MADRID, 30 Oct. (EUROPA PRESS) –
The Ibex 35 increased the positive tone of the opening at midday this Monday and registered a rise of 1.2%, which allowed it to recover the level of 9,000 points – specifically, it stood at 9,025.3 integers -, a level at which it has already passed in several stages of the negotiation during the past week but at which it has not closed since last October 20.
The main indicator of the Spanish market thus rebounds strongly at the beginning of the week with only three stocks trading at losses (ArcelorMittal, Unicaja and Acerinox), while the rest of the index opts for advances with special prominence of financial entities and components large cap.
Before the start of the trading day, Unicaja Banco informed the National Securities Market Commission (CNMV) that it closed the first nine months of this year with an attributed net profit of 285 million euros, which is equivalent to an increase of 4.9% compared to the same period of the previous year; For its part, the market reacted at midday, placing the bank as the second biggest faller on the Ibex, falling nearly 3%.
Ahead was the steel company ArcelorMittal with its shares plummeting by 5% after learning of an agreement in principle for the nationalization of its operations in Kazakhstan after the fire declared last Saturday in a mine, which has resulted in the death of at least 45 workers, according to local press reports.
On the other hand, in the middle section of this Monday’s trading, the increases in Telefónica stood out (2.52%); Banco Sabadell (2.32%); Mapfre (2.1%); Repsol (1.86%); IAG (1.82%); Banco Santander (1.72%); Inditex (1.5%) and Caixabank (1.3%).
For their part, the main European markets were also favoring advances at midday: Frankfurt rose 0.63%; Paris 0.76%; London 0.78% and Milan 0.85%.
The week began in a context marked by uncertainty about the consequences of the conflict between Israel and Hamas after Israeli troops began ground operations in the Gaza Strip, the publication of business results and ‘macro’ references such as the advance CPI of Spain in October, as well as the monetary policy meeting of the United States Federal Reserve (Fed) in the middle of the week.
In the macroeconomic field, at the beginning of the session this Monday it was known that the Consumer Price Index (CPI) increased by 0.3% in October in relation to the previous month and kept its interannual rate unchanged at 3.5 %, due to the fact that the increase in electricity prices was offset by lower fuel prices and a less “intense” rise in food prices compared to that experienced a year earlier. Core inflation, for its part, moderated six tenths, to 5.2%.
Furthermore, this day it was learned that the economic confidence of the eurozone worsened again in October, accumulating six consecutive months of decline, which is why it has been at its lowest level for almost three years, although in the case of Spain the data has experienced the largest rise among the large economies of the eurozone.
On the other hand, Germany’s gross domestic product (GDP) recorded a contraction of 0.1% between July and September, after the 0.1% expansion in the second quarter, whose reading has been revised up one tenth by the Federal Statistics Office (Destatis), while the advanced inflation in October of the German country will be known at 2:00 p.m. this Monday (a drop of five tenths is expected, up to 4%).
In the middle section of the negotiation, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 89.43 dollars, 1.16% less, while that of Texas fell 1.38 %, up to $84.36, both affected by the escalation of tensions in the Middle East following the open war between Hamas and Israel, as well as the situation in Iran, in addition to pressures related to the conflict in Ukraine and the cut in the supply from Russia and Saudi Arabia.
In the currency market, the price of the euro rose 0.1% against the dollar, to 1.0577 ‘greenbacks’, while the interest on the long-term Spanish bond stood at 3.896% after subtracting two basis points, with the risk premium (the differential with the German bond) at 107 points.
