The Ibex 35 put an end this Tuesday to a three-session positive streak by losing 0.21%, to 14,221.1 points, awaiting the development of trade negotiations between the United States and China.
The Spanish selective index has barely moved away from the closing levels of the previous day throughout the session, exchanging positive and negative signs; in fact, it opted for losses after the closing auction, weighed down by the fall of banking values.
Markets are trading expectantly with their eyes set on the continuation of negotiations between the United States and China in London, as experts from Banca March point out that the current focus of the dialogue is on the possibility of Washington easing some of the recent restrictions imposed on Beijing regarding semiconductor design software, aeronautical components, chemicals, and nuclear use elements.
«In exchange,» they continued from the institution, «China would commit to lifting restrictions on exports of rare earths, essential elements for sectors such as mobile telephony and defense.»
It is worth noting in this regard that the Asian country controls approximately 70% of the global production of these strategic resources.
On the macroeconomic agenda, it has emerged today that investor confidence in the eurozone in June, according to the Sentix index, has exceeded market expectations and has been positive territory, reaching highs from a year ago.
On the other hand, the UK unemployment rate in April rose by a tenth, to 4.6%, in line with the market consensus, while in the afternoon it was reported that the NFIB optimism index for US small businesses improved in May above what analysts projected.
On the national front, the Spanish Treasury has placed €2,479.75 million in a new auction of three- and nine-month bonds on Tuesday, within the expected range, and has done so by lowering the yield offered in both references, according to data published by the Bank of Spain.
In the Spanish business sector, Sacyr has sold three concessional assets in Colombia to the sustainable infrastructure investment fund Actis for $1.6 billion (€1,402.6 million), including debt and equity.
In parallel, the Government of Catalonia and the central government, with Aena’s approval, have reached an agreement this Tuesday on a «solid» proposal to expand Barcelona Airport for around €3.2 billion, with the expectation of completing it in 2033.
Also with the participation of the public entity, the Minister of Finance and Economics of the Basque Government, Noël d’Anjou, has announced that the operation for the entry of the Basque consortium led by José Antonio Jainaga into Talgo is «close to being finalized» and has pointed out that it is a possibility that the State Industrial Participations Company (SEPI) could be incorporated into it.
On the other hand, Duro Felguera, also supported by SEPI, is waiting for a possible extension of the pre-bankruptcy process, which expires this Thursday, June 12, to reach an agreement with financial entities and resolve the uncertainty about its bankruptcy situation.
In addition, the textile conglomerate Inditex, the most valuable listed company on the Spanish stock exchange, will report its quarterly results to the market tomorrow.
In this context, within the Ibex 35, the best performance has been signed by Sacyr with an increase of 3.23%, ahead of Colonial (+1.95%), Repsol (+1.79%), Grifols (+1.4%), Inditex (+1.11%), and Iberdrola (+0.94%).
On the other hand, the biggest declines have been seen in Bankinter (-3.48%), CaixaBank (-2.63%), Indra (-2.61%), Banco Santander (-2.02%), Mapfre (-1.06%), Sabadell (-1%), and Unicaja (-0.61%).
Likewise, losses have been the common denominator in most of Europe: Milan has subtracted 0.63% and Frankfurt 0.77%, while Paris has added 0.17% and London 0.24%.
The Brent barrel was at $67.5 at the close of the European session, up 0.72%, while West Texas Intermediate (WTI) reached $65.77, up 0.74%.
The yield on Spanish 10-year sovereign bonds closed at 3.095% after dropping half a basis point, with the risk premium against the German bond at 57.4 points.
In the forex market, the euro was trading virtually flat against the dollar, at 1.1422 dollars per euro.
On the other hand, the troy ounce of gold was trading unchanged at $3,325, while Bitcoin rose by 0.3% to $109,000.