Jul 17. () –
The Ibex 35 closed Wednesday’s session up 0.13%, allowing it to recapture the 11,100-point mark it had lost yesterday, despite experiencing some volatility throughout the session.
The main focus of the macroeconomic agenda on Wednesday is the eurozone inflation rate, which stood at 2.5% year-on-year in June, one-tenth below the rise in prices observed in May, according to the second reading of the data published by the European statistical office, Eurostat, while in the European Union (EU) as a whole the rate fell one-tenth, to 2.6%.
For its part, the United Kingdom’s annual inflation rate stood at 2% last June, unchanged from the rise in prices recorded in May, thus repeating the lowest reading of the index since July 2021, according to data published by the Office for National Statistics (ONS), thus opening the door to a cut in interest rates in August by the Bank of England.
In the United States, industrial production for June and the Beige Book of the Federal Reserve (Fed) will be released this afternoon, with investors looking for clues regarding monetary policy.
In the business field, the board of directors of Lar España, meeting on Tuesday, approved the creation of a ‘Monitoring Committee’ for the voluntary Takeover Bid (OPA) made by the real estate fund Hines and Grupo Lar, through the Spanish company Helios, on the socimi to make decisions and carry out the corresponding actions in relation to said operation.
In addition, Grifols has reorganized its board of directors and has assured that it will continue to comply with the “best” practices of good governance, in a context marked by the recent departures of independent directors Claire Giraut and Carina Szpilka Lázaro, and by the possible public takeover bid (OPA) of exclusion that would be carried out jointly by family shareholders and the Brookfield fund.
“There are currently two vacancies and the board will evaluate what is best for the company to continue fulfilling its role as it has always done, with the best practices of good governance,” company sources told Europa Press.
Also in Spain, it is worth noting that the Ministry of Labour and Social Economy has met with unions and employers in a new meeting to move forward in the social dialogue table to reduce the working day, after bringing positions closer to CEOE.
At the meeting, the Secretary of State for Labour and Social Economy, Joaquín Pérez Rey, has conveyed to the social agents the desire to work on the possibility of gradually incorporating the 37.5-hour work week, giving more flexible deadlines throughout 2025, with which he intends to reach an agreement that includes the employers’ associations CEOE and Cepyme.
In this context, the Ibex 35 closed at 11,105.2 points, with Acciona Energía (+2.54%), Sabadell (+1.96%), Naturgy (+1.77%), Acciona (+1.44%), BBVA (+1.43%) and Telefónica (+1.37%) registering the biggest increases. On the other hand, the most notable decreases were those of Merlin Properties (-3.91%), Meliá (-3.26%), Inditex (-1.39%), Amadeus (-1.27%), Colonial (-0.83%) and Rovi (-0.81%).
The main European stock markets closed with mixed results: while London closed with a rise of 0.28% and Milan, 0.03%, Paris lost 0.12% and Frankfurt, 0.44%.
The price of a barrel of Brent crude oil, the benchmark for the Old Continent, rose 1.30% at the close of trading in Europe, to $84.81, while Texas crude, which rose 2.15%, stood at $82.50.
On the currency market, the euro against the dollar strengthened by 0.3% to 1.0932 greenbacks, while on the debt market the interest rate on 10-year Spanish bonds rose four basis points to 3.190%, with the risk premium (the differential with the German bond) at 76.2 points.
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