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The Ibex 35 turns around and yields 0.26% in the session

MADRID, 6 Sep.

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The Ibex 35 turns around and yields 0.26% in the session


The Ibex 35 has turned around and closed Tuesday's session in 'red', recording a drop of 0.26% that has led it to fall back to 7,842.2 points.

This Tuesday the Wall Street reference has been recovered, after yesterday it remained closed for the 'Labor Day' holiday in the United States.

The scenario is marked by the energy crisis in Europe, after Russia announced yesterday the indefinite cut of the Nord Stream gas pipeline.

According to Renta 4 analysts, this increases the pressure for the European Central Bank (ECB) to speed up its interest rate hikes. In addition, they highlight that the decision will affect the countries most dependent on Russian gas, such as Germany, which may not be able to reach its 95% storage target by early November. "Even if those fill levels were reached, they would only cover two and a half months of consumption if there are no new flows," they add.

In addition, yesterday the Organization of Petroleum Exporting Countries (OPEC) and its allies, which together form the group known as OPEC, agreed to reduce joint production by 100,000 barrels of oil per day during the month of October, which represents the first cut since 2020 and "end the period of progressive return to the market of the offer that was withdrawn to adapt it to the drop in demand caused by Covid-19," says Renta 4.

On the other hand, this Tuesday it was known that the inflation of the group of countries belonging to the Organization for Economic Cooperation and Development (OECD) stood at 10.2% last July, which represents a fall one tenth compared to the previous month, and the first decline since November 2020, as reported by the club of countries on Tuesday.

In Spain, the President of the Government, Pedro Sánchez, has assured this Tuesday in his appearance in the Senate Plenary that there will be additional energy saving measures, but that "they will not be dramatic" given that "there will be no rationing or apocalyptic scenes" , for which he has sent a message of calm to the public.

In another order of things, the Public Treasury has placed 4,650.51 million euros in an auction of bills at 6 and 12 months, in the expected medium range, and has done so by remunerating investors with higher interest, according to data published by the Bank of Spain.

In this scenario, the biggest rises in the Ibex 35 have been presented by IAG (4.03%), Sabadell (1.66%), Bankinter (1.2%), Inditex (1.13%), Arcelormittal (0.96 %) and Acerinox (0.91%).

On the contrary, Cellnex (-2.04%), Solaria (-1.91%), Enagás (-1.59%), Repsol (-1.53%), Iberdrola (-1 .32%) and Endesa (-1.13%).

The rest of the European stock markets have closed with increases in London (0.18%), Paris (0.19%) and Frankfurt (0.87%), while Milan has finished with a flat behavior.

The barrel of Brent quality oil, a reference for the Old Continent, was at a price of 93.63 dollars, with a decrease of 2.2%, while the Texas was placed at 87.52 dollars, after rising a 0.76%.

Finally, the price of the euro against the dollar stood at 0.9916 'greenbacks', while the risk premium stood at 119 basis points and the return on the 10-year Spanish bond stood at 2.785%.

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