The Spanish stock index IBEX 35 paused on Tuesday, after the rise of the day before, when it benefited from reports of a possible moderation in the trade policies of the president-elect of the United States.
Initial euphoria, sparked by a Washington Post report on plans for softer-than-expected tariffs, was deflated by Donald Trump’s subsequent denial, but the back-and-forth of the news highlighted the uncertainty surrounding the actual measures that the new US administration will ultimately approve.
Either way, the market will have plenty to entertain this week with the release of plenty of macroeconomic data on the US economy – particularly Friday’s jobs report – and Europe, as well as the minutes from the latest Federal Reserve meeting, which will be released on Wednesday.
On Tuesday, attention will shift to the euro zone’s interim price index, which according to a Reuters poll is expected to rebound from 2.2% year-on-year in November to 2.4% in December.
Bankinter analysts, however, believe that this week will not yet provide too many clues on the direction of the year, which could see a decline after the significant increases of previous years.
“We think a readjustment is necessary after the excellent 2024 and 2023, considering that valuations are not infinite, that inflation rates are maintained despite what central banks say, and that bond yields are rather high” , they said on their Telegram channel.
“However, we will not have fairly reliable indications on the starting tone of 2025 until the end of this week at the earliest. But we will be able to assess the tone of the volumes and that is already it “, they added.
-At 0805 GMT on Tuesday, Spain’s benchmark IBEX 35 index was down 21.40 points, or 0.18 percent, at 11,786.80 points, while the FTSE Eurofirst 300 index of major European stocks was lower. decrease of 0.20 percent.
In the banking sector, Santander lost 0.59%, BBVA 0.18%, Caixabank 0.34%, Sabadell 0.28%, Bankinter 0.44% and Unicaja Banco 0.54%.
Among large non-financial stocks, Telefónica fell 0.68%, Inditex rose 0.47%, Iberdrola fell 0.40%, Cellnex fell 0.53% and oil company Repsol lost 1%. .58%.
Outside the IBEX, OHLA fell by more than 5%, in a consolidation movement after the recent upward trend (+39% in December). On Monday, the group announced the consent of bondholders to refinancing as part of the group’s recapitalization plan.
(Reporting by Tomás Cobos; editing by Javi West Larrañaga)
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