Ibex 35 loses again 9,200 points due to European GDP and Chinese break

Ibex 35 loses again 9,200 points due to European GDP and Chinese break

The negative opening on Wall Street dragged down the Madrid index as well as the main European selects. In US stocks, the Dow Jones Industrial Average declined 0.68%, while the S&P 500 lost 0.24%. The NASDAQ 100, in contrast, rose 0.10%. In the case of the old continent, the German DAX lost 0.12%, the CAC 40, 0.16% and the Italian FTSE MIB, 0.67%, while the British FTSE 100 lost 0.34% in the session.

Ibex 35 is the biggest gainer this Tuesday, Inmobiliaria Colonial up by 1.19%, Aena by 0.98%, Telefónica by 0.92%, Amadeus by 0.78% and Ferrovial by 0.69% after presenting its results yesterday.

Acerinox fell 1.31% after it confirmed slower growth in industrial production in China, up 1.28% in Grifols A, 1.11% in Acciona Energy and 1.06% in Inditex and led the decline with ArcelorMittal down 1.31%.

Nikkei closed at its highest level in more than 19 months on the back of corporate earnings. The Tokyo Stock Exchange index rose 0.73%.

Euro area gross domestic product (GDP) grew by 0.1% in the first quarter of 2023, the first among twenty members of the single currency, After the stagnation recorded in the last three months Compared with Croatia’s totals, according to the second reading of figures published by Eurostat. without taking into account the Croatian economy joining the Eurozone in January 2023, The region’s GDP decreased by 0.1% with 19 countries In the fourth quarter of 2022.

In the case of the European Union (EU) as a whole, the GDP recorded in the first quarter of 2023 expansion of 0.2%, one-tenth less than expected, However, thus avoiding the risk of a technical recession following a contraction of 0.1% in the fourth quarter of 2022.

The German ZEW index, which measures sentiment among German investors, surprised with a relatively weak reading in May. The index stood at -10.7 points as against expectation of -5.3 points and previous reading of 4.1 points. Economists surveyed by the institute expect a significant deterioration in economic conditions over the next six months.

“Economists point out that the drop in expectations is largely due to expectations of an interest rate hike issued by the ECB, which could increase its eventual magnitude, given the prospect of a recession,” he tells XTB.

According to official data released by the country’s National Statistics Office (ONE) on Tuesday, Chinese industrial production continued to grow by 5.6% year-on-year in April, representing an advance over the figure for March (3.9%). does. Asian. However, the figure for the fourth month of the year was well below the most widespread forecasts among analysts, who had expected growth of around 10% compared to the same period in 2022.

For its part, inflation in Italy stood at 8.2% last April compared to 7.6% in the previous month, although a tenth less than the preliminary reading reported by the National Institute of Statistics (Istat).

Regarding the quarterly results weather, the market will have to digest the report of Inmobiliaria Colonial, which will present its accounts after market close today. Society Achieved a net result of 28 million euros in the first quarter of the yearWhich means matching the figure with respect to the same period last year with an increase of 3% in the rent signed in office contracts compared to the data at the end of 2022.

Specifically, it formalized 25 office rental contracts with a total space of 45,860 square meters in the first three months of 2023, a total of two fewer contracts and nearly 5,000 square meters of rents down from a year earlier.

Iberdrola is another hero after the newspaper Expansion has published that it is exploring selling up to 50% of its renewable energy in the US. The electric company will study the entry of a partner into Avangrid’s wind and solar plants, totaling approximately 28,000 MW, and will aspire to a valuation of 10,000 million for 100%. Meanwhile it has been published. secretThe US Supreme Court decided by mid-September on the purchase of PNM resources by Avangrid, a subsidiary of Iberdrola.

In the Continuous Market, one of the main characters of the day is AmRest. The restaurant operator has closed the sale of its KFC restaurant business in Russia to SmartService for 100 million euros, subject to prior conditions being met.

Through this transaction, AmRest has definitively ceased all of its operations and corporate presence in Russia, as reported by the company to the National Securities Market Commission (CNMV). The restaurant operator, which has already received €100 million in payments from SmartService, calculates that the operation could generate a consolidated net profit of €4 million.

The public treasury has sought 1,997.58 million euros in three- and nine-month bills on Tuesday, raising it to more than 6,000 million, more than three times the amount. Investors acquired ₹401.09 million in three-month bills with an interest rate of 3.09%, the highest since November 2011, when it reached 5.22%. In nine-month bills, the amount granted increased to 1,596.49 million euros with a nominal rate of 3.222%, the highest since loan sales began with this term in 2013.

A barrel of Brent was at $75.02, 0.28% lower, while West Texas Intermediate (WTI) fell 0.21% to $70.96.

In the debt market, the yield on the 10-year Spanish bond stood at 3.411%, while the risk premium over the German bond was 106.5 basis points.

In the foreign exchange market, the euro declined by 0.08% against the dollar, bringing the market rate to $1.0865 for every euro after mid-session.