The Ibex 35 advances 1.33% and defends 8,400 points in the middle of the session

MADRID, 17 May.

The Ibex 35 advances 1.33% and defends 8,400 points in the middle of the session


The Ibex 35 rose 1.33% in the mid-session on Tuesday, reaching 8,465.2 points, on a day in which the quarterly Gross Domestic Product (GDP) of the euro zone was published and in the that investors closely follow the evolution of Covid-19 in China.

The authorities of the Chinese city of Shanghai have set themselves the goal of returning to normality in June. "Fifteen of Shanghai's 16 districts have removed the Covid-19 restrictions outside the quarantine zones," said Zong Ming, deputy mayor of the city, as reported by the 'China Daily'.

On the other hand, the International Trade Commission of the European Parliament has given its approval to the suspension for one year of European tariffs on imports from Ukraine, a measure pending the formal adoption of the plenary session of the European Parliament this Thursday and that intends to give new support to the economy of the country at war.

Regarding the publication of macroeconomic data, it has been known that the GDP of the euro area rose by 0.3% in the first quarter, one tenth above the initial estimate.

In Spain, the debt of the public administrations as a whole registered an increase of 0.85% in March compared to February, reaching the historical maximum of 1,453 billion euros, which stands at 117.7% of GDP, according to advanced data this Tuesday by the Bank of Spain.

On the other hand, the trade deficit stood at 15,416.5 million euros in the first quarter of the year, which means multiplying by almost five (372%) that registered in the same period of 2021.

In this scenario, the biggest increase in the Ibex 35 was presented by CaixaBank (3.86%), which has presented its new Strategic Plan 2022-2024 to the market, which foresees a return of 12% in three years and a generation of capital of 9,000 millions of euros.

It was followed by IAG (3.65%), Repsol (3.36%), Sabadell (3.29%), Acerinox (3%) and Bankinter (2.82%). In 'red' only Grifols was placed, which fell by 1.43%.

The rest of the European stock markets also maintained their gains in the mid-session, 0.92% in London, 1.48% in Paris, 1.62% in Frankfurt and 1.66% in Milan.

The price of a barrel of Brent crude oil, a benchmark for Europe, stood at 115 dollars, with an advance of 0.68%, while the barrel of WTI oil, a benchmark for the US, rose 0.56% , up to $114.84.

Finally, the price of the euro against the dollar stood at 1.0481 'greenbacks', while the Spanish risk premium stood at 106 basis points, with the interest required on the ten-year bond at 2.032%.