The Ibex 35 consolidates above 11,900 in the mid-session, with an increase of 0.45%

MADRID Dec. 4 () –

The Ibex 35 stood at 11,926.7 points in the mid-session this Wednesday, which implies an increase of 0.45%, above the 0.14% increase recorded at the opening.

Investors will be attentive to the intervention of the president of the European Central Bank (ECB), Christine Lagarde, in the Committee on Economic and Monetary Affairs of the European Parliament. On the other side of the Atlantic, the president of the Federal Reserve, Jerome Powell, will also intervene.

Likewise, in the international arena, the political risk in France as well as the instability in South Korea is also hovering over the markets, after the country’s president declared martial law this Tuesday.

Regarding Spain, it has been known that private sector activity maintained a robust pace of expansion in November, although growth slowed to its lowest level since the beginning of the year, as reflected by the composite PMI index, which fell to 53.2 points from 55.2 the previous month.

Spain’s situation contrasts with that of the euro zone, whose activity level fell to 48.3 points, from 50 the previous month. It is the worst reading of the data in ten months and pushes the euro region towards stagflation, dragged down by the contraction observed in three of the four main economies of the bloc, with the exception of Spain.

In this context, IAG led the Spanish selective, planning above the rest of the values, with an increase of 3.11%. Below were Acerinox (+1.78%), Banco Sabadell (+1.49%), Inditex (+1.46%), Enagás (+1.17%), and Merlin (+1.17%). .

On the opposite side were Acciona (-1.27%), Grifols (-1.22%), Solaria (-0.78%), Redeia (-0.70%) and Telefónica (-0.60%).

The evolution in the rest of the main European stock markets in the mid-session was fundamentally positive, with the exception of London, which fell 0.34%. Paris progressed 0.32%; Frankfurt, 0.83%; and Milan, 0.87%.

In the raw materials market, a barrel of Brent stood at $73.94, 0.43% higher, while West Texas Intermediate (WTI) rose 0.33%, to $70.16.

In the debt market, the yield on the Spanish bond with a 10-year maturity climbed to 2.800%, from the 2.762% recorded at the close of Tuesday. In this way, the risk premium against German debt stood at 71.4 basis points, six tenths more.

Regarding currencies, the euro depreciated 0.10% against the dollar in the mid-session, until trading at a level of 1.0500 dollars for each euro.