The Ibex 35 rises 0.5% at the close and registers highs since June, reaching 11,300 points

Aug. 27 () –

The Ibex 35 rose 0.55% at the end of the trading session and managed to secure 11,300 points, reaching 11,326.9 points, the highest level since June 10, when it closed at 11,357.2 points.

While investors are still closely following the escalation of tensions in the Middle East, they are still digesting the statements made by the president of the US Federal Reserve (Fed), Jerome Powell, at the Jackson Hole conclave, where he announced his intention to cut official interest rates in September.

While awaiting the preliminary CPI data for the Eurozone for August and the GDP data for the United States (US) for the second quarter, which will be released this week, the markets are awaiting the GDP data for Germany for the April-June period and the evolution of consumer confidence in the United States on Tuesday.

Another highly anticipated piece of information for investors will also come from there tomorrow: the publication of the results of the giant Nvidia, the main exponent of the rise of Artificial Intelligence (AI).

In Germany, it was announced today that GDP contracted by 0.1% in the second quarter, after the 0.2% expansion observed in the first three months of 2024. Thus, the largest economy on the Old Continent has recorded GDP declines in four of the last seven quarters and, despite having avoided a technical recession, it has not managed to chain two consecutive quarters of expansion in the last two years.

In the US, the consumer confidence index reached its highest level in six months in August, thus showing greater optimism about the performance of the economy and inflation in the American country, in contrast to less optimism about the labor market.

In Spain, Banco Santander announced before the market opened the start of a new share buyback programme for 1.525 billion euros and announced the board of directors’ intention to decide on the interim dividend on 24 September.

The entity thus gained 2.53% at the close, placing itself as the second highest value of the session behind IAG, which registered an increase of 3.43%. After these two companies, the biggest rises were those of Grifols (+2.05%), Bankinter (+1.31%9, Aena (+1.24%) and Amadeus (+1.23%).

On the decline side, the most notable were Solaria (-2.43%), Puig (-1.29%), Acciona Energía (-1.24%), Colonial (-1.14%) and Fluidra (-1.08%).

The Ibex 35 also stood out among the other major European stock market indices, which generally closed with gains: Milan rose by 0.52%; Frankfurt by 0.35%; and London by 0.21%. Only Paris lost 0.32% on the day.

On the other hand, the price of a barrel of Brent crude oil, the reference for the Old Continent, was quoted with a fall of 1.72%, standing at 80.03 dollars, while Texas registered a decrease of 1.81%, to 76.02 dollars.

On the currency market, the euro was quoted against the dollar at 1.1160 greenbacks, while on the debt market, the interest rate on 10-year bonds rose to 3.099%, while the risk premium remained at 80 basis points.