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The Ibex 35 intensifies the declines to 1% at midday and puts 9,900 points at risk

MADRID, 7 Feb.

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The Ibex 35 intensifies the declines to 1% at midday and puts 9,900 points at risk


The Ibex 35 intensified at midday this Wednesday the downward path of the opening at 1% and put the level of 9,900 points at risk - specifically, it stood at 9,901.1 points -, weighed down by BBVA and Banco Sabadell, which led the falls of the selective with declines of more than 2%.

The main indicator of the Spanish market was conditioned downward by its financial entities after the member of the European Central Bank (ECB), Isabel Schnabel, pointed out in an interview with the newspaper 'Financial Times' that the organization must be patient and not rush to adjust its monetary policy when facing the "last mile" of the ongoing disinflationary process.

Likewise, investors will look for clues this day about monetary policy in the statements of several members of the Federal Open Market Committee (FOMC) of the United States Federal Reserve (Fed).

Investors will also remain attentive to the business results of several companies, including Disney, Alibaba and Uber.

Under the macroeconomic umbrella, this Wednesday it was known that the General Industrial Production Index (IPI) of Spain fell an average of 0.8% in 2023, thus breaking the streak of positive rates of the last two years, as reported by this Wednesday the National Institute of Statistics (INE).

For its part, German industrial production fell 1.6% in December at a monthly rate, four times more than what the market expected, while this afternoon the United States trade balance for December will be known.

Given this situation, in the middle section of the negotiation the biggest declines within the Ibex 35 were recorded by Banco Sabadell (-2.8%), BBVA (-2.46%), Acerinox (-2.37%), Naturgy (-2%), Aena (-1.86%), ArcelorMittal (-1.5%), Caixabank (-1.47%), Banco Santander (-1.36%) and Iberdrola (-1.34% ).

On the other hand, only ten stocks managed to advance at midday with Grifols (0.7%) leading, followed by Rovi (0.69%), Unicaja (0.64%) and Amadeus (0.62%).

The European stock markets also registered corrections at midday, although more moderately than the Spanish market: Milan was down 0.17%; Paris 0.18%; Frankfurt 0.4% and London 0.5%.

At the same time, the price of a barrel of Brent quality oil, a reference for the Old Continent, increased by 0.5%, to 78.98 dollars, while Texas stood at 73.71 dollars, 0.5%. .55% more.

In the foreign exchange market, the price of the euro advanced 0.1% against the dollar, to 1.0765 'greenbacks', while in the debt market the interest required on the 10-year Spanish bond climbed slightly to 3.206%, with the risk premium (the differential with the German bond) at 91.5 points.