IBEX 35 Rose 1.04% on Monday
The Spanish stock market rose 1.04% on Monday, surpassing the level of 11,000 points, according to market data. The IBEX 35 index, the main indicator of the national stock market, started July with an increase of 113.3 points, that is 1.04%, up to 11,057 points. In the year, it accumulates an increase of 9.45%.
International Markets and Eurozone
In Europe, with the euro at $1.0724 and up 0.09%, Milan gained 1.7%; Frankfurt 1.09%, Paris 0.3% and London 0.03%. Manufacturing activity in Japan improved last month and the yen continued to weaken. Tokyo gained 0.12%, Shanghai gained 0.92%, and Seoul 0.23%.
French Elections and National Group
The National Rally party (Le Pen) won the French legislative elections, but with less support than expected. This led to a rebound in international markets after worsening manufacturing activity in Europe and the United States.
Spanish Stock Market
The Spanish stock market began the day with gains of more than 1% and quickly surpassed the level of 11,100 points. The national market slowed its rise and within half an hour was already below the 11,100 point threshold. Manufacturing activity fell in the Eurozone, Germany, France, Italy, Spain, and the United Kingdom last month.
Wall Street Falls Below 11,100 Points Again
The New York stock market opened with gains of 0.7%, which allowed the national market to briefly recover the level of 11,100 points. With the slight drop in manufacturing activity in the United States, Wall Street reduced its profits and incurred losses, with which the national market lost 11,100 points again.
IBEX 35 Closes at 11,150 Points
The stock market took advantage of the 0.1% rise on Wall Street and the push from the banks (its sector index rose 2.15%) to break a four-day losing streak and end at 11,150 points. The barrel of Brent oil fell 0.44% to $86.03.
Banco Sabadell Leads Gains in the IBEX 35
Banco Sabadell led the IBEX 35 gains with a rise of 2.83%, followed by Acciona, which gained 2.81%, and Banco Santander, which gained 2.7%. Only five IBEX companies have fallen: Rovi 0.86%, Solaria 0.69%, Fluidra 0.56%, Inditex 0.22%, and Redeia, with a drop of 0.06%.
Spanish Government Bond Yields
The profitability of Spanish long-term debt increased five hundredths and ended at 3.467%. The risk premium with Germany fell to 86.5 basis points.