One more session of declines for the Spanish stock market, but nothing compared to what was feared in the most bearish crosses of the session. The absence of new bullish catalysts imposed sales this Thursday and the Ibex 35 lost 0.46% to 8,966.2 points. In the most bearish crosses of the day, the decreases exceeded 2% and endangered continuity above 8,800 integers.
The index managed to avoid its lowest moments thanks to the upward turn of some energy companies and a couple of banks. Although the selective did not manage to amend the course until it turned higher, as Wall Street and other European stock markets did, it was enough to cushion the punishment of investors.
At the head of the Ibex 35 revaluation table, Solaria it rose 1.9% to reach 15 euros per share. An energetic rebound after being placed the day before between the red lanterns of the Madrid parquet. One more blow into the deep punishment of the last days for the depletion of investment appetite towards renewables.
One after another, companies in the sector took over the sparsely populated friendly area of the revaluation table. Endesa it rose 1.6% the day it was known that Alicia Koplowitz entered its capital. Electric Network (+ 0.7%) e Iberdrola (+ 0.4%) were as follows.
Advances in CaixaBank (+ 0.07%) and Sabadell Bank (+ 0.03%) remained at the minimum, while PharmaMar added 0.2% to its price. Meanwhile, Acciona achieved a flat close at 131.6 euros per share.
One of the values that helped cushion falls early on was Telephone, although at the close it came with falls of 0.5% that led its graph to 3,918 euros. The company was losing in its attempt to recover the 4 euros after having realized a net profit of 886 million euros in the first quarter, more than double that in the same period last year, and has also managed to reduce its financial debt.
Values like ACS (-2.5%), which at the end posted a profit of 195 million euros in the first quarter of the year, Meliá Hotels (-1.9%) and Repsol (-1.6%). The oil company thus fitted the announcement of the purchase of 40% of a US company of photovoltaic projects.
In the midst of these comings and goings, investors were still very aware of any news about the direction central banks can take to avoid overheating the economy. A factor that has become more relevant after knowing yesterday that inflation in the US has reached rates of 4.2%, well above the forecasts of economists.
Meanwhile, in the secondary debt market, the yield on overran bonds continued to rebound while its price continued to be lowered. Ten-year Spanish papers had rates of 0.58%, which translated into a risk premium of 72 basis points.