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The Ibex 35 maintains the brake and defends 8,800 with the focus on China

Date: June 5, 2023 Time: 03:29:50

The Ibex 35 follows the trend of Monday and trades with a slight fall of 0.1% points after the opening. The selective fights to stay at 8,800 points on a day in which Wall Street returns to activity after the holiday for Martin Luther King Day. This Tuesday, the GDP data for China was released, whose growth moderated to 3% in 2022, compared to the 8.1% registered in 2021. The measures to curb the wave of infections have weighed down the growth of the Asian giant, which registers its second lowest rate in 46 years, only behind the 2.2% recorded in 2020.

It has also been published that Chinese industrial production slowed down in December, but less than expected, while consumption fell but moderately, according to Renta4 analysts, who see it as foreseeable that “better data will come from now on, supported by the recent easing of policies related to the coronavirus”.

In Germany, the year-on-year inflation rate stood at 8.6% last December, the lowest since August 2022, after the 10% registered in November. Although the figure is high in contrast to the 3.1% of 2021, it represents a brake on its growth. “Until the meetings of the monetary policy committees of the main Western central banks take over in February, in the next two weeks, it will be the business results that monopolize the attention of investors,” they specify from Link Securities.

The main markets have opened mixed and with slight movements, pending the return to listing on the New York Stock Exchange, our futures point to a downward start to the session. Thus, London and Paris fell, 0.07% and 0.05%, respectively, while Frankfurt rose 0.08%; and Milan, 0.22%. Back in Spain, Unicaja Banco rose 1.23% and Acciona Energía advanced 1.16%. Also noteworthy are BBVA (+0.78%), Banco Santander (+0.61%) Repsol (+0.4%) and Telefónica (+0.11%). On the side of falls is Grifols, which lost 1.08%, followed by Fluidra (-0.35%) and Bankinter (-0.34%).

In other markets, the price of a barrel of Brent oil, a reference for the Old Continent, stood at a price of 84 dollars, with a rise of 0.13%, while Texas stood at 79 dollars, with a fall of 0.76 % Finally, the price of the euro against the dollar stood at 1.0834 ‘greenbacks’, while the Spanish risk premium stood at 96 basis points, with the interest required on the ten-year bond at 3.178%.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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