MADRID, 24 Abr. (EUROPA PRESS) –
The Ibex 35 lost 0.14% in the mid-session this Wednesday, but managed to retain 11,000 integers, in a session that is marked by the publication of business results from Iberdrola or Dominion and the publication of the IFO business confidence survey in Germany.
Before the market opened, it was known that Iberdrola obtained a net profit of 2,760 million euros in the first quarter of the year, which represents an increase of 85.8% compared to the 1,485 million euros in the same period of 2023. driven by the million-dollar capital gains recorded with the sale of assets in Mexico.
For its part, Dominion obtained a net profit of 7.3 million euros in the first quarter, a figure 40% lower than the profits of 12.1 million euros in the same period of 2023.
At the ‘macro’ level, the confidence of German businessmen stands out, which has improved in April for the third consecutive month, as reflected in the index prepared by the Munich Economic Research Institute (Ifo), which stood at 89.4. points from 87.9 the previous month, its highest reading since May of last year.
Renta 4 analysts highlighted, before learning about the improvement in the German IFO, that this data would add to the “good tone” shown yesterday by the eurozone PMIs, which stood at their highest levels in the last eleven months, driven by the improvement of services and despite the weakness in manufacturing, especially in Germany and France.
“The current PMI levels suggest that the European economy would be leaving stagnation and could grow around 0.3% in the second quarter, although we will also have to take into account the possible upward pressure on inflation due to the good times of the services, the sector from which the main price tensions come,” explain the firm’s experts.
In this context, the Ibex 35 stood at 11,063.7 points, with Acerinox (1.82%), Fluidra (1.75%), ArcelorMittal (1.49%), Indra (1.16%) and Aena (0.74%) as the most notable increases. On the opposite side, Grifols led the falls, with a decrease of 1.80%, followed by Cellnex (-1.29%), Merlin (-1.25%), Sabadell (-0.99%), Unicaja ( -0.61%) and Inditex (-0.59%). Iberdrola remained flat after presenting its accounts.
The main European stock markets were trading in ‘green’, with increases of 0.50% in London, 0.22% in Paris and Frankfurt, and 0.09% in Milan.
In the raw materials market, the price of a barrel of Brent quality oil, a reference for the Old Continent, fell 0.36%, to $88.10, while that of Texas stood at $82.90. , 0.44% less.
In the foreign exchange market, the price of the euro against the dollar depreciated 0.13% to 1.0687 ‘greenbacks’, while in the debt market the interest required on the 10-year Spanish bond climbed to 3.325% with the risk premium at 77 basis points.
