The Ibex 35 deflates in the last stretch and falls 0.61%, but saves the 11,200 points

September 10 () –

The Ibex 35 closed this Tuesday with a fall of 0.61%, reaching 11,203.5 points, in a day with few macroeconomic references and in which, from the business sector, the declines of the pharmaceutical company Rovi have stood out.

The Spanish index started the day with an upward trend that allowed it to advance comfortably above the 11,300 point mark. However, the advances stabilised and then fell sharply and the indicator went into losses, affected by the declines on Wall Street.

On the macro agenda, it was announced on Tuesday that Spanish industrial production rose by 4.4% in July compared to the same month in 2023, returning to positive rates after the decline recorded in June.

On the other hand, the German inflation rate for August was published, which was 1.9% year-on-year, one-tenth below the previous month’s reading.

The Treasury has also placed 2,133.65 million euros on Tuesday in a new auction of three- and nine-month bills, within the expected average range, and has done so by reducing the yield offered in both references to minimums from a year and a half ago.

In any case, investors’ attention remains focused on this week’s meeting of the European Central Bank (ECB), where a new cut in interest rates will probably be decided. In addition, it will be the first meeting of the ECB with José Luis Escrivá as governor of the Bank of Spain.

In this context, Colonial was the stock that gained the most at the close of the session (+1.91%), ahead of Cellnex (+1.55%), Fluidra (+1.49%), Endesa (+0.95%), Redeia (+0.69%), IAG (+0.57%) and Indra (+0.54%). On the other hand, Rovi (-7.05%), Sacyr (-3.24%, affected by the ‘ex-dividend’ effect), Puig (-2.88%), Banco Santander (-2.2%), ArcelorMittal (-2.13%) and Solaria (-2.07%) were on the other side.

Rovi shares have been the main focus of the day in the business world after it was revealed that the British private equity fund CVC Capital Partners is in negotiations to buy the pharmaceutical company’s third-party manufacturing business for more than 3 billion euros.

The common denominator among European markets was declines: Paris lost 0.24%, London 0.78%, Frankfurt 0.96% and Milan 1.12%.

In other markets, the price of a barrel of Brent crude oil fell to $69.15 at the closing time in the Old Continent, down 3.75%, while West Texas Intermediate (WTI) crude oil fell to $65.75, down 4.3%.

In the debt market, the yield on the 10-year Spanish bond closed at 2.949% after subtracting four basis points, with the risk premium (the differential with the German bond) at 82.2 points.

The euro was down 0.1% against the dollar at 1.1024 euros. An ounce of gold was up 0.23% at $2,512, while bitcoin was down 0.5% at $56,700.