and the Ibex-35 have again lost their psychological barriers calls. The selective has fallen 1.92% from 10.059,30 points to the 9.886,20 and the differential with the German bond has climbed from the 293 Friday to the 326 basis points. After several sessions alzistas where came to reach 366 points on 18 July, the agreement for the Greek rescue relaxed the pressure last Friday, when it closed at 293 points. These fluctuations seem to be motivated by the intervention of the Bank of Spain to the box of the Mediterranean that same Friday and the decision on Monday by the Agency s Moody’s lowered the rating of Greek bonds on the verge of default. Day in the Park the Spanish stock market has begun the session with more than one hour late due to technical problems and the He did downward.

The decision of Moody s lower rating of Greek bonds in three levels, up to grade Ca from Caa1, sinking them until the lowest category of bonds trash and leaving them to a scale interval of non-payment, only served to discourage more investors. In addition, shortly before the close of European stock markets, Moody s announced that it is reviewing its note to eight Greek banks and warned that degradation is possible. The reduction of Moody s occurs once on Friday, another agency, Fitch make sure that the new programme of aid to Greece was a restricted default. The opening down on Wall Street in the absence of agreement in the United States to raise the ceiling of indebtedness of the country a week that limit is met only confirmed the trend of declines. In the absence of other news of relevance in Spain, since today is a holiday in almost the entire country, investors opted is for prudence and the collection of profits after several sessions upload and waiting for the battery of business results expected this week. In Europe, with the euro to 1.43 dollars, the main squares also recorded losses in a generalized manner, although minor Spanish, since Paris left 0.77%; London, 0.16% and Milan, 2.47%, while Frankfurt climbed 0.25%. Source of the news: the Ibex-35 and the risk premium on return to exceed the psychological barriers