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Saturday, January 28, 2023

Ibex 35 falls 1.2% mid-session and sees 8k at risk after Fed rate hike



The Ibex 35 fell 1.2% mid-session, taking it to 8,021.00 integers, shedding the 8,100 point level it regained yesterday, on a day marked by the avalanche of financial results, including Repsol, Telefónica , Santander and Sabadell, and the Federal Reserve Board (Fed) meeting.

Specifically, yesterday, with the Spanish market closed, the Fed announced a 75 basis point rate hike to a target range of between 2.25% and 2.5%, the highest level since December 2018.

Among the results, in the first half of this year, Santander recorded an attributable profit of 4,894 million euros, 33% more than last year (+21% in constant euros), while Sabadell recorded a profit of 393 million euros, an increase of 78.6 % is equivalent to. more.

On its side, Telefónica earned 1,026 million euros net, while Repsol posted a net profit of 2,539 million euros, after doubling the profit of 1,235 million euros in the same period last year.

Likewise, the government is expected to submit two bills to Congress today on new taxes for the country’s major energy companies and banks.

Thus, midway through the session this Thursday, the biggest gains were ArcelorMittal (+3.52%), Acerinox (+2.76%), Aena (+2.05%), Merlin Properties (+1.06%) and Solaria (+0.65%). ), while on the other side were PharmaMar (-9.90%), Grifols (-7.45%), Repsol (-6.63%) and Rovi (-4.45%).

The rest of European equity markets traded with mixed behavior, with declines of 0.11% in London and 0.15% in Frankfurt, while Paris was flat and Milan rallied 1.12%.

On the other hand, the price of a barrel of Brent oil, a reference for the old continent, was $108.2, up 1.51%, while Texas was $99.23, after falling by 2.04%. had risen.

Finally, the euro was trading at 1.0106 “greenbacks” against the dollar, while the risk premium was 118 basis points and the yield on the 10-year Spanish bond was 2.123%.


Source europapress.es

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