The Ibex 35 closed virtually unchanged on Wednesday, down 0.05% to 20,204.4 points, having hit a new intraday high of 20,307.6 points during the session. The index briefly moved into positive territory following the release of US inflation figures, but lost momentum in the final stages of trading. So far this year, it has risen by 16.78%.Among the day’s top gainers was Solaria, up 2.75%, followed by ACS (up 2.22%) and Amadeus (up 1.61%). At the other end of the scale, Inditex fell by 1.66%, whilst Fluidra lost 1.45% and Amadeus — according to BS Markets’ quote — was among the day’s biggest movers.
The main macroeconomic indicator of the session was the US CPI for July. Year-on-year inflation eased by one-tenth of a percentage point to 3.4%, down from 3.5% in June, whilst core inflation fell to 2.5%. On a monthly basis, prices rose by 0.1%. The figure was in line with expectations and partially eased fears of a more restrictive monetary policy by the Federal Reserve.
However, European stock markets were unable to hold onto their gains. The German DAX closed at 26,346.29 points (down 0.17%), whilst the French CAC 40 fell by 0.28%, to 8,714.94 points. The UK market also showed weakness, in a session influenced by oil price movements and geopolitical tensions in the Middle East.
The market also remained closely focused on oil and the Strait of Hormuz, given the risk of further disruptions to energy supplies. This factor continues to be one of the main sources of uncertainty for inflation and growth expectations.
In the United States, the inflation data allowed technology indices to perform better: the Nasdaq was up by around 0.64% at the close of European trading, whilst the Dow Jones remained virtually unchanged.
All in all, the session left the Ibex virtually unchanged, but still trading above 20,200 points and close to its all-time highs, in a market that remains focused on US inflation, the Fed’s next moves and developments in geopolitical and energy tensions.
