Wednesday, October 4, 2023

IBEX fell 0.33% on the day marked by Inditex and US inflation

The IBEX 35 fell 0.33% on Wednesday, reaching 9,424.1 points, in a session marked by the results of Inditex and the inflation data from the United States in August, an indication of the latter may determine the decision of European interests, during the monetary policy meeting of the European Central Bank (ECB) scheduled for Thursday. The European monetary authority may consider raising the price of the currency by another quarter point, 0.25%, to bring interest rates from 4.25% to 4.50%. Instead, it can The North American inflationary data justifies a new stop by the Fed in its monetary policy in September.

With these expectations unresolved, the trading day this Wednesday passed with many ups and downs. Not only in the Spanish market. The rest of Europe also lost positions in a more significant way. It started lower and at noon it lost more than 1%, endangering the level of 9,300 integers, affected by the reductions of Inditex, the most important value of the selection. However, it changed direction and sharply reduced the losses until the end of the session after the release of US CPI data for August, where the Federal Reserve (Fed) will pivot at the meeting scheduled for next week.

Today knows that too The United Kingdom economy fell by 0.5% in July compared to the previous month, weighed down by the three main sectors of the economy, especially for services, a figure that contrasts with the 0.5% growth recorded in Europe’s second largest economy in June.

Listed companies in Spanish selective have a reaction with a slight loss of 0.47% of the value of the session, Inditex, after falling 4% during the session. Specifically, the company founded by Amancio Ortega registered a net profit of 2,513 million euros in the first half of the 2023-2024 fiscal year (between February 1 and July 31), which represents an increase of 40 , 1% compared to the same period. a year before, while sales grew by 13.5% and reached 16,851 million euros.

Among the remaining large amounts, Solaria Energía (+ 5.23%), Mélia Hotels (+ 1.22%), Indra (+ 1.02%) and Colonial (+ 0.82%) led the improvements, followed by Telefónica, which increased by 0.43%; BBVA, 0.37%; Santander, 0.23%. On the contrary, on the side of Ibex falls, Aena (-3.21%), IAG (-2.47%), ArcelorMittal (-2.08%), Grifols (-1.52%), Fluidra (-1.48%), Bankinter (- 1.48%) and Caixabank (-1.45%).

The IBEX 35 has accumulated an increase of 14.52% since January, according to market data consulted by Eph.

In the debt market, the Spanish bond yield with a 10-year maturity rose to 3.717% after adding two basis points. In this way, the risk premium (the differential of the German bond) stands at 107 basis points.

In the foreign exchange market, pending the decision of the ECB, the euro fell by 0.16% against the dollar, reaching an exchange rate of 1.0737 dollars for each euro.

Nation World News Desk
Nation World News Desk
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