The Ibex 35 rises in the last stretch and rises 0.19% encouraged by Wall Street

July 18 () –

The Ibex 35 has resumed promotions this Tuesday with a rise of 0.19% after closing on Friday in ‘red’ and yesterday in ‘tables’ and has stood at 9,455.7 points, thanks to the comeback in the last section of the negotiation caused by the rises of Wall Street.

Specifically, the selective started with losses and traded for a good part of the day fighting for the whole 9,400, but changed its trend and went to profits motivated by the rises in New York (its main indicator, the Dow Jones, registered a advance of 1% at closing time in Europe), where it has been known that retail sales rose in June less than expected in the monthly rate and industrial production has worsened when it was expected to stagnate.

These weaker-than-expected macroeconomic data fed investors’ hypothesis that the slowdown in the economy could cause the Federal Reserve (Fed) to adopt a softer monetary policy at its next meeting to curb inflation after the Recent employment data has been stronger than expected.

At the same time, in the United States, the season of corporate results continues with Bank of America, which has increased its profit by almost 17%, and Morgan Stanley, which has reduced it by 16% but has improved market forecasts.

After learning yesterday the “weak data” for GDP for the second quarter and activity in China in June, Renta4 analysts have pointed out that several global banks have cut their growth forecast for 2023 to 5%, “putting the objective of the Chinese government”.

In the words of Janet Yellen, US Treasury Secretary, “the slowdown in the Asian giant could have negative implications for global growth (although limited in the US)”. For its part, China will try to boost private consumption with new stimuli, experts add.

Within the Ibex 35, the biggest increases have been carried out this Tuesday by Solaria Energía (+2.77%), Indra (2.25%), Banco Santander (+1.78%), Unicaja (+1.58%) , Rovi Laboratories (+1.45%) and Repsol (+1.26%). In contrast, the most pronounced falls have been from Fluidra (-1.77%), Endesa (-1.17%), Telefónica (-1.17%) and Cellnex (-1.05%).

The rest of the European markets have also turned towards gains in the last stretch and have closed with gains: Milan has added 0.34%; Frankfurt 0.35%; Paris 0.38% and London 0.64%.

At the close of the trading session, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 1.57%, to 79.73 dollars, while Texas stood at 75.52 dollars, a 1 .86% more.

In the foreign exchange market, the price of the euro against the dollar stood at 1.1223 ‘green bills’, while the interest on the ten-year Spanish bond closed at 3.381% after subtracting almost twelve basis points and the risk premium (the differential with the German bond) remained at 100.6 points.