The Ibex 35 falls 0.2% at the opening but holds the 9,400 points, with Inditex leading the declines

MADRID, September 13 (-) –

The Ibex 35 began this Wednesday’s session with a decline of 0.23%, which has taken the selective to 9,433 points, with Inditex leading the declines of the selective (-1.9%) after the presentation of its results .

The firm founded by Amancio Ortega registered a net profit of 2,513 million euros during the first half of its fiscal year 2023-2024 (between February 1 and July 31), which represents an increase of 40.1% compared to to the same period a year before, while sales grew by 13.5% and reached 16,851 million euros.

Along with Inditex, the falls of Grifols (-1.29%), Aena (-0.94%), Cellnex (-0.85%) and Acciona (-0.57%) also stood out at the opening, while On the promotion side, Sabadell (+0.47%), Naturgy (+0.30%), BBVA (+0.25%), Indra (+0.18%) and CaixaBank (+0. 14%).

This Wednesday, investors will be closely awaiting the publication of August inflation in the United States, due to the clues it could offer regarding interest rate decisions by the Federal Reserve (Fed).

Before the next Fed meeting, the focus will be on the Governing Council of the European Central Bank (ECB), which will hold a new monetary policy meeting tomorrow.

The European monetary authority is debating between stopping its path of raising rates, after nine consecutive increases, or continuing with the monetary tightening strategy, which on this occasion could be around a quarter of a point.

Investors will also be paying attention this Wednesday to industrial production in the eurozone and, for now, they are already assimilating the British GDP data released before the market opening.

The United Kingdom economy fell 0.5% in July compared to the previous month, weighed down by its three main economic sectors, especially services, a figure that contrasts with the 0.5% growth recorded by Europe’s second largest economy last June.

After the negative close of Wall Street, which was dragged down by the sharp decline in Oracle shares (-13.5%), the European stock markets woke up negative today. Specifically, Frankfurt and Paris lost more than 0.3% at the opening, while Milan lost 0.29% and London lost 0.1%.

At the opening of the stock market, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 0.2%, to 92.28 dollars, while Texas stood at 89.12 dollars, a 0.3% more.

In the foreign exchange market, the price of the euro against the dollar fell to 1.0736 ‘greenbacks’, while in the debt market the interest required on the 10-year Spanish bond rose to 3.716%.