Tuesday, March 18, 2008
So the stock market continues its yo-yo ride, up 3% at closing time and above the psychological line of 13,000 points again. The banks came back, with BBVA up 5%, Santander up 4%, and the other blue chips up between 2% and 3.5%. Smaller banks like Popular and Bankinter were up 5%. London, Paris, and Frankfurt were all up about 3.5%. La Vanguardia credits the recovery on Wall Street, the drop in the price of oil to $102, and the slight improvement of the dollar to $1.57/€. They pretty clearly think that the fate of the Spanish economy is riding on what happens in New York and Washington.