Ibex 35 closes in a tie despite banks’ sprint

Ibex 35 closes in a tie despite banks’ sprintMarta Fernandez Jara – Europa Press – Archive

Ibex 35 closed this Thursday with a slight increase of 0.09%, until we reach 11,066.3 pointsdespite the rise in bank values ​​and the fall Iberdrola and Repsol – the prices of which were affected by the “no dividend” effect – on the day in which markets had no link to Wall Street When is Independence Day celebrated in the USA?

The Spanish team spent the day in indecision: in the morning he fell and laid level 11,000 integers to finally go back and move on to timid attacks in the afternoon.

In a sparse “macroeconomic” agenda on Thursday, it emerged that only one member of the Governing Council of the European Central Bank (ECB) opposed the decision lower interest rates at the last meeting of the entity, although during the discussions that took place there were several directors who expressed doubts about the ongoing process of deflation in order to achieve Target 2% by 2025 and that the rate cuts in June were consistent with the data-driven principle, according to the minutes of the organization’s last meeting.

The summary of the ECB’s decision-making body meeting on June 4 and 5 confirms the existence of a dissident position within the Governing Council when it came to cutting interest rates, a decision that was ultimately taken, but suggests a much more intense debate on the issue and the future path to be taken.

For our part, it is worth noting that yesterday it became known (with the European market already closed) that members Federal Open Market Committee (FOMC) According to the minutes of the September 12 meeting, members of the US Federal Reserve were divided on how long to keep interest rates in the current target range of 5.25% to 5.5%.

Returning to the Old Continent, it was announced this Thursday that new orders in the German manufacturing sector fell by 1.6% in May compared to the previous month, when they fell by 0.6%, thus accumulating five consecutive monthly declines, according to data from the Federal Statistical Office (Destatis) reported this Thursday.

Investors will also be paying attention to the political situation, with the UK election taking place today and France next Sunday.

On the other hand, the European Union is preparing to introduce, starting this Thursday, July 4, provisional duties of up to 38% on battery electric vehicles imported from ChinaThe move comes after weeks of fruitless talks between Brussels and Beijing over a solution to the subsidies Chinese producers receive, which Europeans see as an “unfair” advantage over their brands.

Likewise, Banco Sabadell President Josep Oliu called on BBVA to publish “clear, transparent and complete” information on all elements that could affect the price proposed in the public acquisition offer (OPA) put forward by the presiding entity.

On the other hand, Grifols has appointed Rahul Srinivasan, a former Bank of America executive, as its new CFO, replacing Alfredo Arroyo, who has decided to step down after 17 years with the company, the company said in a statement.

In this context reduction of electoral Iberdrola and Repsol led the way, losing 3.62% and 1.94% respectively as they were hit by the ex-dividend effect, while Aena rounded out the list of decliners with a 0.1% drop.

From a profit perspectiveCaixaBank (+2.56%), Bankinter (+2.56%), Grifols (+2.49%), Banco Santander (+2%), Enagás (+1.94%) and Acciona (+1.64%). Other banks, such as Unicaja and Banco Sabadell, added more than 1% during the session.

Progress was the common denominator across Europe, with Frankfurt up 0.41%; Milan 0.77%; Paris 0.83% and London 0.86%.

In that raw materials marketAt the close of trading in Europe, a barrel of Brent crude rose 0.23% to $87.54, while a barrel of West Texas Intermediate (WTI) crude oil reached $83.97, up 0.11%.

In that debt marketThe yield on Spanish 10-year bonds closed at 3.392% after adding two basis points, while the risk premium (differential with German bunds) remained at 78.8 basis points.

Regarding foreign currencyThe euro strengthened 0.25% against the dollar to trade at $1.0812 per unit of the community currency.

Likewise, gold stood out, rising to around $2,360, a level from two weeks ago. Bitcoin On Thursday afternoon, it fell 2.8% to $57,800, its lowest since early May.