Spain’s stock index Ibex-35 It started in negative on Tuesday before the collection of benefits after the rebound of the day before and some caution in the face of the news of the Federal Reserve and the labor report of the United States that will be known this week.
Minutes of the U.S. central bank’s latest meeting, due Wednesday, Dec. 4, could indicate the direction of U.S. interest rates in 2023 as debate continues over whether the time has come to halt monetary tightening to avoid a severe economic contraction.
More clues about the Fed’s possible course of action will also come in Friday’s U.S. job creation data, which will unease investors to show stronger-than-expected strength, as the strength of the labor market — and therefore the economy — gives the central bank room to turn off the money tap.
Analysts of the Spanish brokerage house Renta 4 noted that, however, this is “a generalized environment of low trading volumes (…) with the progressive reopening of markets”.
Today the stock markets of the United States and the United Kingdom resume activity, while in China a positive trend was observed, in the middle of a wave of COVID infections after the reopening of the country.
Chinese state media on Tuesday downplayed the severity of the surge of coronavirus cases sweeping the country, which led to a major contraction in Chinese factory activity in December.
At 08:02 GMT on Tuesday, Spain’s selective Ibex-35 was down 26.70 points, or 0.29%, at 8,345.10 points, while the FTSE index of large European stocks Eurofirst 300 advanced 0.60%.
In the banking sector, Santander lost 0.54%, BBVA fell by 0.61%, Caixa bank yielded 0.51%, Sabadell fell 0.29%, and Bankinter was left at 1.10%.
Among the large non-financial securities, Telefónica opened virtually unchanged, Inditex yielded 0.35%, Iberdrola was down 0.54%, Cellnex fell 0.35% and the oil company Repsol rose 0.23%, in a bullish environment of the price of a barrel of raw.