Ibex 35 lost 9,200 points as BBVA fell in Türkiye

Ibex 35 lost 9,200 points as BBVA fell in Türkiye

This morning, the European Commission raised its growth forecast for the Spanish economy to 1.9% in 2023, up five tenths from the winter forecast, while Spain is set to have an inflation rate of 4% for this year, the highest since last year. Four tenths less than the estimates.

For its part, Eurostat, the Community statistics office, has released on Monday the euro area’s index of industrial production for March, which showed a decline of 4.1% compared to the previous month, when it grew by 1.5%. , which represented the biggest monthly contraction since last October, while the data was down 1.4% compared to the same month in 2022.

Thus, Ibex was located on Friday at the day’s close at 9,199.98, down 34.12 points at the market close. After the elections in Turkey, BBVA’s value has fallen the most (4.21%), above Aina (-2.10%), ACS (-1.79%), Logista (-1.44), and Ferrovial (-1.16%).

BBVA shares were heavily impacted by the result of yesterday’s elections in Turkey, in which incumbent President Recep Tayyip Erdogan won but fell short of the required absolute majority, leading the country to a second presidential term. Election on 28 according to partial counting of votes

Vote for Turkish President and candidate for re-election, Recep Tayyip Erdoganhas been below 50%, so everything indicates that there will be a second round between the current president and his main rival, Kemal Kilikdaroglu.

To emerge victorious in this first round of the presidential election, candidates must have received more than 50% support. Otherwise, the Election Commission has made a plan runoff election For May 28th.

On the other hand, the biggest increases were registered by Solaria (+2.08%), Merlin Properties (2.3%), Meliá Hotels (1.96%), Banco Sabadell (1.32%) and Telefónica, whose shares rose by 1.16%.

All European stock exchanges posted modest gains this Monday, except the Euro STOXX 50, which fell 0.07%. The Italian FTSE MIB appreciated 0.92% at the end of the session; British FTSE 100, 0.30%; French CAC 40, 0.05%; and the German DAX index, 0.01%.

The Tokyo Stock Exchange today closed with a gain of 0.81% in its main indicator Nikkei. Encouraged by exporters, again ends at its best level in 18 months And more recently for the earnings announcements of several Japanese companies. The Nikkei gained 238.04 points to end at 29,626.34, while the Topix index, which groups stocks with the largest capitalizations, gained 18.46 points, or 0.88%, to end at 2,114.85.

This week, investors will be tracking various macro data from the Eurozone (inflation and GDP), as well as the ZEW Confidence Index and the Eurogroup meeting. In the area of ​​monetary policy, there will be several interventions by ECB President Christine Lagarde and Vice President Luis de Guindos.

Germany’s wholesale price index fell slightly in April compared with the same month a year earlier, the first year-on-year decline since December 2020, according to data released on Monday. The federal statistics office said wholesale prices fell 0.5% from the previous month and 0.4% from the previous month, compared with March readings of 2.0% and 0.2%.

Japan’s wholesale inflation slowed for a fourth straight month in April as commodity prices rose, data showed on Monday, suggesting consumer inflation will begin to ease towards the target for the year. 2% set by the central bank.

According to BOJ data, the corporate goods price index, which measures the prices that companies charge each other for their goods and services, rose 5.8% in April from a year earlier, its annual pace for the fourth straight month. had slowed down. The growth beat the average market forecast for a 5.4% rise and followed the 7.4% increase in March.

China’s central bank rolled over overdue medium-term loans on Monday And kept interest rates unchanged as expected, but the market expects monetary easing to be inevitable in the coming months to support the economic recovery.

The People’s Bank of China said it was lending 125 billion yuan ($18.08 billion) in one-year medium-term loans (MLF) to some financial institutions, keeping the interest rate unchanged at 2.75% of the previous operation.

leader of Group of Seven (G7) plans to tighten sanctions on Russia at their summit in Japan this weekWith measures targeting the energy sector and exports helping Moscow’s war campaign, officials with direct knowledge of the discussions said.

The bill on the right to housing will be debated in a plenary session of the Senate on Wednesday, when it is expected to be approved definitively and thus ready for publication in the BOE ahead of regional and municipal elections on May 28.

In the crude market, a barrel of Brent quality oil, a reference for the old continent, reached $75.33, 1.56% higher, while Texas advanced 1.58% to $71.15.

For its part, the yield on Spanish bonds with 10-year maturities in the secondary debt markets rose slightly to 3.373% from 3.366% seen at the beginning of the session. Meanwhile, the risk premium fell 1.56 basis points to 107.1 basis points.

In the forex market, the euro has been stable against the dollar, so the exchange rate has been around $1.0874 per euro.