The Ibex 35 gives up 0.1% in the mid-session and puts 11,300 integers in danger

May 23. () –

The Ibex 35 lost 0.17% in the mid-session, thus standing at 11,309.2 integers, after today’s release of the eurozone PMIs, which show an acceleration in private sector activity, which reached a maximum of twelve in May. months.

However, analysts highlight two references that come from the United States and were known at the close of the European stock markets: on the one hand, Nvidia has once again exceeded expectations by obtaining a net profit of 14,881 million dollars (about 13,747 million euros) in the first quarter of its fiscal year (from February to April), which means multiplying by more than seven the profits of 2,043 million dollars (1,887 million euros) that it achieved in the same period of the previous year (+628 %).

In addition, the minutes of the last meeting, held at the beginning of May, of the US Federal Reserve (Fed) were published, which reiterated that they reflect the perception of central bankers that inflation had not evolved during the first quarter in the same way. in which they expected.

“However, the data after the Fed meeting have shown a slowdown in both prices and the labor market and private consumption,” say Renta 4 analysts, who maintain their forecast of two rate cuts. in 2024, starting after the summer.

On the other hand, in Europe, the cut would begin in June, as the vice president of the European Central Bank (ECB), Luis de Guindos, made clear today. The next meeting of the institution is scheduled for June 6 and an adjustment of 25 basis points is expected.

“We are adopting a prudent approach, which would favor a reduction of 25 basis points,” the Spanish economist specifically noted in an interview with the Austrian newspaper ‘Oberösterreichische Nachrichten’, in which he underlines that the ECB has not made any decision on the number of interest rate cuts or their magnitude given the high degree of uncertainty.

In the Spanish business field, OHLA published its accounts for the first quarter of the year before the market opened, when it recorded net losses of 4.7 million euros, a figure 39.7% lower than the negative result of 7.8 million euros that it obtained in the same period of 2023.

For its part, Técnicas Reunidas expects to multiply its operating result (Ebit) by more than two in the coming years, reaching around 380 million euros in 2028, compared to 157 million at the end of 2023, and will recover the dividend in 2026, with an initial pay-out of 30%.

Precisely, the shares of Técnicas Reunidas shot up almost 15% this Thursday on the Stock Exchange in the mid-session, with its shares exceeding 12 euros, which led it to lead the increases in the Continuous Market.

Regarding the Ibex 35, the biggest increases in the middle section of the session were Rovi (+1.97%), Solaria (+1.87%), Repsol (+0.88%), Unicaja (+0.82 %) and Inditex (+0.80%). On the other hand, the most notable falls were those of Bankinter (-1.72%), Merlin (-1.38%), Acciona (-1.19%), Cellnex (-1.13%) and Sacyr ( -1.03%).

Compared to the Ibex 35, the rest of the main European stock markets were trading with advances in the mid-session: Frankfurt rose 0.28%, followed by Paris (+0.22%), Milan (+0.18%) and London (+ 0.02%).

The price of a barrel of Brent quality oil, a reference for the Old Continent, rose 0.60%, to $82.39, while Texas stood at $78.01, up 0.57%.

In the currency market, the price of the euro against the dollar appreciated 0.22% to 1.0847 ‘greenbacks’, while in the debt market the interest required on the 10-year Spanish bond fell to 3.290 %, with the risk premium at 76 basis points.