The Ibex 35 rises 1% and recovers 11,800 points driven by banks and large values

MADRID 14 Oct. () –

The Ibex 35 closed this Monday with an increase of 1.12%, reaching 11,850.9 points -recovering highs from two weeks ago-, thanks to the boost from banks and other large stocks, such as Iberdrola and Inditex.

The Spanish selective has started the session with a progressive upward trend that has only been interrupted by the closing of the negotiation itself, while the indicator once again looks at the highs reached at the end of September above 11,900 integers.

With this Monday’s macroeconomic agenda practically empty, it is worth noting that investors’ attention is focused this week on the monetary policy meeting that the European Central Bank (ECB) will hold on Thursday; predictably, it will undertake a new reduction in interest rates.

In the business field, the technology multinational Izertis has informed BME Growth that it obtained an attributable net profit of 1.32 million euros in the first half of 2024, which represents a decrease of 36% compared to the profits recorded in the same period of the previous year.

For its part, EV Motors, the parent company of the Ebro automobile company and partner of the Chinese manufacturer Chery in Spain, debuted on the stock market this Monday with a rise of 20.2%, leaving the share at 8.27 euros. The market capitalization stood at 395.2 million euros.

Furthermore, the water and energy group Cox, after confirming last week its intention to list on the Spanish Stock Exchanges through a public offering of shares (IPO) aimed at qualified investors, has advanced this Monday to have received “binding commitments from reference investors”.

Given this situation, CaixaBank has been the main bullish value (+2.5%), ahead of Endesa (+2.06%), Mapfre (+1.95%), Aena (+1.66%), Iberdrola (+1.58%), Bankinter (+1.57%), Inditex (+1.54%) and Banco Sabadell (+1.53%).

On the opposite side, Solaria (-3.39%), Puig Brands (-1.73%), Merlin (-0.81%), Repsol (-0.71%), Acciona Energía (-0. 59%) and Grifols (-0.58%).

In the rest of the main European stock markets, the positive evolution has been the common denominator: Paris has added 0.32%; London 0.47%; Frankfurt 0.69% and Milan 1.09%.

At closing time, a barrel of Brent reached $77.22, 2.32% less, while West Texas Intermediate (WTI) fell 2.47%, to $73.7.

In line with this, this Monday it was learned that the growth in global demand for crude oil in 2024 and 2025 will be less vigorous than expected by the Organization of the Petroleum Exporting Countries (OPEC), which has revised downwards for the third month consecutively its forecast on the evolution of global crude oil consumption.

In the debt market, the yield on the Spanish bond with a 10-year maturity closed at 3.007%, with little variation compared to Friday and with the risk premium at 73.5 points.

Regarding currencies, the euro depreciated 0.3% against the dollar, reaching an exchange rate of 1.0906 ‘greenbacks’ for each unit of the community currency.

For its part, the troy ounce of gold fell by 0.38%, to $2,646, while bitcoin soared by 5% and stood at around $66,000.