2023-09-01 11:20:59
He Ibex 35 rebounded 0.3% in the mid-session this Friday after two days of falls and consolidated the 9,500 pointsto stand at 9,531.7 points, pending the official US employment report in August and after learning that manufacturing activity (PMI) in the euro area improved in August, although it remains in recessive territory for the fourteenth consecutive month .
On the other hand, the activity of the Spanish manufacturing sector deteriorated in August for the fifth consecutive month and has fallen to its lowest level so far this year, also according to the PMI indexwhich has dropped to 46.5 points from the 47.8 points of the previous month.
Manufacturing activity improves outside of Spain
In the rest of the euro area, manufacturing data for Germany, France and Italy They have revealed some improvement, although also in the area of contraction; furthermore, the PIB from Italy in the second quarter of this year it has shown a fall of 0.4%.
In Chinaon the other hand, it was revealed this morning that manufacturing activity in August, according to the PMI de Caixin, it returned to positive territory after a greater improvement than expected and has marked its highest level in six months, which would encourage a better recovery of the economy of the Asian giant.
Precisely in that country, its central bank has carried out this Friday a reverse repurchase operation or ‘repo’ for which it has injected 101 billion yuan (some 12,838 million euros) to banks to increase their liquidity, while announcing that it will cut two points, up to 4%, the mandatory foreign currency reserve rate for financial institutions, a measure that will be applied from September 15.
US employment data will be key in the session
However, experts from Banca March point out that today’s session will revolve around official US employment data and have indicated that “these figures are expected to confirm the cooling seen in other employment data published this week (JOLTS vacancy surveys or private job creation from the ADP), which would reinforce the expectations of a halt in the rate rise of the Federal Reserve (Fed)”.
In this context, the older Ibex rises They were targeted by Repsol (+4.18%), motivated by the increase in the price of crude oil Brent until reaching the maximum of August 2022; ArcelorMittal (+1,81%); Melia Hotels (+1,41%) y BBVA (+1.32%). On the other hand, on the descent side, the highlights were Narrator (-0,95%); Santander Bank (-0,82%) y Colonial (-0,62%).
The rest of the European markets traded with a different sign at noon: Paris added 0.06% and London 0.4%, while Milan 0.02% was left and frankfurt and 0.15%.
In the middle tranche of the negotiation, the price of a barrel of quality oil Brenta reference for the Old Continent, rose 1.1%, to 87.78 dollars -highest since August 2022-, while the Texas it stood at $84.56, 1.12% more.
In the currency market, the price of the euro against the dollar remained stable compared to yesterday’s close, up to 1.0845 ‘greenbacks’, while in the debt market the interest demanded on the 10-year Spanish bond climbed up to 3,498%.
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