The Ibex 35 remains indecisive and puts 10,100 at risk due to the Telefónica brake

The Ibex 35 is attacked and puts 10,100 points at risk. The selective starts the day with a fall of 027%, not counting on the momentum of Telefónica, which opens in a draw, and points to three consecutive days in the red on a day in which the US macroeconomy will be the one that sets the agenda. Investors are awaiting confirmation of the US GDP for the third quarter, which will be released one day before the publication of the PCE, the variable most followed by the Federal Reserve.

The Spanish reference puts on the brakes on a mixed day. Paris corrects 0.4%, Frankfurt falls 0.37%, Milan drops 0.4% and London falls 0.26%. “After the ‘rally’ experienced since the end of October, the normal thing is that the stock markets tend to consolidate levels, although it is difficult to see a severe correction because the bottom of the market is very solid with rising profits and lower rates,” the analysts at Bankinter. This trend occurs while fixed income consolidates its downward trend after breaking relevant barriers this week. The ten-year Spanish bond remains at 2.8%, while the German ‘bund’, the benchmark in Europe, is at 1.9%.

After the negative close on Wall Street that put an end to nine days of growth, the stock markets are taking a break and giving the spotlight to the IRR of bonds. At the same time, in the raw materials market, crude oil continues to rise. Brent, the benchmark in Europe, is making an effort to get closer to $80, while West Texas rose 0.87%, to $74 per barrel. Regarding currencies, the price of the euro against the dollar stands at 1.0952 ‘greenbacks’

Back in Spain, only a handful of stocks ranging from Logista (+0.75%) to Indra (+0.11%) are trading positively. Some banks stand out, such as CaixaBank (+0.43%), BBVA (+0.36%), Banco Sabadell (+0.09%) or Bankinter, which rose a modest 0.41% after the changes at the top. On the contrary, on the falls side, Grifols (-0.96%), Cellnex Telecom (-0.84%), Amadeus (-0.81%) and Repsol (-0.62%) stand out. Among the heavyweights, Inditex also drives the Ibex 35 (-0.29%) downward.