Stock Markets Live | Ibex Index Surpasses 11,300 for First Time Since June | Financial Markets

European stock markets are slightly higher on Tuesday, with all eyes on what will happen tomorrow, Wednesday, with Nvidia’s quarterly results, which could spark wild moves in stock markets around the world given the high exposure to big tech markets. Ibex is currently trading up around 0.3%, putting it above 11,300, a level not seen since June 10.

Uncertainty over a possible cut in Middle East oil supplies that pushed Brent above $81 a barrel yesterday appears to have subsided. After rising 2% on Monday, benchmark European crude prices are down 0.5% this morning, below $80.

Which values ​​are rising or falling the most?

Among those that are growing the most, the following stand out:

Santander: 3%. Before the market opened, the company announced that a share buyback worth 1.525 million euros would begin on Tuesday.

IAG: 2.9%, thanks to falling oil prices

Grifoli: 1.9%

In the opposite direction:

Logistics: -1.5%

Redeya: -1.2%

Axion Energy: -1.2%

What are the rest of the stock markets doing?

European stock markets posted gains of 0.6% in London’s Ftse, which closed yesterday for a holiday, and 0.2% in the Dax and EuroStoxx 50. The S&P 500 and Nasdaq ended lower yesterday, but the Dow Jones managed to hold on for a marginal gain of 0.16%, marking its 23rd record high of the year, the first since July 17 last year.

Chinese consumer stocks were in the spotlight after shares of PDD Holdings, owner of popular e-commerce site Temu, plunged 28.5% in Wall Street trading on Monday. A warning about slow sales from rival owner Shein was the latest disappointment for a sector where the country’s biggest consumer companies reported weaker-than-expected earnings.

Keys of the day

• In China, the economy showed some encouraging signs in the manufacturing sector, with industrial profits at the country’s major companies rising 4.1% year-on-year in July.
• Spain has released pension data for August. Social Security allocated a record amount of 12,828.7 million euros to pay the normal monthly salary of funded pensions, up 6.5% from the same month in 2023, the Ministry of Inclusion, Social Protection and Migration reported on Tuesday.
• Germany, for its part, has published its final GDP figures for the second quarter. According to the Federal Statistical Office (Destatis), the gross domestic product of the eurozone’s core economy contracted by 0.1% in the second quarter, after growing by 0.2% in the first three months of 2024. On an annualized basis, the economy grew by just 0.3%.

What do analysts say?

The think tank at Dutch bank ING is optimistic about Germany’s economic growth data. “We are not prepared to give up any optimism for the second half of the year,” it says, pointing to a higher growth in real wages, which could anticipate a recovery in consumption. However, they leave no room for doubt: “The German economy is stuck in stagnation,” they say.

The same analysts also highlight the Canadian government’s decision to impose 100% tariffs on electric vehicles from China. “The impact on Chinese automakers should be limited, as domestic brands are limited in their exports to Canada,” they comment. In any case, they say, “a new wave of trade protectionism is worrisome,” and highlight its impact on Chinese exporters, while noting that Monday’s announcement was short on details.

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STOCK EXCHANGE – CURRENCIES – DEBT – INTEREST RATES – RAW MATERIALS

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