The Ibex 35 deepens its decline and loses 7,500 points

The Ibex 35 deepens its decline and loses 7,500 points
The Ibex 35 deepens its decline and loses 7,500 points

The rest of the European stock markets have also closed the session in negative, with falls of 0.52% in London, 0.27% in Paris, 0.72% in Frankfurt and 1.16% in Milan. At the close of the European stock markets, the Nasdaq appreciated by 0.35% and the S&P 500 by 0.08%.

The selective ended the trading day at 7,445.7 points, with Sabadell (-6.47%), Grifols (-4.98%), Merlin (-3.3%), Bankinter (-3.26%) , Colonial (-2.85%) and Santander (-2.62%) at the head of the declines.

On the positive side, Acerinox (+2.63%), Solaria (+2.41%), Repsol (+2.38%), Cellnex (+2.35%) and Rovi (+2.07%) stood out. .

In the United States, consumer confidence has rebounded more than expected and has returned to figures for April 2022. Bankinter analysts point out that the market will give a negative reading, since “it demonstrates the strength of consumption and supports the tone ‘ hawkish’ from the Fed, showing that there is still room for action to control inflation”.

The governor of the Bank of Spain, Pablo Hernรกndez de Cos, anticipated last night that the agency plans to revise downwards its estimates of economic growth in 2023 and upwards the inflation forecasts for the years 2022, 2023 and 2024, in line with those made for the euro area.

Along the same lines, the president of BBVA, Carlos Torres, has predicted this Tuesday that there will be less economic growth this quarter and has anticipated that Spain will experience a “slight” recession, registering negative figures in the fourth quarter of 2022 and the first of 2023.

Regarding geopolitical tensions, the European Union has announced that it is working to stop the export of Russian coal to third countries within the framework of the new round of sanctions to respond to the Russian escalation in the Ukraine conflict after the announcement of partial mobilization population, nuclear threats and referendums in the Donetsk, Luhansk, Kherson and Zaporizhia regions.

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The pound rebounded this Tuesday after the governor of the Bank of England, Andrew Bailey, has issued an extraordinary statement in which he indicates that the authority he presides over “will not hesitate to change interest rates as much as necessary to return inflation to the objective of 2% sustainable in the medium term”.

After this message, the pound advanced positions until recovering 1.0784 dollars (+0.94%). Between Friday and Monday, the pound fell almost 8% in its cross against the dollar.

In Asian equities there was no clear trend, although Japan’s Nikkei recovered from a two-month low, with technology stocks leading gains, with bargain hunting following strong global selling after the Fed maintain its aggressive policy. The index has scored 0.53% to 26,571 points.

Mainland China’s Shanghai Composite rose 0.26% and the Shenzhen Component rose 0.314%. South Korea’s Kospi struggled to find its bearings, ultimately losing 0.62%. In Hong Kong, the Hang Seng Index lost 1.06%.

The World Bank has cut its full-year 2022 growth forecast for the East Asia and Pacific region to 3.2%, from its April forecast of 5%, according to its latest report published on Tuesday. “The growth slowdown is mostly due to China,” he said, adding that the organization also cut its 2022 forecast for the nation to 2.8% from 5%. The World Bank expects China to grow 4.5% in 2023.

At a corporate level, Indra announced last night that it had closed the list of independents that it would propose to the extraordinary shareholders’ meeting, which will be held on first call on October 28, with the proposal of Bernardo Josรฉ Villazรกn, independent director, among others, of Grupo Antolin.

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Villazรกn’s name joins the list made up of Virginia Arce, Olga San Jacinto, Coloma Armero, Axel Arendt and Belรฉn Amatriain, who will renew the board and equalize the number of independent directors with that of proprietary directors and executives.

This body will also be joined by Juan Moscoso, a new proprietary director at the proposal of the State Industrial Participation Company (SEPI), after it exceeded the 27% that gives it the right to a third representative in the body, as stated in the call sent to the National Securities Market Commission (CNMV).

Siemens Gamesa plans to fix problems with its main onshore wind turbine model in the next three months, according to its CEO, who has warned that 10-15 loss-making projects related to problem equipment will continue to have a negative impact until 2024.

On the other hand, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at a price of 86.38 dollars, with an increase of 2.76%, while Texas stood at 78, 68 dollars, after rising 2.56%.

The price of the euro against the dollar stood at 0.9624 ‘greenbacks’, while the Spanish risk premium stood at 120 basis points, with the interest required on the ten-year bond at 3.417%.

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