The Ibex 35 rises 0.28% and is at the annual maximum at the edge of 9,700 points

MADRID, 16 Nov.

The Ibex 35 rises 0.28% and is at the annual maximum at the edge of 9,700 points


The Ibex 35 has chained its fourth consecutive session on the rise after rising 0.28% this Thursday, which has allowed it to stand at 9,667.4 points, very close to the level of 9,700 integers at which, however, has been quoted in the first hour of trading.

The main indicator of the Spanish market, which has revalued by 17.48% this year, has achieved its third best result of 2023 this Thursday - on July 27 and 28 it closed, respectively, at 9,685 and 9,694 points -, and reaches Therefore, levels that had not previously been seen since March 2020, when the coronavirus broke into the markets.

The Ibex has managed to remain on the rise thanks to the pull of renewables and, in particular, of Iberdrola, one of the largest stocks on the selective, which has risen 2.13% in the session, the second highest rise on the selective, and which, in turn, has managed to offset the fall of Repsol (-2.34%), which has presided over the losses as it was weighed down by the sharp falls in oil.

On the political level, the day has been marked by the investiture of Pedro Sánchez as President of the Government after obtaining an absolute majority of 179 votes in the Congress of Deputies and the opposite position of the Popular Party and Vox.

Within the 'macro' agenda this Thursday, the greater than expected fall - it has subtracted 0.6% - in the United States industrial production index in October has barely stood out, in addition to a greater than expected increase in weekly claims of unemployment in that country; which would reinforce the hypothesis that the monetary adjustment is taking effect and the economy is slowing down.

For her part, the president of the European Central Bank (ECB), Christine Lagarde, has pointed out that the European financial system has to date avoided the worst scenario, that is, one in which systemic risks materialize at the same time. , while he has also warned that higher financing costs will have a dent in the banks' profitability, so "it would be imprudent to be complacent."

In the debt market, the Public Treasury has placed 4,349.01 million euros this Thursday in an auction of State bonds and obligations, in the expected medium-low range, and has raised the remuneration offered to investors for the debt to 20 years above 4.1%.

Within the Spanish market, after the takeover bid announced yesterday for Prosegur, this Thursday it was Talgo that shook the market by reporting that it had received "a preliminary expression of potential interest" from a Hungarian business group to present a takeover bid for 5 euros per share.

This has led Talgo, which is listed on the continuous market, to record the best result on the stock market by closing with an increase of close to 12%.

In this context, within the Ibex 35, Cellnex has led the increases with a rise of 2.43%, ahead of Iberdrola (2.13%), Redeia (1.48%), Solaria (1.42%), Naturgy (1.06%), ACS (1.05%) and Endesa (0.87%).

On the opposite side, the worst performance of the selective at the close of the session has been that of Repsol (-2.34%), followed by Sacyr (-1.47%), Bankinter (-1.28%), ArcelorMittal (-1 .22%), Rovi (-1.07%), Mélia (-0.98%) and Logista (-0.87%).

For their part, the rest of the European stock markets closed unevenly: Frankfurt rose 0.24% while Paris fell 0.57%; Milan 0.71% and London 1.01%.

At closing time in the Old Continent, a barrel of Brent experienced a drop of 4.35%, to 77.65 dollars, while West Texas Intermediate (WTI) stood at 73.1 dollars, 4. 63% less.

The interest rate on the long-term Spanish bond has closed at 3.583% after subtracting eight basis points, the lowest since September 2022, while the risk premium (the differential with the German bond) has been below 100 points. -specifically, at 99.6 points-.

In the currency market, the euro was trading flat against the dollar, reaching 1.0852 'greenbacks' for each unit of the community currency, despite the fact that it approached $1.09 shortly before the European closure.