The main Spanish stock index started the month of September with losses, chaining its twelfth consecutive session in negative, the worst in its history, and touching its lowest level since mid-July.
Pessimism about high inflation gained strength on Wednesday, after an August price report showed a new record in the euro zone that could push its monetary authorities to take drastic measures.
“The ECB meeting on September 8 is still very close, but the latest data will probably be enough for even centrist members to go for a 75 basis point hike,” analysts at Mizuho (TYO: 8411 ) noted.
However, energy values closed positively, after the announcement by the Spanish government to reduce VAT on gas to 5% from 21% as of October to reduce the impact of the rise in international prices on electricity bills.
The selective Spanish stock market Ibex-35 closed with a fall of 80.10 points on Thursday, 1.02%, to 7,806.00 points, while the index of large European securities FTSE Eurofirst 300 lost 1.77%.
In the banking sector, Santander (BME: SAN ) lost 1.51%, BBVA (BME: BBVA ) fell 1.25%, Caixabank (BME: CABK ) lost 1.46%, Sabadell (BME: SABE ) fell 2.56%, and Bankinter (BME: BKT ) fell 2.14%.
Among the large non-financial stocks, Telefónica advanced 0.73%, Inditex (BME: ITX ) lost 1.39%, Iberdrola gained 1.16%, Cellnex fell 1.16% and oil company Repsol lost 0.77%.
Among the rest of the power companies, Naturgy added 0.25%, while Endesa (BME: ELE ) fell 0.29%.