The Spanish stock market manages to keep above 8,000 points
The Ibex 35 closed Tuesday at 8,069.6 points in the session, after falling 0.2%, on a day marked by the revision of the economic outlook and the meeting of the Federal Reserve (Fed) of the United States begins, the outcome of which will be known tomorrow.
On Tuesday, the government maintained its growth forecast for the Spanish economy at 4.3% for this year, but cut its 2023 forecast by eight tenths to 2.7%, in a context of great uncertainty due to the effects of the war in Ukraine and the rise in prices, especially energy prices.
In addition, it has approved the non-financial spending limit, the so-called ‘expenditure ceiling’, of the state budget for 2023, which rises to the record amount of 198,221 million euros, which is 1.1% more than the previous year, including money from the European Union. .
For its part, the International Monetary Fund (IMF) released its new economic outlook on Tuesday, which includes a general write-down for the entire world, including Spain, due to the impact of inflation in the West, a worse-than-expected slowdown in the China and the consequences of the war in Ukraine.
The IMF expects Spain to grow by 4% in 2022, an eight-tenth drop from forecasts published in April. Turning to 2023, he expects Spain to grow by 2%, which represents a sharp drop of 1.3 points from three months ago’s forecast.
Also in Spain, the INE published that industrial prices rose by 1.9% last June compared to the previous month and increased by 43.2% year-on-year, although the latter percentage has fallen by four-tenths compared to the previous month. figure recorded in May.
On the other hand, EU energy ministers reached a political agreement on Tuesday to reduce gas consumption in the community market by 15% on a “voluntary” basis until next spring, albeit with exceptions such as interconnections or the capacity to export, after the proposal from the European Commission last week to tackle possible gas supplies from Russia. It is calculated that Spain will have to assume an average decrease in consumption of 7%.
In this scenario, the largest increases in Ibex 35 are presented by Corporación Acciona Energía (+3.18%), Grifols (+2.05%), Cellnex (+1.67%), Acciona (+1.54%) and Endesa (+1.46%). ).
On the contrary, in the negative field, Inditex (-2.69%), Indra (-2.67%), Fluidra (-2.49%), BBVA (-2.17%) and Arcelormittal (-1) jumped out, 0.54%.
The rest of European equity markets closed with a 0.42% decline in Paris, 0.86% in Frankfurt and 1.04% in Milan, while London closed with flat behaviour.
On the other hand, the price of a barrel of Brent oil, a benchmark for the old continent, stood at $15.03, down 0.11%, while Texas stood at $95.88, after falling 0. .85%.
Finally, the price of the euro against the dollar was 1,0117 greenbacks, while the Spanish risk premium was 118 basis points, with a required yield on the 10-year bond of 2.103%.
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.
