The Ibex 35 deepens its downward trend in the half session, on the verge of 9,400 integers

MADRID, 18 Jul.

The Ibex 35 deepens its downward trend in the half session, on the verge of 9,400 integers


The Ibex 35 continued its downward trend in the half session on Tuesday, with a fall of 0.32% and standing at the edge of 9,400 integers, in such a way that it continued the downward trend registered since last Friday.

Renta 4 analysts point out that after the "weak data" for GDP in the second quarter and activity in China in June, several global banks have cut their growth forecast for 2023 to 5%, "putting the Chinese government's objective at risk ".

"In the words of Janet Yellen, US Treasury Secretary, the slowdown in the Asian giant could have negative implications for global growth (although limited in the US). For its part, China will try to boost private consumption with new stimuli," the experts add. .

Likewise, the markets will remain attentive during this day to the publication of the quarterly results, at an international level, of the Swiss pharmaceutical company Novartis and of the American banks Bank of America and Morgan Stanley.

On the other hand, the Russian authorities announced yesterday that the country has terminated the grain export agreement reached for the first time in July 2022 in the midst of the Russian invasion of Ukraine after denouncing breaches by Kiev.

The High Representative for Foreign Affairs and Security Policy of the European Union, Josep Borrell, has "unequivocally" condemned this decision, since "it is exacerbating the food security crisis created by its war of aggression against Ukraine and by the blockade of their ports".

In this way, the Madrid selective was placed at 9,407.4 integers, with Indra (1.42%), Rovi (0.55%), BBVA (0.54%), Acciona Energía (0.48%) and ArcelorMittal (0.36%) as higher increases.

On the other hand, the biggest falls were those of Telefónica (-2.27%), Merlin (-2.41%), Colonial (-1.29%), IAG (-0.97%), Meliá (- 0.92%) and Cellnex (-0.86%).

The main European stock markets traded with a positive sign, with slight increases of 0.23% in London, 0.08% in Milan, 0.05% in Frankfurt and 0.02% in Paris.

At the opening of the stock market, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 0.64%, to 79 dollars, while Texas stood at 74.70 dollars, 0. 74% more.

In the foreign exchange market, the price of the euro against the dollar stood at 1.1249 'green bills', while the Spanish risk premium was around 102 basis points, with the interest required on the 10-year bond in the 3.396%.