Ibex tests lift and shows results
The wave of results is again playing a growing role in Ibex, which is looking to consolidate its upward trend. Abroad, a truce remains in the oil sector, and the latest messages from the Federal Reserve once again sow doubts about cutting rates.
Sluggish futures on Wall Street and especially the correction in Asian stocks (-1.6% in the Nikkei index) cooled sentiment today. A mini-truce in the publication of important macro data distracts attention from the avalanche business resultsbut without leaving aside, again, monetary news.
Latest messages published Federal Reserve The US includes some statements made by Neel Kashkari, the president of the Minneapolis Fed, in which he clearly warned about the possibility of not cutting rates in 2024. Following the release of US employment data last Friday, markets revived hopes of two Fed rate cuts before the end of the year.
Doubts about the Fed’s road map are resurfacing in markets, ending a recent retreat debt interest. The required yield on US 10-year bonds is approaching the 4.50% threshold. In Europe, the interest rate on German bonds is around 2.45%, while Spanish 10-year bonds are trading at around 3.25%.
Capricorn 35
Spanish stock market receives referrals from abroad while riding a wave of local business results. Ibex is cooling off yesterday’s bullish momentum when it jumped 1.50% and is content to consolidate its recent rise above the 11,000-point barrier.
BBVA and Sabadell They once again monopolized investors’ attention after learning of a letter that could spell the end of their merger attempt. BBVA told Sabadell it had “no scope” to improve its offer, dispelling expectations of a possible increase in its offer. Sabadell already broke its bullish streak yesterday with a small final decline of 0.88%, while BBVA achieved a recovery of 3.61%.
Ibex weighing companies such as Endesa and Amadeus are subject to the market’s verdict on results published prior to today’s open. The electricity company cut its profits by 50% due to falling electricity prices and an emergency tax on the sector. Amadeusfor its part, reported a 19.6% increase in its profit, with double-digit growth across all its divisions.
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