The Ibex softens the opening increases and is trading flat at midday, halfway to 9,300 points

MADRID, 3 Nov.

The Ibex softens the opening increases and is trading flat at midday, halfway to 9,300 points


The Ibex 35 softened the opening increases at midday and was trading flat, reaching 9,263.4 points, after releasing unemployment data in the eurozone and awaiting data from the United States this afternoon.

All in all, and in the absence of today's closing, the main indicator of the Spanish market advanced in the accumulated weekly close to 4% motivated by business results and the pause in interest rate increases by the Federal Reserve (Fed). of the US and the Bank of England (BoE), while the European Central Bank (ECB) adopted that decision last week.

It would therefore be, provisionally, the best week for the Ibex since last March, which has allowed it to comfortably return above the level of 9,000 points after the collapse of the last six weeks with negative closings. .

This Friday it was learned that unemployment in Spain rose by 36,936 unemployed in October, while average affiliation increased by 92,862 new employees due to 'back to school'.

For its part, the unemployment rate in the eurozone stood at 6.5% last September, one tenth more, thus moving away from its lowest level in the entire historical series, while In the European Union as a whole it remained at 6%, according to data published by Eurostat; while this afternoon the official US employment report for October will be released.

It was also published early that Germany's exports totaled 126.5 billion euros last September, which represents a decrease of 2.4% compared to the previous month, in which Germany's sales abroad fell. half (-1.2%).

Within the business world of the Ibex, before the start of the trading day, Acerinox informed the National Securities Market Commission (CNMV) that it obtained a net profit of 348 million euros in the first nine months of this year, which It represents a decrease of 53% compared to the same period in 2022, when it earned 741 million euros.

For its part, Sacyr obtained an attributable net profit of 92.4 million euros in the first nine months of 2023, which represents an increase of 36% compared to the same period last year, while improving its result by 12%. gross operating profit (Ebitda), up to 980 million euros.

In the middle section of the negotiation, the biggest increases within the Ibex 35 were recorded by Sacyr (2.67%), Acciona Energía (2.24%), Fluidra (1.93%), Solaria (1.75%). , Acciona (1.75%) and Telefónica (1.73%), while on the opposite side the 'red lanterns' were Naturgy (-1.19%); Mélia Hotels (-1.03%); Inditex (-0.92%) and Iberdrola (-0.8%).

It should be noted that Naturgy was trading under the ex-dividend effect; without such effect, its value rose by 0.45%.

The main European stock markets also registered slight movements at midday: London fell 0.08% and Paris 0.1%, while Frankfurt rose 0.11% and Milan 0.2%.

At the same time, the price of a barrel of Brent quality oil, a reference for the Old Continent, was close to 87 dollars, 0.15% more, while that of Texas rose 0.4%, to 82.8 dollars, 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 currency market, the price of the euro appreciated 0.25% against the dollar, to 1.065 'greenbacks', while the interest on long-term Spanish debt stood at 3.757%, unchanged compared to the day before, with the risk premium (the differential with the German bond) at 104 points.