The Ibex 35 turns around and loses 8,100 points after falling 0.1%

Sep. 14 () –

The Ibex 35 has yielded 0.1% in the session this Wednesday, in which the European Commission has presented the measures to mitigate the effect of the energy crisis, so that it has not managed to retain the 8,100 points that it won in the half session.

The selective closed the trading day at 8,055.6 points, with Arcelormittal (-4.16%), Fluidra (-3.8%), Colonial (-3.04%), Acerinox (-2.8%) , Grifols (-2.64%), Naturgy (-2.13%) and Endesa (-2.05%) at the head of the setbacks.

On the positive side, Inditex has led the rises, with a rise of 3.78% of its shares, after presenting a net profit of 1,794 million euros during the first half of its fiscal year 2022-2023 (between February 1 and July 31), which represents an increase of 41% compared to the same period a year earlier and an all-time high.

It was followed by Indra (+2.73%), Bankinter (+1.87%), Amadeus (+1.21%), PharmaMar (+1.2%) and Acciona (+1.19%).

The European Commission has proposed this Wednesday that the rate on extraordinary profits of fossil fuel companies be set at at least 33%, in addition to asking Member States to reduce their electricity demand by 10% –and 5% of the consumption at peak hours– and establish a limit of 180 euros/MWh for the price of inframarginal technologies –such as renewables or nuclear–.

Likewise, the European Parliament has supported the revision of the objectives to reduce energy consumption in Europe and to increase the commitment to renewable energies.

The president of the European Commission, Ursula von der Leyen, estimated this Wednesday that the measures to limit the extraordinary profits of the inframarginal electricity producing companies, from renewable or nuclear, and the solidarity rate for fossil fuel companies will raise 140,000 million euros in the EU.

As for macro data, it has been known that the industrial production of the euro zone contracted by 2.3% in the month of July, compared to the expansion of 1.1% in the previous month, its first negative figure since March.

On the other hand, inflation in the United Kingdom fell two tenths in August, to 9.9%, which represents a drop of two tenths from the figure registered in July, which was the highest increase in prices registered in the country since 1982 .

In Spain, the Funcas Panel has maintained the growth estimate for this year at 4.2%, but has cut the forecast for 2023 six tenths to 1.9% due to the worsening of the economy in the second half of this exercise.

The rest of the European stock markets have closed with falls of 1.47% in London, 0.37% in Paris and 1.22% in Frankfurt, while Milan has advanced 0.49%.

The price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 95.1 dollars, with an increase of 2.07%, while Texas stood at 89.49 dollars, after rising 2 ,5%.

Finally, the price of the euro against the dollar stood at 0.9993 ‘greenbacks’, while the risk premium reached 113 basis points and the return on the 10-year Spanish bond stood at 2.842%.