The Ibex 35 manages to moderate its weekly decline to 1.9%, after recovering the level of 7,900 integers today


The Ibex 35 settled at 7,961.4 integers after falling 1.9% in the week, although thanks to the pull of 1.81% on Friday it mitigated the fall it had experienced the last few days, when it had come back to the edge of the whole 7,800.

Thus, with the advance of 1.81% observed today, it breaks a sequence of five consecutive days in negative and is again at the level of 7,900 points.

The week on the Ibex 35 was marked by the announcement of the new temporary tax on large financial institutions and large energy companies, the publication of CPI data for the month of June in the United States and the start of the earnings season, as well as the GDP data for the second quarter in China and the parity in the cross of the eurodollar.

The headline CPI rate in the United States came in at 9.1% in June, half a percentage point above May’s price rise and its highest level since November 1981, while that the core CPI was 5.9%.

This situation does nothing more than add pressure on the Federal Reserve (Fed) to raise interest rates and the market is already pricing in a 75 basis point hike at the central bank meeting. expected next week, although it has come to speculate that the increase could reach 100 basis points.

In addition, the President of the Government, Pedro Sánchez, announced on Tuesday, during the State of the Nation debate, new temporary taxes for banks and energy companies, which led to a stock market crash of listed financial entities: they lost more than 5 billion euros in capitalization during the July 12 session.

Among today’s data, China’s second quarter GDP release stands out, showing an economic contraction of 2.6% from the previous three months, when it rose 1.4%. It is the second-worst growth figure for the world’s second-largest economy, just behind the 9.8% contraction in the first quarter of 2020.

Additionally, yesterday kicked off the U.S. trading earnings season, which began with the release of the accounts of JPMorgan Chase and Morgan Stanley, which showed lower second-quarter profits compared to the same period last year. .

Today, the presentations continued with that of Citigroup, which posted an attributed net profit of 4,547 million dollars (4,538 million euros) in the second quarter of the year, down 26.6% ; BlackRock, which recorded an attributed net profit of $1,077 million (€1,075 million), equivalent to a decline of 21.8%, and Wells Fargo, which recorded an attributed net profit of 2,839 million dollars (2,834 million euros), i.e. 48% less than in the second quarter of 2021.

During today’s session, most Ibex 35 stocks closed positive, except for Telefónica (-1.50%), Siemens Gamesa (-0.53%), Aena (-0 .24%) and Red Electrica (-0.06%). The strongest increases were made by Ferrovial (+3.73%), Acciona Energía (+3.57%), Inditex (+3.50%), Grifols (+3.50%), Sacyr (+3, 23%), Rovi (+3.15%) and PharmaMar (+3.07%).

The rest of the European stock exchanges also closed higher, by 1.69% in London, 2.04% in Paris, 2.76% in Frankfurt and 1.84% in Milan, which is recovering from the drop of more than 3 % recorded yesterday, when Mario Draghi’s government was overthrown.

El ex-banquero central presented his dimisión al presidente de la República, Sergio Mattarella, que rechazó la propuesta a cambio de que explicase los motivos de su renuncia ante el Parlamento italiano el próximo miércoles, dando tiempo a buscar soluciones a la nueva política abierta en el crisis Country.

On the other hand, the price of a barrel of Brent-grade oil, a reference for the Old Continent, once again exceeded 100 dollars, trading at 101.48 dollars, up 2.39%, while Texas was placed at $98.10, down 2.32%.

On the foreign exchange market, the euro regained ground against the dollar, trading against 1.0090 “greenback”, although it is very close to parity.

In the debt market, the Spanish risk premium was around 118 basis points at the close of trading, with interest required on the ten-year bond at 2.273%.

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