The Ibex-35 falls 0.2% pending the Federal Reserve

The Spanish Stock Market manages to hold above 8,000 points


The Ibex 35 has closed at 8,069.6 points in the session this Tuesday, after falling 0.2%, in a day marked by the revision of economic perspectives and in which the meeting of the Federal Reserve (Fed) begins of the United States, whose outcome will be known tomorrow.

On Tuesday, the Government has maintained its growth forecast for the Spanish economy at 4.3% for this year, but has cut its estimate for 2023 by eight tenths, to 2.7%, in a context of high uncertainty due to the impact of the war in Ukraine and the rise in prices, especially energy prices.

In addition, it has approved the non-financial spending limit, known as the 'expenditure ceiling', of the State Budget for 2023, which rises to the record figure of 198,221 million euros, which is 1.1% more than the previous year, including funds from the European Union.

On its side, the International Monetary Fund (IMF) published its new economic outlook on Tuesday, which includes a general downgrade for the entire world, including Spain, due to the implications of inflation in the West, a worse-than-expected slowdown in China and the consequences of the war in Ukraine.

The IMF considers that Spain will grow 4% in 2022, which represents a reduction of eight tenths compared to the forecasts published in April. With respect to 2023, he expects Spain to post a growth of 2%, which represents a hefty reduction of 1.3 points compared to the forecasts of three months ago.

Also in Spain, the INE has published that industrial prices rose by 1.9% last June compared to the previous month and shot up 43.2% year-on-year, although the latter rate has moderated four tenths compared to the one registered in May.

On the other hand, the EU energy ministers reached a political agreement on Tuesday to reduce gas consumption in the community market by 15% on a "voluntary" basis until next spring, although with exceptions such as interconnections or the capacity to export, after the proposal of the European Commission last week to deal with possible gas supply cuts by Russia. It is calculated that Spain will have to assume an average cut in consumption of 7%.

In this scenario, the biggest increases in the Ibex 35 have been presented by Corporación Acciona Energía (+3.18%), Grifols (+2.05%), Cellnex (+1.67%), Acciona (+1.54%) and Endesa (+1.46%).

On the contrary, in the negative field, Inditex (-2.69%), Indra (-2.67%), Fluidra (-2.49%), BBVA (-2.17%) and Arcelormittal (-1) stood out. .54%).

The rest of the European stock markets have closed with declines of 0.42% in Paris, 0.86% in Frankfurt and 1.04% in Milan, while London has closed with a flat behavior.

On the other hand, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 15.03 dollars, with a decrease of 0.11%, while Texas stood at 95.88 dollars, after falling 0.85%.

Finally, the price of the euro against the dollar stood at 1.0117 'greenbacks', while the Spanish risk premium stood at 118 basis points, with the interest required on the ten-year bond at 2.103%.

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