2023-08-07 18:11:22
New session with few movements in the European stock markets, which extend the red numbers accumulated last week, although in a much more moderate way. With the low level of trading that usually occurs in these days of August, the Ibex-35 fell 0.1% to 9,358 points, with large stocks such as Acciona or Inditex weighing down the selective with losses at the close of 1.9% and of 1.37%, respectively.
The energy companies also put downward pressure, with falls that put an end to the good performance of some sectors such as banking, with increases of 1.42% for CaixaBank, 1% for Bankinter, 0.7% for Sabadell or BBVA and 0.35% for Banco Santander.
After the intense macro agenda of the last few days, the market is left with hardly any references to forcefully boost the rebound. In fact, the one that is expected to serve as the engine for the rises will not arrive until Thursday: the US CPI for the month of July.
According to analysts at Link Securities, the consensus expects inflation to go from 3% to 3.3% in year-on-year terms, with a drop in underlying inflation of one tenth, to 4.7%. A level that is still very far from the 2% target set by the Federal Reserve (Fed), which would cast doubt on the possible end of interest rate hikes.
Meanwhile, in Europe some data that points to the weakness of economies such as Germany continue to weigh. This Monday it was learned that the engine of the euro zone recorded a 1.5% drop in its industrial production, well above the 0.5% drop expected by analysts.
Meanwhile, in the raw materials market, the price of oil is falling again, after the recent rises that had produced the evidence that OPEC will continue without increasing its production in the coming months. After this movement, the Brent barrel, a reference in Europe, fell positions -more than 1%- to 85.27 dollars, while the US West Texas is around 81 dollars.
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