The Ibex-35 collects benefits waiting for the Fed

November 23 (Reuters) – The main Spanish stock index started Wednesday’s session with a slight fall after the strong rebound of the previous session, pending news of macroeconomic data and the Federal Reserve of the United States.

During the day, the business polls PMI of November of various countries of the eurozone and of the USA will be known, which could give clues about the state of the economies, in a context of high inflation and fear of a recession.

“We remember that the last references in Europe showed that both the manufacturing activity and the service activity are in a contraction ground (for four and three consecutive months), as well as the service activity in the USA (during the last four months)”, escribieron los analistas de la casa Renta 4.

“En Europe se espera una leve caida additional, profundizando en zona de tracción, mientras que en EEUU se descuenta empeoramiento en manufacturas (hasta levels de 50) y estabilidad en servicios.”

También se publicarán las actas de la reunion de la Fed del pasado 2 de noviembre, a la espera de indicaciones sobre las futuros vidas de tipos interes en su lucha contra la implacable inflation.

Los mercados apuestan por una moderation en las subidas, y prevén que la siguiente sea de 50 básico puntos (pb) en lugar de los 75 pb de subidas anteriores.

El petróleo también se encuentra en el punto mira due to the world energy crisis as a cause of the Ukrainian conflict, and the price of the barrel of Brent crude oil went up by 0.86% at the time of writing this chronicle. The EU announced that the G7 probably announced a fixed ceiling to the Russian black gold, to reduce their income and allow the flow of money to the world markets.

At 08:05 GMT on Wednesday, the Spanish stock market Ibex-35 fell 19.10 points, or 0.23%, to 8,305.90 points, while the European stock index FTSE Eurofirst 300 advanced 0.04 %.

In the banking sector, Santander lost 0.41%, BBVA lost 0.47%, Caixabank lost 0.03%, Sabadell gained 0.07%, and Bankinter lost 0.25%.

Among the major non-financial stocks, Telefónica gained 0.17%, Inditex advanced 0.37%, Iberdrola lost 0.51%, Cellnex fell 0.21% and Repsol rose 0.80%. .

Destacaban al fundo del tablero the energy Endesa with a fall of 5.10%, and the pharmaceutical Rovi with a fall of 7.38%.

Endesa announced before the opening of the market its forecasts for 2022, augurando un major beneficio aunque menor profitability en los años siguientes due to high inflation and the new tax on extraordinary benefits.

Por su parte, la pharmaceutical Rovi predicted un crecimiento negativo de doble dígito para 2023.

(Information by José Muñoz, edited by Tomás Cobos)

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