Tuesday, December 5, 2023

Ibex-35 does not raise its head cornered by central banks

September 27 (Reuters) – The Spanish Ibex-35 index remained on a bearish path at the opening on Wednesday, in a market that continues to assimilate the prospects of higher interest rates and significant growth slowdowns in the major economies.

If it closes at the current level, it will be the fifth consecutive day of decline, in a market that has not yet found reasons for a rebound, with pessimism exacerbated by the company’s crisis in the real Chinese estate Evergrande.

Analysts from the IG brokerage house highlighted the high level of volatility as a risk factor in the stock markets, as well as the increase in oil prices, with a barrel of Brent crude oil above $94.6.

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After a disappointing US consumer confidence index on Tuesday, during the day the main macroeconomic references of the session were the amount of money in circulation in the eurozone (08:00 GMT) the orders for US durable goods (12:30 GMT).

At 07:09 GMT on Wednesday, the selected Spanish stock market Ibex-35 fell 16.70 points, or 0.18%, to 9,350.20 points, while the FTSE Eurofirst 300 index of major European stocks fell 0.04%.

In the banking sector, Santander rose 1.3% after announcing a 39% increase in its cash dividend, BBVA gained 0.24%, Caixabank remained almost flat, Sabadell gained 0.79%, Bankinter gained revalued by 0.10% and Unicaja Banco increased by 2.00%.

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Among the major non-financial values, Telefónica fell 0.43%, Inditex lost 0.57%, Iberdrola fell 0.65%, Cellnex fell 0.73% and the oil company Repsol rose 0.49%.

Nation World News Desk
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