The Ibex 35 gives up 0.7% in the mid-session and is headed for its sixth session of losses

MADRID, 25 Oct.

The Ibex 35 gives up 0.7% in the mid-session and is headed for its sixth session of losses


The Ibex 35 registered a fall of 0.7% in the mid-session this Wednesday and stood at 8,911.7 points in a day marked by uncertainty about the consequences of the conflict between Israel and Hamas, as well as the publication of results business in Spain of entities such as Banco Santander.

The Spanish market is thus heading for its sixth consecutive session of losses after having started today with a strong decline that has caused it to promptly lose the level of 8,900 points, at levels at the end of last March - when the markets faltered. due to the crisis of financial entities in the United States and Switzerland -, although it has later managed to moderate the losses and at midday it remained slightly above that level

Before the start of the trading day, Banco Santander informed the National Securities Market Commission (CNMV) that it obtained an attributable profit of 8,143 million euros in the first nine months of 2023, 11% more in current euros (a 13% more in constant euros) compared to the same period of the previous year thanks to the strong growth in income, especially in Europe and Mexico, which made it possible to neutralize the increase in provisions.

At midday, the entity chaired by Patricia Botín was the second most bullish on the selective with a rise of 1.1%.

This Wednesday it was also known that industrial prices decreased by 8.6% in September compared to the same month in 2022, a rate almost 1.5 points higher than that registered in August, when the largest drop was recorded since 1976, according to The National Institute of Statistics (INE) reported this Wednesday. For its part, Germany's Ifo business confidence index in October has improved more than expected.

Investors will also be awaiting the interventions this Wednesday by the president of the European Central Bank (ECB), Christine Lagarde, and her counterpart at the United States Federal Reserve (Fed), Jerome Powell. Tomorrow the decision on the ECB's interest rates will be announced, now at 4.5%.

In the middle section of this session, the biggest increases within the Ibex 35 were recorded by Banco Sabadell (1.16%); Banco Santander (1.1%) and Acerinox (.8%), while on the opposite side the most prominent 'red lanterns' were Grifols (-3.51%), Telefónica (-2.33%) Acciona Energía ( -2.18%), IAG (-2.12%) and Ferrovial (-2%).

The main European stock markets also showed declines at midday: London fell 0.1%; Frankfurt 0.38%; Paris 0.44% and Milan 1.2%.

At the same time, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 88 dollars, 0.05% less, while Texas fell 0.2%, to 83, $58, both affected by the escalation of tensions in the Middle East following the open war between Hamas and Israel, as well as the situation in Iran, in addition to pressures related to the conflict in Ukraine and the cut in supplies from Russia and Saudi Arabia .

In the foreign exchange market, the price of the euro depreciated 0.15% against the dollar and stood at 1.0575 greenbacks, while the Spanish risk premium was around 112 basis points, with the interest required 10-year bond at 3.975% after adding four basis points.