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The Ibex rises 0.6% at midday and erases almost all the losses of the week by recovering 9,000

MADRID, 27 Oct.

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The Ibex rises 0.6% at midday and erases almost all the losses of the week by recovering 9,000


The Ibex 35 maintained the good tone of the opening at midday this Friday and rose 0.6%, which allowed it to recover the level of 9,000 points - specifically, it stood at 9,015.8 integers after almost an entire week in which it has traded below that level -, in a day marked by the pause in the ECB's rate increases the day before, the constant uncertainty surrounding the Palestinian-Israeli conflict and the continued digestion of business results.

The main indicator of the Spanish market thus managed to provisionally erase almost all the losses of the week - it has fallen below 8,900 points - by limiting them to 0.15% compared to last Friday's close.

Before the start of the trading day, CaixaBank informed the National Securities Market Commission (CNMV) that it closed the first nine months of the year with an attributed net profit of 3,659 million euros, 48.2% more than in the previous year. same period of 2022, when it earned 2,469 million.

The airline holding company IAG, for its part, obtained a profit after taxes of 2,151 million euros, which represents almost 13 times the profits it recorded in the same period of the previous year.

Mapfre also reported early to the CNMV that it closed the first nine months of 2023 with a net profit of 470.6 million euros, 3.6% less compared to the same period last year, as a result of an extraordinary impact due to the deterioration of the United States business.

In the macro field, at the beginning of this day the progress of the Gross Domestic Product (GDP) in Spain for the third quarter was announced, a period in which the Spanish economy grew by 0.3%, which is one tenth less than in the previous quarter, while moderating its interannual rate by two tenths, from 2% in the second quarter to 1.8% in the third, due to the lower contribution of domestic demand.

For their part, the Wall Street indices closed yesterday with falls after knowing the strength of the US economy, since its GDP grew by 4.9% in the third quarter, although today the futures anticipated a bullish opening pending PCE inflation in September, one of the reference measures of the Federal Reserve (Fed) when evaluating its monetary policy and which also has a meeting scheduled next week.

In the middle section of this session, the biggest increases within the Ibex 35 were recorded by Banco Sabadell (4.1%), Grifols (2.8%), ACS (2.56%) and Caixabank (2.3%). , while on the opposite side the most prominent 'red lanterns' were Fluidra (-1.78%), IAG (-1.31%), Sacyr (-0.75%) and Iberdrola (-0.65%) .

Most of the main European stock markets were opting for increases at midday: London added 0.29%; Milan 0.45% and Frankfurt 0.62%. The exception was Paris, which left 0.36%.

At the same time, the price of a barrel of Brent quality oil, a reference for the Old Continent, was on the edge of 90 dollars, 2.15% more, while Texas rose 2.13%, to $85, both affected by the escalation of tensions in the Middle East following the open war between Hamas and Israel, as well as the situation in Iran, in addition to pressures related to the conflict in Ukraine and the cut in supplies from Russia and Saudi Arabia .

In the foreign exchange market, the price of the euro fell 0.05% against the dollar, to 1.0557 greenbacks, while the interest on long-term Spanish debt stood at 3.917% after subtracting almost five basis points, while the risk premium (the differential with the German bond) remained at 109.2 points.