The Ibex 35 falls dragged by Iberdrola but holds the 9,000 integers
The IBEX 35 lost 0.36% in the middle of the session to 9,041.8 points and it rises 0.13% during the week. In negative – although the underlying trend continues to be upward – its monthly variation, with a decline of 1.16%.
Also downward turn for some of the squares of the Old Continent. The Dax cut 0.24% and the French Cac 40, 0.22%; the Italian FTSE Mib rose 0.17% and the London index, 0.06%. The Euro Stoxx 50 subtracts 0.22%.
The most bullish values of the Ibex 35 in the middle of the session are ArcelorMittal, which is up 2.59%; PharmaMar, 1.86% and Cellnex, 1.32%. On the bearish side, Iberdrola led the declines among the selective’s shares, with a cut of 2.01%. They are followed by Melia Hotels and IAG (Iberia), with 1.64% and 1.51%, respectively.
The president of the National Securities Market Commission (CNMV), Rodrigo Buenaventura, has indicated that “reputational erosion” that the imputation of executives, such as the president of Iberdrola, Ignacio Sánchez Galán, can mean for companies and even for the listed companies sector, and has insisted on the need to report the measures adopted accordingly by the company.
With regard to the financial sector in Spain, the credit rating agency S&P Global Ratings has improved the outlook from ‘negative’ to ‘stable’ and has maintained the ratings of six Spanish banks (Santander, Santander Consumer Finance, BBVA, BBVA Global Markets, Bankinter and Ibercaja), thanks to the evolution of the rate of vaccinations in Spain, and the signs of a strong rebound in the national economy, which suggests that the banking sector has been able to leave behind the worst scenarios.
Continuing with the banking sector, Bankinter completes the refinancing of the purchase of the Socimi Montepino from ING for an amount of 470 million euros, with a duration of five years and a ‘loan to value’ of 51%.
On the other hand, Spain’s net international investment position stood at -84.1% of GDP in March 2021 compared to -84.5% in the previous quarter.
For its part, the pharmaceutical industry based in Spain broke its export record in 2020, with 12,777 million euros, 5.6% higher than the previous year, which places the drug as the fourth most exported product in the country, according to ..
In the Continuous Market, the values that increased the most were Duro Felguera, 4.31%; Reno De Medici, 3.45% and Nicolas Correa, 3.24%. Codere leaves 3.52%; AmRest 3.4% and OHL 0.54%.
Regarding today’s macro agenda, the publication in Germany of the consumer confidence index, in your July read-ahead, that moderated to -0.3 points from -6.9 in June (figure revised from -7), improving the -4 expected by the market.
In the afternoon in the US, personal income and expenses for May will be announced, as well as the consumer price index for the same month, the PCE, the inflation indicator most followed by the Federal Reserve (Fed), from which a strong rebound is expected in the month analyzed.
In addition, and also to the US, the The University of Michigan will release the final June reading of its consumer sentiment index this afternoon, which is expected to show a slight advance over the level of the previous month.
The risk premium in Spain rises to 0.98% to 62.05 basis points, while the interest on the Spanish 10-year bond rises to 0.44%.
The euro appreciates against the dollar and is exchanged at 1.1942 ‘greenbacks’.
In the commodities market, oil prices are mixed. A barrel of Brent, the benchmark in Europe, is trading flat at $ 75.42 per barrel, while the US West Texas falls 0.14% to $ 73.09.