The Ibex 35 fails to hold on to the 11,200-point mark and closes with a 0.4% drop

Jul 29. () –

The Ibex 35 was ultimately unable to hold on to the 11,200-point mark it reached during the session, closing down 0.43%, dragged down by Wall Street.

For much of the day, the Madrid index has maintained an upward trend, although at around 3:00 p.m., shortly after the opening of the markets in the United States, it changed course until it fell and settled at 11,117.8 points.

With no major references on Monday, investors are awaiting the results and macroeconomic data that will begin to be known tomorrow: the publication of the GDP for the second quarter in the Eurozone or the CPI in some European countries, such as Spain, or employment data in the USA.

This week will continue to be marked by the publication of corporate results in Spain, such as Telefónica, Grifols, IAG and BBVA, and in the United States, where investors are awaiting the results of Apple and Microsoft, among other companies.

However, the big event will be on Wednesday, with the US Federal Reserve (Fed) monetary policy meeting. Analysts at Renta 4 expect the central bank to keep rates stable at 5.25%-5.5%, although they believe that the moderation in inflation, employment and private consumption data should lead to a “more dovish tone” from the president of the institution, Jerome Powell.

Meetings are also due to take place this week at the Bank of Japan and the Bank of England.

In this context, within the Ibex 35, the increases of Merlin Properties (+1.14%), Aena (+0.59%), Redeia (+0.49%), Unicaja (+0.45%), Solaria (+0.45%) and Acciona (+0.43%) stand out.

On the other hand, the biggest falls have been those of Banco Santander (-1.37%), IAG (-1.34%), Bankinter (-1.31%), Grifols (-1.30%), CaixaBank (-1.00%) and Inditex (-0.93%).

Among the other major European stock markets, London was the only market to close in positive territory, with a slight increase of 0.08%. Paris lost 0.98%, Frankfurt 0.53% and Milan 0.51%. In the US, the Dow Jones fell 0.01% and the S&P 500 0.8%, while the Nasdaq gained 0.37%.

On the commodities market, a barrel of Brent crude oil was quoted at $79.82, down 1.61%, while West Texas Intermediate (WTI) crude oil was at $75.82, down 1.72%.

On the debt market, the yield on Spanish 10-year bonds fell to 3.177%, from 3.234% on Friday. The risk premium thus stood at 82.1 basis points.

As for currencies, the euro fell by 0.34% against the dollar, reaching an exchange rate of 1.0818 ‘greenbacks’ for each unit of the common currency.