BusinessThe Ibex 35 chains its tenth session in 'red' and continues below 8,000 points

The Ibex 35 chains its tenth session in ‘red’ and continues below 8,000 points

Archive – Interior of the Palacio de la Bolsa, on July 19, 2022, in Madrid (Spain). – Eduardo Parra – Europa Press – Archive

The Ibex 35 has turned around and has yielded 0.12% on the day of this Tuesday, thus chaining ten consecutive sessions in ‘red’ and equaling the negative streak of November 2017.

The Spanish selective has fallen to 7,979.8 points, despite the rises recorded by the banking sector. Specifically, the largest decreases in the session were presented by Repsol (-3.19%), Naturgy (-2.9%), Enagas (-2.89%), Acciona (-2.18%), Arcelormittal ( -1.84%) and Acerinox (-1.55%).

On the positive side, the rises of Bankinter (+3.43%), Sabadell (+3.26%), Fluidra (+1.91%), CaixaBank (+1.8%), Santander (+1, 7%), Mapfre (+1.54%) and BBVA (+1.2%).

The session has been marked by the inflation data in Spain, which has shown a moderation of its year-on-year rate of 10.4% in August, although core inflation has climbed to 6.4%. On its side, the year-on-year inflation rate in Germany registered an increase again in August, standing at 7.9%, four tenths more than in July.

Investors pay attention to these indicators, which are the prelude to the inflation data in the eurozone that will be known tomorrow, to try to anticipate the next steps that the European Central Bank (ECB) could take in order to tighten its monetary policy.

In this regard, Renta 4 analysts point out that the market is beginning to discount a rate hike of 75 basis points, instead of 50 basis points, at the next ECB meeting, scheduled for September 8.

As for the rest of the main European cities, Frankfurt has risen 0.53%, while London has fallen 0.88%, Paris 0.19% and Milan 0.08%.

The price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 99.28 dollars, with a decrease of 5.53%, while Texas traded at 91.73 dollars, after giving up 5.41 %.

In the currency market, the euro was trading slightly above parity against the dollar at $1.0021. In the debt market, the return on the 10-year Spanish bond exceeded 2.681% and the risk premium stood at 119 basis points.

Source: Europa Press

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Posts

Read More
More