Aug. 23 () –
The Ibex 35 has fallen to 8,226.3 points in the session on Tuesday, after registering a drop of 0.71%, on a day marked by the publication of macroeconomic data and in which investors are still waiting for the annual meeting of central bankers in Jackson Hole, which starts on Thursday.
The largest increases in the Spanish selective were presented by Acerinox (+3.82%), Repsol (+3.63%), Arcelormittal (+3.15%), Banco Sabadell (+1.46%) and BBVA (+0 .76%).
On the contrary, in the negative field, Cellnex (-3.59%), Grifols (-3.15%), Rovi (-2.79%), Fluidra (-2.77%) and Acciona (-2) stood out. .09%).
This Tuesday the Composite Purchasing Managers’ Indices (PMI) have been published. The PMI for the euro zone has shown that the deterioration in private sector activity in the region has intensified in August, when the index stood at 49.2 points from 49.9 in July, which is its worst reading in 18 months, which suggests a contraction in growth in the third quarter.
Likewise, the economies of Germany and France, the two main engines of the eurozone, have registered a contraction in activity in the month of August, according to their PMIs, which reflect the worsening of the outlook and the lower propensity for household consumption as a result of uncertainty and inflationary pressures.
The price of natural gas continued to rise and stood at 276 euros per megawatt, after it skyrocketed yesterday due to Russia’s announcement to close the Nord Stream gas pipeline for three days for “maintenance” from August 31.
In addition to the difficulties related to gas supply, this Monday the Bundesbank, the central bank of Germany, warned of the significant increase in risks that point to a contraction in GDP during the second half of the year, when inflationary pressures may increase to push the CPI to around 10% this fall.
Renta 4 analysts point out that, in this environment, the increase in energy prices in Europe “is causing inflation expectations to skyrocket”, which, in turn, is causing uncertainty and the expectation of a “more aggressive” course in the monetary policy of the European Central Bank (ECB).
In this scenario, the main markets of the Old Continent have closed the day with a mixed behavior. The London Ftse 100 fell 0.61%, the Paris Cac 40 fell 0.26% and the Frankfurt Dax fell 0.26%, while the Milan Ftse Mib rose 0.97%.
The price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 99.61 dollars, with a rise of 3.62%, while the Texas traded at 93.62 dollars, after also revaluing 3, 59%, given the expectation of a possible cut in production by OPEC.
In the foreign exchange market, the euro did not recover and remained below parity against the dollar when trading at 0.9986 ‘greenbacks’, the lowest in 20 years, while the risk premium stood at 119 basis points and the return on the 10-year Spanish bond exceeded 2.495%.
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