Spain’s main stock index closed lower on Tuesday and broke a four-session positive streak, after the publication of a higher-than-expected US consumer price index that could open the doors to a more aggressive monetary policy of the Federal Reserve.
US consumer prices unexpectedly rose in August and core inflation picked up amid rising rent and food costs, prompting the Fed to make a third interest rate hike of 75 basis points on next Wednesday.
In Germany, investor confidence fell more than expected in September, according to data from the ZEW institute, as the outlook for Europe’s largest economy clouded over energy supply concerns.
Before the opening, the final German CPI was known, which did not bring surprises with a historic year-on-year increase of 7.9%, largely as a result of the increase in energy prices.
The selective Spanish stock market Ibex-35 closed with a fall of 130.30 points on Tuesday, 1.59%, to 8,064.00 points, while the FTSE index of large European securities lost 1.37%.
In the banking sector, Santander (BME: ) lost 2.39%, BBVA (BME: ) fell 1.39%, Caixabank (BME: ) lost 1.98%, Sabadell (BME: ) fell 3.27%, and Bankinter (BME: ) dropped 1.39%.
Among the large non-financial stocks, Telefónica (BME: ) fell 0.33%, Inditex (BME:) lost 1.92%, Iberdrola (BME: ) added 0.05%, Cellnex (BME:) fell 4.58% and oil company Repsol (BME: ) lost 1.90%.