MADRID 22 Oct. () –
The Ibex 35 has moderated its fall at the close of the session, losing only 0.07%, which has allowed it to maintain the level of 11,800 integers, after having lost up to 1.2% today and go down to 11,600 integers.
At the beginning of the session in Europe, Renta 4 analysts pointed to the rebound in US and German bonds due to the possibility of a “cooling” of expectations of rate cuts by the US Federal Reserve (Fed) given the resilience of the US economy and the impact of a possible victory of Donald Trump in the presidential elections on November 5.
“While at the beginning of the month the market assumed a 25 bp cut for sure at the next meeting on November 7 and placed the probability of a 50 bp cut at 40%, currently it does not even discount the probability at 100%. that the cut is 25 bp”. Currently, the probability is at 90%.
Today the yield on the 10-year US bond remained at 4.2%, while the yield on German long-term debt remained at 2.3%, after increasing about three basis points compared to yesterday’s session. . In the case of the Spanish bond, it reached 3%, with the risk premium at 71 basis points.
In addition, the publication of results continues in both the US and Europe, where the accounts of SAP, which has revised its annual forecasts upwards and hit highs on the stock market, and Munich Re, which has warned of the impact of natural catastrophes, have been released. in its third quarter results and has led it to lose around 2.75% in today’s session.
In addition, the International Monetary Fund (IMF) has revised upwards its economic forecasts for Spain by estimating that the country’s GDP in 2024 will grow by 2.9%, one point more than what it forecast in April and five tenths more than those of July, while keeping the 2.1% expansion forecast for 2025 unchanged.
In this context, the Ibex 35 closed at 11,832.7, weighed down by Acciona Energía, which collapsed 5.88% after Goldman Sachs lowered its stock market potential. They have been followed by Acciona (-4.12%), Solaria (-3.63%), Cellnex (-2.29%), Iberdrola (-1.53%) and Naturgy (-1.20%). On the increase side, those of Indra (+3.74%), Fluidra (+2.51%), Puig (+2.38%), Grifols (+1.70%), Sacyr (+1 .22%), Repsol (+1.14%) and Amadeus (+0.86%).
The rest of the European indexes have also closed flat or with slight corrections, except for Milan, which has lost 0.64% in the session. Frankfurt lost 0.20% and London lost 0.14%, while Paris ended with a fall of 0.01%.
A barrel of Brent was trading at $75.98, up 2.26%, while West Texas Intermediate (WTI) rose 2.58%, to $72.38.
Regarding currencies, the euro depreciated 0.10% against the dollar, trading at an exchange rate of 1.0804 ‘greenbacks’ for each unit of the community currency.
Add Comment