The Ibex 35 closed this Tuesday with a rise of 0.36%, which placed it on the verge of 11,000 points – specifically, it closed at 10,991.5 points – on a day in which it was confirmed that The Spanish economy grew by 2.5% in 2023.

The selective of the Spanish stock markets and markets was thus close to its maximums since 2017, a date since which it has not closed at 11,000 points, although this Tuesday it has managed to exceed that intraday level. Bankinter analysts estimated yesterday that the index could reach 12,000 points by the end of the year.

In the Spanish business field, the State Society of Industrial Participations (SEPI) – dependent on the Ministry of Finance – yesterday informed the National Securities Market Commission (CNMV) of the acquisition of a Telefónica share package equivalent to 3% of the share capital of the company.

The Government spokesperson and Minister of Education, Vocational Training and Sports, Pilar Alegría, reiterated this Tuesday that the Executive’s objective is to complete the purchase of 10% of Telefónica “as quickly as possible” and without affecting the company’s price. .

“What I can tell you is that, in terms of the deadlines to complete this purchase, it will be done as quickly as possible, in the shortest time possible, obviously, provided that, in addition, it does not affect the company’s price,” he said. Alegría stressed at the press conference after the Council of Ministers.

For its part, Repsol has acquired 40% of three industrial facilities that are part of Bunge Ibérica, one of Bunge’s subsidiaries in the Iberian Peninsula, for a total amount of 300 million dollars (276.5 million euros) and up to 40 million dollars (36.9 million euros) in additional contingent payments. The oil company also begins this Tuesday a share buyback program for an amount of almost 914 million euros.

In addition, the acceptance period for the public acquisition offers (OPA) proposed by the Apollo fund (through the instrumental company Manzana Spain Bidco) and ISQ and TDR (with its joint venture Amber EquityCo) on Applus has started this Tuesday, March 26, and will run until April 24.

On the macroeconomic agenda of the day, it has been known in Spain – in addition to the GDP data in 2023 – that the number of mortgages constituted on homes fell by 10.3% last January compared to the same month of 2023, to total 33,128 loans, with an average interest rate that shot up to 3.46%, levels unknown since December 2014.

Likewise, production in the services sector in Spain increased 4.2% year-on-year in January, which is 4.3 points above that registered in December and its largest increase since March 2023, according to data published by the National Institute of Statistics (INE).

For its part, in the United States it has been known that consumer confidence (Conference Board index) worsened in March, when an improvement was expected, while durable goods orders in February rose 1.4% compared to the previous month, in which they fell almost 7%.

Given this situation, IAG has been the value that has risen the most on the Ibex (1.92%), followed by Mapfre (1.84%), Telefónica (1.83%), Grifols (1.76%), Indra ( 1.62%) and Banco Sabadell (1.19%).

On the opposite side were Acerinox (-0.96%), Ferrovial (-0.76%), Acciona Energía (-0.71%), Enagás (-0.55%) and Bankinter (-0.53% affected by the ‘ex-dividend’ effect).

The evolution for the rest of the main European stock markets has also been positive: Milan has added 0.14%; London 0.17%; Paris 0.41% and Frankfurt 0.67%.

The barrel of Brent stood at $86.45 at closing time in Europe, 0.35% less, while West Texas Intermediate (WTI) fell 0.1%, to $81.88. .

In the debt market, the yield on the ten-year Spanish bond closed at 3.175% after subtracting three basis points, with the risk premium (the differential with the German bond) at 82.7 points.

In the currency market, the euro depreciated 0.1% against the dollar, to 1,083 ‘greenbacks’ for each unit of the community currency.