The Ibex 35 rises 0.75% in the mid-session and exceeds the level of 9,800 points

MADRID, 20 Nov.

The Ibex 35 rises 0.75% in the mid-session and exceeds the level of 9,800 points


The Ibex 35 registered a rise of 0.75% in the mid-session and advanced above its annual highs of 9,800 points - specifically, it stood at 9,835.4 points - in a day marked by the absence of macroeconomic references and, At the political level, due to the formation of the new Government of Pedro Sánchez without any major changes in the economic portfolios.

The Spanish market has started on the rise and from the first hour of the negotiation it has settled above 9,800 points - levels not seen since February 2020, when the pandemic broke into the markets -, a level above which it now acquires an attitude of stability thanks to the fact that only three securities on the selective were trading negative at midday.

This Monday, German industrial production prices in October were barely known, having fallen by 11% year-on-year and 0.1% compared to the previous month; In the afternoon the index of leading indicators of the United States in October will be known.

On a business level, before the opening of the stock market, Endesa informed the National Securities Market Commission (CNMV) that it will have to pay about 570 million dollars (about 530 million euros) due to an arbitration award against it issued by the International Court of Arbitration of the International Chamber of Commerce (ICC) for the review of the price of a long-term supply contract for liquefied natural gas (LNG).

On the other hand, this week investors will be awaiting the publication of the manufacturing PMIs in Europe and the United States, the Ifo business survey in Germany and the minutes of the last Fed meeting, held on November 1, among other references.

In the middle section of this session, the biggest increases within the Ibex 35 were recorded by Cellnex (2.4%), Banco Sabadell (2.37%), Inditex (1.7%) and Caixabank (1.68) while On the other hand, only Endesa (-1.12%), Fluidra (-0.15%) and Merlín Properties (-0.07%) were listed in the red.

The main European stock markets were trading at midday with a mixed trend: Paris added 0.3% while London discounted 0.1%; Milan 0.16% and Frankfurt 0.2%.

At the same time, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 81.6 dollars, 1.23% more, while that of Texas rose 1.2%, to 76.8 dollars, both pending the escalation of tensions in the Middle East after 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.

Likewise, the price of oil will pivot this week around the OPEC meeting scheduled for next Sunday, November 26.

In the currency market, the price of the euro against the dollar stood at 1.0922 'greenbacks', while the interest rate on the long-term Spanish bond stood at 3.592%, unchanged from last year's close. Friday, while the risk premium (the spread with the German bond) remained at 99.1 points.