BusinessThe Ibex 35 advances 0.2% and remains at the gates of 8,000 integers

The Ibex 35 advances 0.2% and remains at the gates of 8,000 integers

Archive – Ibex 35 securities at the Madrid Stock Exchange Palace, on June 15, 2022, in Madrid (Spain). – Eduardo Parra – Europa Press – Archive

The Ibex 35 has closed with a rise of 0.22%, reaching 7,963.1 integers, at the gates of 8,000 integers, after having struggled to exceed this threshold throughout the day.

Investors today have been waiting for corporate results in the United States: the US investment bank Goldman Sachs registered a 48% decline in its profit in the second quarter, while Bank of America reduced its earnings by 33.8%.

They join the results that other investment entities already presented last week. XTB analyst Joaquin Robles highlights the “surprise” of JP Morgan Chase’s announcement of stopping its share buyback program and its provisions for possible credit losses, after reporting a 28% cut in profits for the second trimester.

“Despite the poor outlook, a 4.3% increase in earnings for S&P 500 companies is expected, which would be the worst data since the fourth quarter of 2020,” says Robles.

On the other hand, the ECB’s governing council is expected to undertake the first interest rate hike in the eurozone since July 2011 on Thursday. This decision will put an end to an era of “ultralax” monetary policy in the region in the face of runaway inflation and the unrelenting fall in the price of the euro against the dollar in recent months.

In addition, investors are aware of the open political crisis in Italy. It is expected that next Wednesday, the current president of the Council of Ministers, Mario Draghi, will appear before Parliament (Chamber of Deputies and Senate) to explain the reasons why he decided to present his resignation to the President of the Republic, Sergio Mattarella, and submit to a motion of confidence.

In this context, the Ibex 35 has closed almost all its values ​​in ‘green’. The rises of Acciona Energia (+2.63%), Acerinox (+2.35%), IAG (+2.07%), ArcelorMittal (+1.81%), Ferrovial (+1.72%) have stood out , Melia (+1.64%), Repsol (+1.47%), Grifols (+1.35%) and Indra (+1.29%).

On the other hand, only Cellnex (-2.74%), Mapfre (-2.20%), Fluidra (-1.40%), Telefonica (-0.99%), Iberdrola (-0 .20%), Aena (-0.04%) and BBVA (-0.02%).

The rest of the European stock markets have also closed higher, with advances of 0.74% for Frankfurt, 0.93% for Paris, 0.83% for London and 1.13% for Milan.

The barrel of Brent quality oil, a reference for the Old Continent, was at a price of 105.74 dollars, with an increase of 4.49%, while the Texas was placed at 101.78 dollars, after rising a 4.29%.

Finally, the price of the euro strengthened slightly against the dollar, standing at 1.0163 ‘greenbacks’, moving away from the parity level reached last week, while the Spanish risk premium stood at 127 basis points, with the interest required on the ten-year bond is 2.434%.

Source: Europa Press

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