The Ibex 35 index fell 0.1% at the open but held at 11,200 points.
He Capricorn 35 started this Monday’s session with a slight decline of 0.1%, which lifted the benchmark to 11,266 after last week’s 3% rebound following US Federal Reserve President Jerome Powell’s announcement at the Jackson Hole conclave of his intention to cut official interest rates in September.
It is this new trading week that will depend on how investors read it. Powell’s Jackson Hole Speech and the publication of various macro data. In particular, preliminary data on the consumer price index in the eurozone for August and data on US (US) GDP for the second quarter will be known, as well as the personal consumption price index – an indicator closely monitored by the Federal Reserve.
Investors will be watching the Ifo business confidence index in Germany today, Monday, as well as some notable data from Europe.
In Spain, the National Statistics Institute (INE) reported on Monday that Industrial prices fell by 1.4% in July last year compared with the same month in 2023, compared with the 3.2% decline they experienced in June, thus creating a chain of 17 months of negative rates, albeit increasingly moderate.
At the first stages of the meeting this Monday, at 9:05, biggest growth in Ibex 35 They were joined by Repsol (+0.99%), ArcelorMittal (+0.60%), as well as Cellnex and Amadeus, whose shares rose by about 0.5%.
On the other hand, ACS shares stood out against the backdrop of the decline, falling by 2.3% at the opening after it became known on Friday, when the market had already closed, that the company was left without a concession for a highway in the North American state of Texas. After OKS, IAG (-0.8%) and Grifols (-0.7%) also stood out.
Major European stock markets opened mixed on Monday. While Frankfurt lost almost 0.3%, Paris and Milan opened slightly higher.
At the opening of the stock market, the price of a barrel of Brent crude, the benchmark for the Old Continent, was trading at $78.89, up 0.9%, while the price of a barrel of Brent crude, the benchmark for the Old Continent, was trading at $78.89, up 0.9%, while the price of a barrel of Brent crude rose 1% to $75.61.
On the foreign exchange market, the euro was trading at $1.1181 against the dollar, while on the debt market, the 10-year bond rate was down to 3.014%.