MADRID, 16 Oct. (EUROPA PRESS) –
The Ibex 35 closed with an advance of 0.59%, which brought it to 9,287.1 points at the close of the first session of a key week due to the start of the business results season in Spain, which will begin this Thursday with the publication of Bankinter’s third quarter accounts.
In addition to concerns about the persistence of inflation, the monetary policies of central banks to stop it and economic developments, investors are also paying attention to the conflict between Israel and Hamas, since it is a “new source of uncertainty,” if It remains in the background, according to XTB analyst Joaquín Robles.
“It is difficult to predict how it will evolve, as Iran’s involvement could destabilize the Middle East, but at the moment it seems difficult for it to spread. From a market perspective, the focus is on oil prices, bonds and the dollar,” he explains.
At the macro level, the acting Government has announced its growth forecast for this year for the Gross Domestic Product (GDP), which places it at 2.4%, three tenths above the previous projection, while has cut its estimate for the growth of the economy in 2024 by four tenths, to 2%, according to the 2024 Budget Plan sent to the European Commission.
Investors will remain attentive the rest of the week to several economic references: the ZEW index of investment confidence in Germany and unemployment in the United Kingdom on Tuesday and GDP, industrial production, unemployment and retail sales in China on Wednesday, in addition of inflation in the eurozone and the United Kingdom.
The biggest increases in the Ibex 35 have been recorded by ArcelorMittal (2.03%), Colonial (1.99%), Santander (1.79%), Merlin (1.76%) and Amadeus (1.51%). On the opposite side, the most punished values today have been Rovi (-2.73%), Ferrovial (-0.81%), Iberdrola (-0.43%) and Endesa (-0.29%).
Regarding the rest of the large European cities, Milan has appreciated by 0.55%, followed by London (0.41%), Frankfurt (0.34%) and Paris (0.27%).
The barrel of Brent fell below 90 dollars (giving 1.05%, to 89.93 dollars) due to the conflict between Israel and Hamas, while West Texas Intermediate fell 0.84%, to 86 $.94.
In the debt markets, the yield on the Spanish bond with a 10-year maturity stood at 3.899%, above the 3.88% at which it closed on Friday. In this way, the risk premium against German debt stood at 114 basis points, three tenths less.
For its part, the euro appreciated 0.33% against the dollar, until it was trading at an exchange rate in the markets of 1.0545 ‘greenbacks’ for each unit of the community currency.
