Selective surges another 1.5% in full wave of corporate earnings
Optimism is returning to European stock markets amid a wave of corporate earnings that, in the case of the national stock market, has the banking sector as the main protagonist. The Ibex-35 rose nearly 1.5% to 7,794 points on Tuesday, on a day also marked by the decline in debt interest rates and the price of gas, giving investors pause.
The market was also supported by the German IFO index, which was better than expected despite falling further. Specifically, it stood at 84.3 points, from 84.4 points last month, but above the 83.5 expected by the consensus.
In this scenario, the largest increases in the Ibex 35 are presented by Fluidra (+5.06%), Cellnex (+5.03%), Colonial (+5.02%), Merlin (+4.16%), Grifols (+3.18%) and Inditex (+3.1%). Arcelormittal only (-1.64%), Repsol (-1.54%), Telefónica (-0.79%), Mapfre (-0.66%), Acerinox (-0.61%), Sabadell (-0 .55%) and Bankinter (-0.26%).
But the big protagonists of the week are without a doubt business results. Enagás led the session with a 15% increase in profits and reiterated its year-end targets. The price rejected the session with increases of 2%.
Investors have become more cautious with the banking sector ahead of the results Banco Santander will present on Wednesday, followed by CaixaBank and Sabadell at the end of the week.
The sector also plays a key role ahead of Thursday’s meeting of the European Central Bank (ECB), in which the monetary institution is expected to raise interest rates by up to 75 basis points.
Meanwhile, on the commodities market, a barrel of Brent oil, a benchmark for the old continent, stood at $93.51 on Tuesday, up 0.27%, while Texas’s price was $85.15. an increase of 0.67% .
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
