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Saturday, February 4, 2023

The Ibex 35 closes in the green up 0.5% and settles at 8100 integers



The Ibex 35 ended the session on a positive note, up 0.56%, which has seen it close at 8,142.1 integers, consolidating the 8,100 point level that the selective course recovered this Wednesday, after after he had lost it on July 29th.

The day was marked by the meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as OPEC+, who have decided to increase their combined production by just 100,000 barrels of oil per day from September.

This decision contrasts with the decision taken in June, when OPEC+ decided to accelerate production growth for July and August to 648,000 barrels per day compared to the previous rate of 432,000 barrels, an increase of more than 200,000 barrels.

Following this news, the price of a barrel of Brent crude oil, a reference for Europe, fell to $98, down 2% from the value marked yesterday, while the Texas stood at $92, also down 2%.

Also among today’s references is the release of the Composite Purchasing Managers’ Index (PMI) for the eurozone, where private sector activity fell in July for the first time in 17 months as a result of the impact of high inflation on demand. In fact, the index fell to 49.9 points from 52 in the previous month. In contrast, Russia’s PMI shows that private activity growth accelerated its expansion in July.

In Spain, the services PMI was released, showing a solid expansion rate of 53.8 points in July versus 54 points in the previous month, despite inflation and worsening economic expectations.

However, the composite PMI for the Spanish economy slipped to 52.7 points, compared to 53.6 whole numbers in June, indicating the weakest level of expansion in private sector activity in the country over the past six months.

Regarding the arrival in Taiwan of Speaker of the United States House of Representatives Nancy Pelosi yesterday, tensions seem to have eased, allowing the Japanese Nikkei to post gains (+0.53%) and the Hong’s Hang Seng Kong Stock Exchange (+0.40%), although the Shanghai CSI 300 fell 0.97%.

The largest increases were recorded by Fluidra (+6.56%), PharmaMar (+3.28%), BBVA (+3.24%), IAG (+2.63%), Aena (+2.40%), Indra (+2.32%), Grifols (+2.18%), Banco Santander (+2.05%), Amadeus (+1.90%). On the other hand, there were Acciona (-2.54%), Enagás (-1.93%), CaixaBank (-1.80%), Sabadell (-1.42%), Red Eléctrica (-1.33% ) and Telefónica (-1.19%).

The rest of the European equity markets also closed green, with 1.03% in Frankfurt, 1.00% in Milan, 0.97% in Paris and 0.49% in London.

Finally, the euro was trading at 1.0138 “greenbacks” against the dollar, while the risk premium was 112 basis points and the yield on the 10-year Spanish bond was 1.974%.


Source europapress.es

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