The Ibex 35 falls 0.21% after the new ECB rate cut and is below 11,800

MADRID Dec. 12 () –

The Ibex 35 closed this Thursday with a fall of 0.21%, reaching 11,764.8 points, in a day marked by the new quarter-point cut in interest rates by the European Central Bank (ECB). .

The market assumed that the organization was going to apply a drop of 25 basis points, the fourth since June, which has placed the reference rates at 3%.

In that sense, the Spanish selective has hardly registered any volatility during the session and has fluctuated at all times at levels close to yesterday’s close, having finally opted for the negative sign in the face of bearish pressure from Inditex, which has extended the negative ‘rally’ the day before – when it presented record results but which disappointed the market -.

THE ECB has also communicated that the disinflation process continues to advance. In this way, it has predicted that general inflation will average 2.4% in 2024, 2.1% in 2025, 1.9% in 2026 and 2.1% in 2027, when the regime expanded European Union (EU) emissions trading scheme begins to apply.

Continuing in the wake of monetary policy, this day also highlighted the decision of the Swiss National Bank to reduce the reference interest rate by 50 basis points, to 0.5%, which represents the fourth price reduction of money in the Swiss country since last March the institution decided to begin reversing its restrictive monetary stance.

In addition, yesterday the CPI for November in the United States was released, which confirmed investors’ forecasts by standing at 2.7% in the general rate and 3.3% in the underlying rate. In this way, the market already discounts that the Federal Reserve (Fed) will lower rates next week by 25 basis points.

Also in the United States, this Thursday the producer price indicator in November has risen 3% in the internal rate, above what analysts expected, while the monthly advance has been 0.4 %, double what was anticipated.

In the Spanish business field, Grifols has signed an agreement to carry out a private placement of guaranteed bonds of 1,300 million euros maturing in May 2030, an annual coupon of 7.125% and issuance at par, while also signing an agreement to extend its current multi-currency revolving credit facility (‘RCF’) until May 2027.

Ferrovial, for its part, will distribute among its shareholders a new flexible dividend of 0.4597 euros per share, or one new share for every 80.1694 existing shares, starting next Friday, December 13, which means the distribution of 330 million euros.

In addition, Grupo Dia will vote at its next extraordinary general meeting of shareholders, which will be held on December 27, on the refinancing of its debt with an agreement of 885 million euros and the implementation of a share grouping operation (‘contrasplit’). .

In this context, Grifols has posted the best result within the Ibex 35, recording an increase of 8.44%, followed by Aena (+1.72%), BBVA (+1.66%), Puig (+1, 53%), Sabadell (+1.46%) and Sacyr (+0.77%).

On the other hand, the biggest falls have been those of Inditex (-2.84%), Solaria (-1.69%), Endesa (-1.62%), Redeia (-1.6%), Fluidra (- -1.47%) and Acerinox (-1.38).

The main European stock markets have closed with a mixed sign after the decision of the ‘guardian of the euro’: Paris has closed with a minimum negative result of 0.03%, while London has added 0.12%; Frankfurt 0.13% and Milan 0.36%.

On the other hand, at closing time in the Old Continent the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 72.95 dollars, 0.78% less, while the reference for the United States United States, the barrel of Texas, depreciated by 0.75, to 69.8 dollars.

In the foreign exchange market, the price of the euro against the dollar appreciated by 0.2%, reaching 1.0515 ‘greenbacks’, while, in the debt market, the interest required on the bond at 10 years has closed at 2.868% after adding ten basis points, with the risk premium with respect to the German bond at 66.5 points.

For its part, gold moderated by 1.25% and was trading at $2,680 after the rebound in recent days due to tension in Syria, while bitcoin was trading unchanged at $102,000.