The Spanish index stands out from Europe by making progress
Dec. 16 () –
The Ibex 35 closed the first session of the week with a rise of 0.23%, reaching 11,778.6 points, in a day marked by the publication of economic activity data on both sides of the Atlantic Ocean.
All in all, the stock markets will be trading this week around this Wednesday’s meeting of the United States Federal Reserve (Fed), which will be joined by the meetings of the Bank of England and the Bank of Japan the following day, Thursday.
In addition, investors are attentive to the evolution of China, whose economy is showing signs of weakness. Specifically, retail sales grew by only 3% in November, compared to the 5% expected by the market and 4.8% the previous month. However, real estate investment has fallen by 10.4% while property sales have fallen by 20%. Housing prices have also continued to fall, although they have moderated their decline, according to Renta 4 analysts.
Experts also highlight several political references: the vote of confidence in the German Chancellor, Olaf Scholz, which will “probably” lead to early elections in February; the appointment of François Bayrou as the new prime minister in France last Friday; and the dismissal of the president of South Korea, Yoon Suk Yeol, this Saturday, as a result of having implemented martial law for a few hours on December 3.
Going into the details of the current day, it is worth highlighting the publication of the preliminary PMIs: in the eurozone, the private sector has improved in December thanks to the services sector, although it remains in the contraction area, with the index standing at 49 .5 (compared to 48.3 the previous month), that is, below the 50 points that separate contraction from growth.
The IFO confidence index for German companies was also released today, which shows that these companies do not expect their economic situation to improve next year. Specifically, 56% believe that their prospects will remain the same, while 31% believe that they will worsen.
In the United States, the PMI manufacturing activity index in December has worsened its situation in a recessive zone more than expected, although in parallel the services sector has notably improved its position in expansionary territory when a contraction was expected. In short, the composite PMI has improved its activity, going from 54.9 to 56.6 points, above expectations.
On the other hand, the president of the European Central Bank (ECB), Christine Lagarde, stated this Monday that it will be possible to continue lowering interest rates in the future given the consolidation of the disinflation process.
In this context, the advances of the Spanish selective have been led by Grifols (+3.83%), Unicaja (+2.3%), Rovi (+1.61%), IAG (+1.56%), Ferrovial (+1.03%) and Banco Sabadell (+0.94%). On the other hand, the most notable decreases have been for Cellnex (-2.23%), Puig (-2.12%), Acciona (-2.03%), Solaria (-1.94%), Colonial (- -1.35%) and ArcelorMittal (-1.31%).
As for the rest of the European selectives, the majority have concluded the negotiation with losses: Milan has subtracted 0.43%; Frankfurt 0.45%; London 0.46% and Paris 0.71%
On the other hand, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at $73.85 at closing time, 0.85% less, while Texas fell 0.95% , up to $70.6.
In the currency market, the price of the euro against the dollar stood at 1.051 ‘greenbacks’, while in the debt market, the interest required on the 10-year bond closed at 2.932% after adding one point basic, with the risk premium with respect to the German bond at 68.8 points.
For its part, the troy ounce of gold rose by 0.17%, to $2,652, while bitcoin rose by 4% and reached a new all-time high at $107,000 in line with the ‘bullish rally’ that began after Donald Trump’s victory in the United States elections.
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