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The Ibex 35 tries to bounce off 9,300 to avoid its worst week in almost a year

Date: June 22, 2024 Time: 15:35:44

The Ibex 35, the Spanish stock market reference, rebounds timidly (+0.2%) this Friday from 9,300 points in an attempt to break the streak of five consecutive downward sessions that place it before its worst week since September 2022. The accumulated decrease exceeds 3.7% before today’s result. The rest of the European indices started with a mixed tone, with increases of 0.2% in the Cac 40 in Paris, falls of 0.1% in the Ftse 100 in London and the flat German Dax.

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“Once again, European equity indices closed lower yesterday, following investor assessment of the quarterly earnings season and the Bank of England’s (BoE) expected 25 basis point interest rate hike. Likewise, the global sentiment remained pessimistic after the rating downgrade of the US the day before by the Fitch agency”, points out Link Gestión in his daily commentary, in which important economic and business references such as unemployment in the US stand out. or the reaction to the results of two giants like Apple and Amazon to determine the weekly closing.

The biggest increases within the Ibex 35 were recorded by Meliá Hotels (+1.28%), IAG (+0.94%), Banco Sabadell (+0.87%) and Grifols (+0.86%), while On the opposite side, the most pronounced decreases were registered by Indra (-3.07%), Cellnex Telecom (-0.94%), Merlin Properties (-0.65%) and Colonial (-0.64%).

Specifically, Indra has informed the CNMV first thing in the morning that it has reached an agreement with Bain Capital Private Equity for the purchase of 9.5% of ITP Aero for an import of 175 million euros, which will be executed in the next weeks.

In other markets, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 0.13%, to 85.25 dollars, while Texas stood at 81.73 dollars, 0.22 % less.

Regarding currencies, the value of the euro against the dollar stood at 1.0949 ‘green bills’, while the Spanish risk premium was around 106.3 basis points, with the interest required on the 10-year bond at 3.658%, close to its 2023 highs. The 10-year bond in the US yields 4.2% and is close to its 2007 highs.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

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