Ibex 35 closed this Tuesday’s session with a revaluation of 0.70% and reached the expected 10,000 points, which it had not reached since February 17, 2020. The Spanish selector has been on the verge of this level in the last three sessions. but today, finally, on a day without major macroeconomic benchmarks, it has pulled away from the rest of the European stock indexes and overtaken them.
One of the incentives that investors have to buy stocks is the recent decline in bond interest rates due to the expectation that central banks will pause the interest rate increases that they started last year to stop the rise in inflation. The ten-year Spanish bond ended this Tuesday with a yield of 3.5%; that was half a point below recent highs. US Treasury bonds are trading below 4.4%, while German bonds are down 2.5%.
The most rising values in the Spanish index this Tuesday were Merlin Properties. This increase seems to be due to Goldman Sachs’ “buy” recommendation and the event it organized in London today to introduce the company to the international market.
The macroeconomic reference this Tuesday in the US was the publication of the Conference Board’s consumer confidence index for November; This index rose to 102, ending three consecutive months of decline.