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The Ibex 35 is moderating its decline to 0.49% and holding above 8,000 points

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The Ibex 35 closed the session down 0.49% to 8,084.9 points in a scenario marked by the avalanche of financial results and the United States Federal Reserve (Fed) meeting announced yesterday , with the market closed, a 75 basis point rise in interest rates to a target range of between 2.25% and 2.5%, the highest level since December 2018.

News broke this Thursday that the United States entered a technical recession in the second quarter of 2022, when its gross domestic product (GDP) posted a 0.2% contraction, after already falling 0.4% in the first three months of the year. had shrunk.

It was also released that economic confidence in the euro zone deteriorated significantly in July, as the European Commission’s Economic Sentiment Indicator (ESI) fell to 99 points from 103.5 in the previous month, its worst reading since February 2021, with Spain and Germany is leading the decline among the bloc’s major economies.

In Spain, unemployment fell by 255,300 people between April and June this year, the biggest fall in a second quarter since 2018, and the number of unemployed fell below three million for the first time since 2008.

Likewise, the government has registered in Congress a bill proposing to temporarily tax interest and net commissions of financial institutions with revenues of more than 800 million euros at a rate of 4.8% and at a rate of 1.2% of the total turnover of energy companies that bill more than 1,000 million euros a year, and a penalty for the companies that remit the tax to users.

At company level, Santander recorded an attributable profit of 4,894 million euros in the first half of this year, 33% more than last year (+21% in constant euros), while Sabadell recorded a profit of 393 million euros or 78.6%. 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.

In this scenario, the biggest gains for the Ibex 35 were Aena (+3.81%), Solaria (+3.58%), Acerinox (+3.15%), Cellnex (+2.22%), Arcelormittal (+ 1.92%), Ferrovial (+1.62%) and IAG (+1.38%).

On the negative side are PharmaMar (-13.77%), Grifols (-10.7%), Fluidra (-9.11%), Rovi (-8.12%), Sabadell (-5.03%), Repsol (-4.87%) and Indra (-2.92%).

As for the rest of the bank stocks, CaixaBank is down 2.48%, Santander is down 2.39% and Bankinter is down 2.31%, while BBVA is up 0.19%.

The Ibex 35 underperformed the rest of the major European stock markets, which gained 1.3% in Paris, 0.88% in Frankfurt and 2.1% in Milan, while London saw a modest decline of 0.04% % recorded.

On the other hand, the price of a barrel of Brent oil, a reference for the old continent, was $107.76, up 1.07%, while Texas was $98.12, after falling by 0.92%. had risen.

Finally, the euro was trading at 1.0167 “greenbacks” against the dollar, while the risk premium was 118 basis points and the yield on the 10-year Spanish bond was 1.952%.

Source europapress.es

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