Ibex recovers 12,000 points despite banks

A mixed sign among the world’s major indices on a day marked by corporate results in Europe, which currently raise many doubts, warning investors about the global economic situation.

However, The Ibex 35 closed the day up 0.59%, standing out from its peers.having managed to overcome Threshold 12,000 pointsexceeding the highs of the last 15 years, despite the collapse of banks.

Tomorrow there will be a new meeting of the ECBin which a new rate cut of 25 basis points is expectedalthough the main doubt lies in the knowledge of the next movements of the organization chaired by Christine Lagarde. The region’s economic weakness, especially in the case of Germany, falling inflation, poor corporate results and employment data that may be showing signs of weakness could provide sufficient arguments for a more aggressive rate-cut program than expected. This will lead to a fall in the interest margin of banking institutions, which will fall significantly during the day, which in the case Santander and BBVA They are exacerbated by the weakness of emerging currencies.

Another company that continues to suffer lately is Poochburdened in this case by the poor performance of luxury sector companies. On the other hand, among the companies that stand out the most on the rise per day, we find Telephonewhich is growing thanks to a favorable decision in Germany, while companies such as Inditex and IAG continue the positive trend of recent days. At the industry level we find construction companies with ACS, Ferrovial and Sakir among the best values ​​of the day.

In Europe the main news was ASML stock collapsewhich posted orders that were lower than expected, raising concerns about sales prospects next year, negatively affecting chip companies. Another one of the great European companies, LVMHis also undergoing a strong correction as it reports earnings significantly below estimates, mainly due to falling consumer demand in China and high interest rates around the world.

IN Wall Street Indices are trading mixed, with technology companies at least winning back some of what they lost during yesterday’s session. In this case, good reception from financial institutions, which generally delivered historical results thanks to interest margins, investment banking and market volatility in general, which led to higher fees.

IN other marketsThe dollar is trading higher as the market reacts to Donald Trump’s latest remarks on his upcoming trade policy. The proposed tariffs, if they win the race for the White House, would stifle the flow of currency abroad and could raise inflation and interest rates. This movement of the US currency has not limited the rise of gold, which in this case is again breaking through its all-time highs due to doubts caused by the elections. On the other hand, oil is correcting again, quoting Brent at $73 per barrel due to the lack of reaction in the news about a possible Israeli response to Iran’s attacks.

Tomorrow, in addition to the ECB meeting, New macroeconomic data will be published in the USA related to retail sales, which will provide new insights into household spending across the country, as well as jobless claims, which could rise after the storms of recent weeks.

Manuel Pinto, analyst