He Ibex 35 It turns upwards. A select 0.61% of the Spanish stock market rose to 9,235.17 points. The agreement-in-principle on the US debt ceiling is awaiting a vote in Congress on Wednesday and then going to the Senate to be signed by United States President Joe Biden.
The National Selective was encouraged after a 0.12% decrease, recorded on Monday, in a session that did not refer to Wall Street or the London Stock Exchange, both of which were closed for Memorial Day celebrations.
“Low activity in the Spanish stock market prevented us from being able to determine how investors received both the results of last Sunday’s local elections, as well as News of dissolution of Mandals and call for next general elections on 23rd JulyElections that will take place in the middle of summer and with many Spaniards on vacation ”, explain the analysts of Link Gasteón.
But just before the opening of this Tuesday it is known that Spain’s consumer price index (CPI) fell 0.1% in May compared to the previous month and its inter-annual rate decreased by nine tenths to 3.2%. The lowest level since July 2021, due to lower food prices and lower fuel prices.
Ahead of the half session, the biggest gainer in Ibex 35 was Fludra at 1.88%; Sabadell, 1.82%, and CaixaBank, 1.62%. In contrast, the biggest decline was in Solaria at 1.01%; Acciona, 0.65%, and Grifols, 0.56%.
The rise of Ibex 35 is the biggest among European stock markets In a session with mixed trends. while Frankfurt rose by 0.56% and Milan by 0.36%; Paris shed 0.18% and London shed 0.24%. The Euro Stoxx 50 adds 0.31%.
The old continent’s indices are still in the red pending an increase in the debt ceiling limit in the United States.
On Monday, President Biden and Republican leader Kevin McCarthy were lobbying lawmakers from their respective parties with the goal of securing the votes needed to pass the bill in both houses.
In principle, the text is expected to be voted on in the House of Representatives (the lower house of the US Congress) this Wednesday and later, it will be passed in the Senate (the upper house), which will probably be approved later this week .
Despite the fact that some of the most radical Republicans and Democrats are likely to vote against it, Link Gestione believes that “the bill will garner enough votes from legislators of both parties in both houses.”
“Beyond this either scenario will create strong stress in the stock markets. Nevertheless, it is possible that until the approval of the text is a reality, investors will continue to act very prudently, which will continue to be seen at lower-than-usual levels of activity in European and US stock markets. They point out.
Beyond the US debt ceiling, they are also listed First relevant data of the week.
known as eurozone economic confidenceThe index, prepared by the European Commission, fell to 96.5 in May from 99.3 in April. The decline was more than expected by analysts, who had forecast a decline of 98.9 points.
In the afternoon, and in the United States, the Consumer Confidence Index for the month of May will be published, prepared by consulting firm The Conference Board. Forecasts point to a slight decline in this index compared to the previous month.
A bigger-than-expected decline in May, according to the analyst consensus, may not be received well by investors, as it would point to lower consumption and, therefore, lower growth in this economy.
euro It loses ground against the dollar and 1,071 turns into ‘green bills’.
brent oil price The reference version in Europe fell 1.92% to $75.62 a barrel.
Spanish 10-year bond yield This has been reduced to 3.444%; While Spain’s risk premium declined to 105.45 basis points.