The Ibex 35 reduces losses at midday to 0.75% and recovers 11,500 points

MADRID 12 Nov. () –

The Ibex 35 registered a decrease of 0.75% at midday this Tuesday, reaching 11,510.4 points, in a day marked once again by the echoes of the United States elections and the publication of business results.

The main indicator of the Spanish market thus moderated the opening losses, which have reached greater than 1% and have caused the indicator to lose the level of 11,500 integers, a level that it tried to consolidate in the middle section, despite trading with almost all its values ​​in negative.

Within the macroeconomic agenda, this Tuesday it was confirmed that Germany’s year-on-year inflation in October rose to 2% compared to 1.6% in September.

Continuing with the German country, it has been known that the confidence of German investors has deteriorated again in November, after rising in October for the first time since June, weighed down by the victory of Donald Trump in the elections to the White House and against the uncertainty due to the open political crisis in Germany after the collapse of the government coalition, according to the ZEW indicator.

On the other hand, investors will in turn be awaiting the monthly OPEC report, at times of maximum volatility in oil prices, as well as the publication of business results.

For the week as a whole, the market’s attention will also be on the October CPI and consumption data in the United States, while in Europe, the second inflation reading for October from Spain and France, and Domestic Product figures, stands out. Gross (GDP) of the eurozone and the United Kingdom.

Back with Spain, the Public Treasury has placed 1,840.2 million euros this Tuesday in a new auction of three- and nine-month bills, within the expected mid-range, and has done so by cutting the profitability in both references, according to the data published by the Bank of Spain.

Under the business umbrella, ScottishPower, the British subsidiary of Iberdrola, has awarded a turbine contract worth more than 1,000 million pounds (1,206 million euros) for its East Anglia TWO offshore wind farm, both companies have reported in a joint statement. .

In the middle section of trading this Tuesday, the biggest declines within the Ibex 35 were recorded by Merlín Properties, which lost 5.13%, followed by Colonial (-3.3%), Acerinox (-2.58% ), ArcelorMittal (-1.85%), Cellnex (-1.83%), Puig (-1.74%) and Rovi (-1.13%).

It should be noted that the two socimis, Merlín and Colonial, are penalized after the Government agreed yesterday to eliminate the special taxation that characterizes this type of companies.

At the opposite extreme, only five stocks registered gains: Ferrovial (+0.44%), Bankinter (+0.4%), Endesa (+0.34%), Repsol (+0.3%) and IAG (+ 0.17%).

The main European stock markets also opted for the negative sign: Frankfurt fell 0.8%; Milan 0.92%; London 0.96% and Paris 1.12%.

In other geographies, Wall Street continues to push upward after Trump’s electoral victory (the S&P 500 signed a new historical maximum at 6,000 points), while the Asian stock markets continue to fall (the Hang Seng has dropped almost 3% this early morning).

At noon this Tuesday, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 72.43 dollars, 0.84% ​​more, while Texas rose 0.88%, to $68.63.

In the currency market, the price of the euro against the dollar stood at 1.063 ‘greenbacks’, 0.25% less than the day before, while in the debt market, the interest required on the bond at 10 years it relaxed to 3.032%, with the risk premium with respect to the German bond at 73 points.