Ibex 35 surges to 9,950 points mid-session


News Team

The Ibex 35, Spain’s main stock market index, saw a 0.55% increase in trading, reaching 9,951.4 points mid-session. This was a rebound from the 0.35% increase at the market opening. Chinese markets will be closed all week for the Chinese New Year, so investors will not have their reference this week.

On Tuesday, the Council of Ministers will approve deficit objectives after being overturned by the PP in the Senate, according to the Minister of Economy, Commerce, and Business, Carlos Body. In Germany, the real estate market saw a 7.2% year-on-year decrease in prices in the fourth quarter of 2023, the largest drop in the historical series of the index prepared by the VDP banking association, with a particularly deep collapse in the commercial segment.

Talgo shares dropped 7.64% after the Hungarian group Ganz-MaVag confirmed its interest in buying the railway manufacturer for 620 million euros. Unicaja Banco led the selective with an advance of 3.57%, followed by Solaria (+2.97%), Acciona (+2.91%), Grifols (+2.88%), Acciona EnergĂ­a (+2.78%), Colonial (+1.85%), and Cellnex (+1.75%). Only five stocks were trading negative towards mid-session: Rovi (-0.81%), Aena (-0.42%), CaixaBank (-0.28%), Logista (-0.23%), and Ferrovial (-0.08%).

In the rest of the main European stock markets, only London was trading lower, with a fall of 0.10%. Paris advanced 0.50%; Frankfurt, 0.48%; and Milan, 0.79%. The barrel of Brent began the week falling 0.85%, to $81.49, while West Texas Intermediate (WTI) stood at $76.26, 0.75% less. In the debt market, the yield on the Spanish bond with a 10-year maturity fell to 3.306%, from 3.369% registered at the close of Friday. The risk premium against German debt fell to 96.5 points, 2.2 points less. In the foreign exchange market, the euro depreciated 0.11% against the dollar, reaching 1.0722 ‘greenbacks’ for each unit of the community currency.

Image Source: www.infobae.com

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