MADRID, 26 Oct. (EUROPA PRESS) –
The Ibex 35 marked a decline of 1% at midday and stood at an intraday minimum of 8,888.2 points, while it digests the results of large companies such as Iberdrola and Repsol, while it awaits the decision on interest rates from the Central Bank European, from which the market expects a first pause – leaving them at 4.5% – after fifteen months of increases.
The Spanish stock started with declines that, however, managed to moderate and comfortably maintained the level of 8,900 points, a level that was finally lost at midday due to the bearish burden of Inditex and Repsol, which were among the biggest falls in the index with declines, respectively, of 2.2% and 1.8%.
Likewise, the day continues to be marked by uncertainty about the consequences of the conflict between Israel and Hamas after the Hebrew army carried out a “preparatory raid” in the Gaza Strip this morning as a preliminary step to a large-scale ground invasion.
Before the start of the trading day, Banco Sabadell informed the National Securities Market Commission (CNMV) that it obtained an attributable net profit of 1,028 million euros, 44.9% more compared to the same period of the previous year. and thus achieves the best result in its history.
Repsol, for its part, obtained a net profit of 2,785 million euros until September, which represents a drop of 14% compared to the same period in 2022, in a context marked by lower hydrocarbon prices and refining margins. compared to last year, in which they skyrocketed due to the energy crisis after Russia’s invasion of Ukraine. The company has warned that it will rethink its investment projects in Spain if the current regulatory and fiscal framework does not change.
Iberdrola also reported early to the CNMV that it recorded a net profit of 3,637 million euros in the first nine months of the year, which represents an increase of 17.2% compared to the same period last year – 22 .4% excluding the extraordinary derivative of the sale of part of the business in Mexico–.
Fluidra, for its part, recorded sales of 1,623 million euros between January and September, 16% less than the same period last year, “standing within the expected range,” as reported by the company in a statement.
In the macro field, this Thursday it was known that the Active Population Survey (EPA) for the third quarter of the year, a period in which unemployment rose by 92,700 people in the third quarter of the year, which represents 3.3% more than in the previous quarter and its largest rebound in absolute values in a third quarter since the summer of 2020, in the middle of the pandemic.
In the middle section of the session, the biggest increases within the Ibex 35 were recorded by Fluidra (3.78%), Banco Sabadell (3.75%), Caixabank (1.35%) and Unicaja (1.32%). , while on the opposite side the most prominent ‘red lanterns’ were Inditex (-2.2%), Aena (-2.1%) and Repsol (-1.88%), while Banco Santander and BBVA They left almost 1%.
The main European stock markets were also trading at noon this Thursday with a negative sign: London was down 0.53%; Paris 0.63%; Milan 0.72% and Frankfurt 1.3%.
It should be noted that Siemens has asked the German Government for guarantees for a possible rescue of Gamesa when the financing of the banks was interrupted (the company was therefore leaving 30% on the Frankfurt stock market).
At the same time, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 89.3 dollars, 0.9% less, while Texas fell 1.04%, to 84.52 dollars, 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 supplies from Russia and Saudi Arabia.
In the currency market, the price of the euro, awaiting the ECB, fell 0.2% against the dollar, to 1.0546 greenbacks, while the interest on the Spanish debt stood at 3.995 %, unchanged from yesterday’s close, a situation that also affected the rest of the eurozone bonds.
