economy and politics

The Ibex 35 yields 0.12% and loses 9,200 points after the call for early elections

May 29. (EUROPE PRESS) –

The Ibex 35 has yielded a slight 0.12% in the session this Monday, marked by the regional and local elections that were held yesterday and by the announcement by Pedro Sánchez to call the general elections early for July 23.

In this way, the selective was placed at 9,180.1 integers, despite having retained the 9,271.1 points in the opening after an election day in which the PP has become the hegemonic party in town halls and CCAA.

After this result, the President of the Government, Pedro Sánchez, has announced his intention to dissolve the Cortes and call general elections for next July 23, which has led the Madrid selective to enter negative territory around 11:30 a.m. and that he has not abandoned the rest of the session.

It should be noted that an agreement in principle was reached in the United States this weekend on the debt ceiling, which may mean eliminating it until January 2025. Treasury Secretary Janet Yellen has urged its approval, although she has delayed the ‘default’ date from June 1 to 5.

In addition, it should be noted that the US and UK stock markets remain closed today for a holiday in both countries.

Regarding the references for the rest of the week, Spain’s advance inflation data for the month of May will be released tomorrow, while the eurozone data will be published on Wednesday, along with unemployment in Germany. Various manufacturing production data will also be released during the week and on Friday the United States will report its unemployment rate.

Among the values ​​that have fallen the most on the first day of the week were Banco Santander (-1.70%), Meliá (-1.44%), BBVA (-1.23%), ArcelorMittal (-0, 72%), IAG (-0.55%) and Unicaja Banco (-0.38%).

On the opposite side were Grifols (+1.41%), Solaria (+1.39%), Telefónica (+1.12%), Acciona Energías Renovables (+1.02%), Naturgy (+0, 92%) and Enagás (+0.85%).

Regarding the rest of the European stock markets, Frankfurt fell 0.20%, while Paris did so by 0.21% and Milan, 0.36%.

On the other hand, a barrel of Brent was trading at $76.59, 0.47% less, while West Texas Intermediate (WTI) was at $72.54, 0.18% less.

In the debt market, the yield on the Spanish bond with a 10-year maturity stood at 3.488%, while the risk premium against German bonds stood at 105.7 basis points.

In the currency market, the euro depreciated 0.08% against the dollar, reaching 1.0714 ‘green bills’ for each euro.

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