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The Ibex is entrenched in the area of ​​9,600 points on the day of the manufacturing PMI

Date: June 20, 2024 Time: 12:51:18

The Ibex 35 starts August plunged into the most absolute volatility. The Spanish stock market reference is torn between a flat price and falls, although it retains 9,600 points, with which it remains in the zone of annual maximums, but it does not manage to exceed 9,700 points on the day that the PMI of the manufacturing industry will be published. some European countries and the United States. In this context, the Old Continent awakens without a defined trend. Milan rose 0.3%, London rose 0.08%, while Paris fell 0.01% and Frankfurt fell 0.2%.

On the other side of the Asian continent, this Tuesday the purchasing manager index (PMI, sector reference indicator) of the private digital newspaper ‘Caixin’ was published, which shows a reduction in manufacturing activity in China. Production has been weighed down by lower demand, going from 50.5 points in July to 49.2, while analysts expected the indicator to remain in the expansion zone, above 50.3 points.

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“We continue to keep an eye on China and on the battery of measures that the Government of the Asian giant is beginning to launch, with the aim of ensuring the country’s economic recovery, promoting consumption and investment and increasing demand for its products” , they need from Link Securities. In this regard, they point to European sectors such as automobiles or luxury, with a large presence in China, which could experience a boost in their activity, which would also be reflected in the stock market.

Back in Spain, the biggest declines come from Ferrovial (-0.9%), Sacyr (-0.7%) and Inditex (-0.6%), as well as the steel companies Acerinox (-0, 56%) and ArcelorMittal ( -0.59%). On the contrary, Meliá (+2.75%), Rovi (+1.37%), IAG (+0.65%) and Grifols (+0.9%) rose.

At the opening of the stock market, the price of a barrel of Brent quality oil, a reference for the Old Continent, fell 0.3%, to 85.17 dollars, while Texas stood at 81.56 dollars, a 0.29% less. In the currency market, the price of the euro against the dollar stands at 1.0993 ‘green bills’, while the Spanish risk premium is around 104.1 basis points, with the interest required on the 10-year bond at 3.503%. .

* 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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