Ibex moderates decline after 35 CPI data, but doesn’t bounce back

Ibex 35 falls and walks away from 9,200 with Repsol as the main victim

The IBEX 35 pared its losses in the mid-session, compared with 0.58% in the opening session, and now yields 0.08% at 9,184.19 points. The worst was for Acciona Energias Renovables and Inmobiliaria Colonial, which lost close to 2%. Leading the advances, shares of Melia Hotels, adding 2%, were followed by Sasser and ArcelorMittal, rising 1.64% and 1.31%, respectively.

One of the heroes of the market is Sasir, it became known after last night The Grupo Unidos por el Canal (GUPC) consortium, in which the Spanish company has a 41.6% stake, will only receive an additional $35 million (about 32.2 million euros) from the Panama Canal Authority (PCA). For labor cost claims.

The group will receive this amount according to an award referring to the arbitration on ‘Gates and labor costs’, which was filed by the GUPC within the framework of the construction of the third set of locks project of the Panama Canal and which was issued this Tuesday Has gone. ICC Court of Arbitration, Miami. Additionally, but not unanimously, the ICC tribunal did not uphold GUPC’s claim for the redesign of the canal extension’s gates, which the consortium had to do to adapt them to the project.

In the financial sector, investors should pay attention to the price of Banco Santander today, as it remains under pressure since the publication of its results for the first quarter of the year at the end of April. Today, the newspaper Cinco Dias also published that the bank headed by Ana Botin will have to pay a fine of one million euros for the remuneration of Popular’s directors.

With regard to the recommendations of the analysts, Jefferies Experts Lowered Repsol recommendation to “Hold” from “Buy”, reducing price target from 19 14 euro, The company is also making headlines today after it was learned that Generalitat has sold its 5% stake in Petrocat.

In other morning news, ANA launched a private security tender for its Spanish airports for 1,500 million.

In the meantime, investors in the continuing market should continue to focus on NH Hotels. As published by Reuters agency, three independent directors of NH Hotels have resigned because they believe that the decision of the miner to buy the shares of the group in the market harms the minority shareholders.

In the pharmaceutical sector, PharmaMar will invest 200 million to launch its antitumor by 2025, according to El Economista.

This is different from today’s macroeconomic agenda Publication of the CPI for the euro area for April. Euro zone year-on-year inflation rate It jumped a tenth in April compared to the previous month, thus reaching 7% compared to 6.9% in MarchWhile in the European Union (EU), prices rose by 8.1% in March from 8.3%, according to data published by Eurostat, accumulating five months of moderation.

Meanwhile, investors are keeping an eye on the ongoing talks regarding the debt ceiling in the US. US President Joe Biden, a Democrat, and Kevin McCarthy, the Republican’s top congressman, came closer to a deal on Tuesday to avoid impending default on US debt, as the threat of disaster prompted Biden to cut short a trip to Asia this week. Inspired to

“Expectations that the negotiating parties will reach an agreement on the debt ceiling in the coming days, which we believe have increased following yesterday’s meeting between President Biden and US Congressional leaders, have kept many investors on their toes.” Markets eager to enter when US politicians definitively decide to defer the issue, thus reducing the uncertainty that keeps the markets paralyzed”, says Juan J. Fernandez-Figueres from Link Gestion .

In this expert’s opinion, “the most likely scenario is a short-term increase or suspension of the debt ceiling to allow the parties, the Biden administration and Congress, more time to reach a more definitive cut agreement.”

In Europe, the DAX has turned around and is now up 0.26% at 15,939.65, the CAC 40 is down 0.20% at 7,390.79, the FTSE 100 is down 0.06%, the FTSE MIB is down 0.27% and the EURO STOXX 50 is down 0.02% happened. 4,314.85 units.

During the Asian day, the Japan Stock Exchange shrugged off the downward pressure, with the Nikkei 225 index in Tokyo rising 0.84% ​​to 30,093. The Japanese economy emerged from recession and grew faster than expected in the first quarter, thanks to a post-crisis consumption boom that offset global headwinds and strengthened hopes of a sustained recovery, it was revealed today.

Yesterday, the main Wall Street indexes closed negative again, with the Dow Jones down more than 1% in the fifth session in the red in the past six. Futures are currently pointing slightly higher.

In commodity markets, traders remained cautious on crude after a surprise rise in US inventories fueled demand concerns following weaker-than-expected economic data from the US and China. They are now moving higher, with benchmark Brent oil futures in Europe rising 0.37% to $75.19 and West Texas by 0.35% to $71.12.

In fixed income, the return on the Spanish ten-year debt bond drops slightly to 3.399%, taking the risk premium to 106.80 basis points compared to its German counterpart. Across the Atlantic, the benchmark 10-year US bond offers a secondary market yield of 3.524%.

The cross between the euro and the dollar is located without much change in the morning, at $1.0861 for each community currency.