The Ibex 35 rebounds 0.55% at midday and recovers 11,500 points while waiting for the Fed

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MADRID 7 Nov. () –

The Ibex 35 registered an increase of 0.55% at midday this Thursday, reaching 11,558.2 points, on a day of electoral hangover after Donald Trump’s victory in the United States presidential elections and waiting, in that same country, of the rate decision of the United States Federal Reserve (Fed).

The Madrid selective received Trump’s arrival to the White House with losses, as this Wednesday it signed its worst session (-2.9%) since March 2023, when the US regional banking crisis worsened in the markets and found its echo in Europe in the bankruptcy of Credit Suisse and the subsequent takeover by UBS.

Looking ahead to the Fed meeting, Banca March experts have commented that they expect a new rate cut of 25 basis points – just like the consensus – and will wait to see if there is any allusion to the new political environment in the United States. mainly referring to the public deficit or inflation.

“The market only discounts four more drops until the end of 2025,” they have framed.

In the Spanish business field, still marked by the publication of results, this Thursday it was announced that Telefónica earned 989 million until September, 21.7% less, due to an accounting adjustment in its subsidiary in Peru. This is an impairment of goodwill and other intangible assets, without cash effect, in Peru, of 314 million euros.

In adjusted terms, without taking into account this extraordinary effect, its profits would have been 1,914 million, with an increase of 16.8% year-on-year.

Likewise, Rovi obtained a net profit of 113.5 million euros in the first nine months of the year, a figure 4% lower than that of the same period in 2023, when it earned 118.8 million euros, while ArcelorMittal obtained a profit net attributable amount of 1,607 million euros, 55.5% less.

Amadeus, for its part, recorded profits of 992.1 million euros between January and September, 17.8% higher than the 841.9 million euros in the same period of the previous year.

In the macroeconomic sphere, the Public Treasury has placed 4,492.732 million euros this Thursday in an auction of State bonds and obligations, in the expected medium range, and has done so by raising the interest offered to investors for the reference to 30 years to 3.881%, according to data published by the Bank of Spain.

Within the European agenda, the monetary policy meeting of the Bank of England (BoE) stands out, while retail sales in the eurozone have risen 2.9% year-on-year in September and 0.5% compared to August.

On the other hand, it should be noted that German industrial production fell 4.6% year-on-year in September, while the monthly decline was 2.5%, much more than expected by the market.

In the middle section of the negotiation, the greatest increase within the Ibex 35 was recorded by ArcelorMittal, which rose 6.13%, followed by Acerinox (+4.26%), Banco Sabadell (+3.68%) and BBVA (+3.46%).

On the other hand, on the decline side, Rovi stood out, losing 8.53%; Telefónica, which fell 3.1%, dragged down by the declines of BT in the United Kingdom, and IAG, which lost 3%.

For its part, the rest of the European markets also rebounded at midday after the negative close the day before: London added 0.05%; Milan 0.24%; Paris 0.44% and Frankfurt 1.2%.

At the same time, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 74.24 dollars, 0.9% less, while Texas fell 1.17%, to $70.82.

In the currency market, the price of the euro appreciated 0.3% against the dollar and stood at 1.0761 ‘greenbacks’, while in the debt market, the interest required on the 10-year bond It climbed to 3.233% after adding almost one tenth, with the premium compared to the German bond at 75 points.

The troy ounce of gold rose by 0.27% and was trading at $2,666, while bitcoin fell 1.5%, to $75,000, although it reached a new all-time high last night above $76,000. .