The Ibex exceeds 8,600 with the push of renewables


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The selective rises 1.20% to 8,623 points compared to the generalized losses in the rest of the European stock markets

COLPISA Madrid

The Spanish stock market gets rid of the widespread losses in Europe on a day marked by macroeconomic doubts and the new sanctions against Russia. The Ibex-35 has risen 1.20% to 8,623 points, its best level since February, with the upward push of renewables.

Siemens Gamesa (+6.83%), Solaria (+6.33%) and Iberdrola (+4.54%) have led the increases in the selective, with the energy sector as a whole also rising on the floor, in a day in which investors are still pending the aforementioned sanctions and the possible European blockade on imports of Russian gas and oil.

At the moment, a barrel of Brent, a reference in Europe, is trading at 107 dollars, while West Texas is once again at 103 dollars.

The increases in the Spanish stock market could have been even more forceful if it hadn't been for the burden of some banks such as Santander, BBVA or Sabadell, which have lost more than 1%. Investors collect profits in the sector despite a new rise in bond interest, which benefits the margins of entities.

Specifically, the return on the ten-year German bond rose to 0.60%, while the interest on the Spanish for the same term has exceeded 1.60% and the US treasury is close to 2.60%.

The price of the euro against the dollar stood at 1.0977 'greenbacks', while the Spanish risk premium stood at 92 basis points, with the interest required on the ten-year bond at 1.491%.



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