The Ibex 35 closes with a fall of 0.29% but maintains 9,500 points after the general elections

MADRID, 24 Jul. (EUROPA PRESS) -

The Ibex 35 has closed this Monday with a fall of 0.29%, to stand at 9,543.5 points, after the celebration on the eve of the general elections in Spain -whose results could lead to a blockage in the formation of the Government due to the equalization of forces between the left and the right-, in a week that will be marked by the monetary policy meetings of the Federal Reserve (Fed) and the European Central Bank (ECB).

The session started with strong falls that endangered the 9,400 point level, however, by mid-morning the selective had already moderated those falls until it stabilized around 9,500 points, a level that it has managed to maintain with a margin despite the negative close.

This Monday it became known that economic activity in the euro area continued to deteriorate in July as a result of worsening demand, particularly in the manufacturing sector, as reflected in advance data from the Purchasing Managers Composite Index (PMI), which has fallen to 48.9 points from June's 49.9, marking its lowest level in eight months.

For its part, activity in the United States, although it continued to expand in the same month with 52 points, has worsened more than expected since, despite the fact that manufacturing has improved much more than expected (it remains in a recessive zone), services have fallen more than anticipated (it remains in an expansive zone).

In Spain, industrial prices decreased by 8.1% in June in relation to the same month of 2022, a rate almost 1.5 points lower than that registered in May, due to cheaper gas, as reported on Monday by the National Statistics Institute (INE).

In addition to politics, central bank meetings and macroeconomic data, the markets will revolve this week around the publication of the business results of Almirall, Applus, Gestamp, Endesa, Banco Santander, BBVA, CaixaBank and Aena, among other companies.

In this context, Repsol signed the best result of the session on Monday, encouraged by the increase in the price of crude oil, with a rise of 2.74%; followed by Fluidra (2.3%); ArcelorMittal (1.51%) and Telefónica (1.37%), while Naturgy posted a slight rise of 0.07% after boosting its profit by 88% in the first half.

In the opposite sign, Endesa has achieved the worst result with a decrease of 2.75%; followed by Indra (-2.05%); Rovi Laboratories (-1.43%); Aena (-1.42%); IAG (-1.36%); Mapfre (-1.35%); Bankinter (-1.23%) and Mélia Hotels (-1.09%).

With respect to the rest of the big European squares, Paris has opted for decreases, like Madrid, by subtracting 0.07%, while Frankfurt has added 0.08%; Milan 0.18% and London 0.19%.

In the raw materials market, a barrel of Brent returned to levels of mid-April at 82.85 dollars, 2.18% more, while West Texas Intermediate appreciated 2.48%, up to 78.98 dollars.

In the middle of the post-election day and awaiting the ECB's decision on interest rates (now they are at 4%), the interest on the Spanish bond with a 10-year maturity has closed at 3.426% after subtracting three basic points, with the risk premium (the differential with the German bond) at 101.3 points.

In the foreign exchange market, the euro depreciated 0.44% at the close of the session against the dollar, until registering an exchange rate of 1.1076 'green tickets' for each euro.