2023-09-28 18:24:16
A respite for European stock markets after five days of losses, with investors looking askance at the rise in oil prices and the rise in debt interest. Two factors that reflect the evidence that the market fears so much that interest rates will continue to be high for some time.
After initial doubts, the Ibex-35 finally opted for profits, with a rise of 1% that allowed the selective to recover 9,400 points in the day before the closing of the month and the stock market quarter. To avoid closing September in negative, the indicator should regain 9,500 points.
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Something that it will only achieve if it manages to maintain the support of the banking sector, which these days is one of the most benefited by this expectation of high rates, in addition to the confirmation of the dividends of Santander and BBVA, two market heavyweights that this Thursday led the sector increases.
The entity chaired by Ana Botín rose 4.45% at the close, while BBVA rose 3.25%. Unicaja and CaixaBank also advanced around 1.5%, although it was Solaria who led the selective, shooting up 8% after announcing a profit of 50.1 million euros in the first half, 15% more, in addition to a agreement for a supply contract with Endesa.
With these rising values, the Stock Market managed to overcome the red numbers of Cellnex and energy values, which were placed at the bottom of the table. The good mood also came from the macro sector in the euro zone. And despite the rise in inflation in Spain, investors have welcomed the moderation in Germany’s advance CPI, standing at 4.5% year-on-year in September, from 6.1% in August.
Meanwhile, in the raw materials market, the slight respite in oil does not prevent a barrel of Brent crude oil – the benchmark in Europe – from continuing to hover around $94, while US West Texas crude oil exceeds $92.
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