The Ibex 35 closes with a 0.5% advance, but remains far from the 11,200 points mark

Jul 22. () –

The Ibex 35 closed the first session of the week with a gain of 0.51%, which, however, was not enough to reach the 11,200 point mark, remaining at 11,143.8 points.

The focus of the day has been on investors’ reaction to the decision of the current US President, Joe Biden, to withdraw as a Democratic candidate in the presidential elections, which will be held in November, which means ruling out his re-election.

Both European and US stock markets have reacted with gains: in the US, the S&P500 rose by 0.51%, while the Nasdaq gained 0.72% at the close of the session in Europe, while the Dow Jones fell by a slight 0.04%.

In Europe, the main indices were all in the green: Frankfurt rose by 1.29%, Milan by 1.17% and Paris by 1.17%. London also registered a rise, albeit smaller, of 0.53%.

In addition, the reference to China stands out, since the People’s Bank of China (PBOC) has unexpectedly reduced this Monday by ten basis points the interest rates of its main 1 and 5-year lending facility, considered respectively as reference for consumer loans and mortgages, in addition to a reduction of one tenth in the rate applied to short-term operations, with a seven-day maturity.

In Spain, investors are also focused on the presentation of results tomorrow, which will feature Banco Sabadell, Enagás and Naturgy.

Furthermore, Puig debuted today on the Ibex 35, becoming the second biggest riser of the day on the Madrid index, with an advance of 3.08%. Rovi was ahead (+3.77%), while the Catalan group was followed by Sabadell (+2.78%), Fluidra (+2.35%), Santander (+2.18%) and Indra (+2.10%).

On the decline side, IAG (-3.50%), Aena (-2.05%), Acciona Energía (-1.43%), Solaria (-1.26%), Grifols (-0.93%) and Amadeus (-0.56%) stood out.

On the commodities market, a barrel of Brent crude oil was trading at $82.32, down 0.38%, while West Texas crude was trading at $79.80, down 0.41%.

In the debt market, the yield on the 10-year Spanish bond stood at 3.255%, while the risk premium stood at 76.8 basis points.

On the foreign exchange market, the euro fell by 0.02% against the dollar, trading at 1.0880 euro for each unit of the common currency.