MADRID, November 11 (EUROPE PRESS) –
The Ibex 35 index resumed its rise this Monday and mid-session maintained the 0.7% gain recorded at the opening of the stock market and continued its rise at 11,600 whole numbers, in such a way that it recovered some of the ground it had lost last time. a week after Donald Trump’s victory in the US presidential election became known.
On the macroeconomic front, China’s consumer price index (CPI) recorded a 0.3% year-on-year rise in October last year, down one-tenth from the previous month and the weakest price rise in four months.
Renta 4 analysts note a 1.5% fall in the Chinese stock market due to “disappointment” caused by the latest economic stimulus approved by China. The National People’s Congress committee announced 10 trillion yuan ($1.4 trillion or 1.3 trillion euros) to refinance local debt, an “amount lower than expected” although the Chinese government has already said it is working on additional fiscal stimulus for 2025.
“These measures, to be truly effective, must be aimed at restoring consumer confidence and private consumption, and seem especially necessary in the wake of Trump’s “Republican wave” (proposing 60% tariffs on China), which “they question will be able to whether it can maintain external growth,” analysts add.
Experts are also raising questions about the possibility of early elections in Germany after the country’s tripartite coalition collapsed and Chancellor Olaf Scholz showed readiness to call a vote of confidence before Christmas.
Overall for the week, investors’ attention will be focused on the October consumer price index and consumption data in the US, while in Europe the second reading of October inflation from Germany, Spain and France, GDP data from the eurozone and the US stand out. Kingdoms and ZEW survey in Germany and the eurozone, among other data.
In this context, the Ibex 35 index traded at 11,638.9 whole numbers, supported by the majority of securities trading in the green. The most noticeable growth was observed in Rovi (+2.09%), Acciona (+1.78%), Santander (+1.76%), Sacyr (+1.62%), Cellnex (+1.51%) and Acciona Energia (+1.40%). Only Acerinox (-0.85%), Grifols (-0.81%), Telefónica (-0.40%), ArcelorMittal (-0.33%), Inditex (-0.31%), Merlin were in the red (-0.31%). -0.10%) and Colonial (-0.09%).
Major European stock markets traded mid-range higher, with Frankfurt up 1.25%; Milan, 1.24%; Paris, 1.14%; and London – 0.78%.
On the other hand, the price of a barrel of Brent crude, the benchmark for the Old Continent, was $72.84, down 1.39%, and in Texas fell 1.63% to $69.23.
In the foreign exchange market, the price of the euro against the dollar was US$1.0669, while in the debt market the required interest rate on the 10-year note rose to 3.072% and the risk premium was 73 basis points.