The Ibex seeks support at 8,900 after falling 1% in the mid-session

MADRID, 23 Oct.

The Ibex seeks support at 8,900 after falling 1% in the mid-session


The Ibex 35 deepened its bearish streak towards the mid-session, standing at 8,946.80 basis points towards 12:45 p.m., which implies a drop of 0.92% compared to Friday, in a day without major macroeconomic references.

The main 'beacon' for investors this morning has been the yield on the 10-year US bond, which has exceeded 5% for the first time since 2007.

This week, many companies will announce their results for the third quarter of the year. Among the Spanish listed companies will be Enagás, Banco Santander, Fluidra, Iberdrola, Banco Sabadell, Repsol, IAG, CaixaBank, Catalana Occidente, Metrovacesa, FCC, Gestamp, Mapfre and Línea Directa, among others. Outside of Spain, Alphabet, Orange, Coca-Cola, Meta, Carrefour, Amazon, Danone or the large Chinese banks will do so.

Investors will also be paying attention this week to the monetary policy meeting of the European Central Bank (ECB), which will take place this Thursday in Athens, when the data on the Gross Domestic Product (GDP) of the United States will also be released. Previously, this Tuesday, the United Kingdom unemployment rate and the eurozone PMI will be known.

In addition, this Wednesday the Ifo business confidence index in Germany will be revealed and Canada's central bank will meet, while the week will conclude this Friday with new data on Spain's GDP and with the end of the European Council.

In this context, only three values ​​escaped the 'red' and were trading positively towards the mid-session: IAG (0.91%), Inditex (0.60%), and Aena (0.22%).

On the other hand, the worst performance was for Cellnex (-4%), followed by Grifols (-3.02%), Solaria (-2.62%), Colonial (-2.50%), Merlin (-2, 33%), Acciona Energías Renovables (-2.22%) and Iberdrola (-1.98%).

The rest of the main European indices were also trading negative towards the mid-session, with London falling 0.67; Paris, 0.43%; Frankfurt, 0.98%; and Milan, 0.35%.

In the raw materials market, a barrel of Brent stood at $91.91, 0.27% less, while West Texas Intermediate (WTI) fell to $87.72, 0.42% less.

In the debt market, the yield on the Spanish bond with a 10-year maturity rose to 4.067%, from the 4.001% observed at the close of Friday. In this way, the risk premium against German debt fell 1.1 points, to 110.1 basis points.

Regarding currencies, the euro appreciated a little less than 0.1% against the dollar, reaching an exchange rate of 1.0599 'greenbacks' for each unit of the community currency.