The IBEX 35 fell 0.68 % on Wednesday to end May levels, closing slightly above 9,100 points, affected by the sharp fall of one of its major stocks, Repsol, which lost 4 % after the sharp drop in oil prices.
The benchmark index of the Spanish stock market, the IBEX 35, has lost 62.6 points, that 0.68 %, to 9,102.9 points. For the year, it is still up 10.62 %.
In Europe, with the euro at 1.0513 dollars, Frankfurt ended with a rise of 0.1 %, Paris repeated the same quotation, while London was down 0.77 % and Milan 0.17 %.
The Spanish stock market began the day with losses and minutes after the start of trading lost the 9,100 point mark after the fall of Wall Street yesterday and the Asian markets opened this morning.
The Dow Jones Industrials index on the New York Stock Exchange closed Tuesday down 1.29%, while in Asia, Tokyo fell 2.28% and Hong Kong 0.52%. New Zealand kept interest rates unchanged at 5.5 %.
With activity in the services sector improving last month in Spain, Germany, Italy and the eurozone (it fell in France and the United Kingdom), the stock market reduced its losses, comfortably recovered the level of 9,100 points and even rose slightly before midday.
Lagarde insists on interest rates as a defence against inflation
The President of the European Central Bank (ECB), Christine Lagarde, reiterated that interest rates in the euro area will remain at a restrictive level for as long as necessary to bring inflation down to 2% in the medium term.
The US ADP non-farm payrolls report showed that 89,000 jobs were created last month and that activity in the US services sector grew in September.
Wall Street, which fell shortly after the open and dragged the domestic stock market back below 9,100 points, made small gains at the close in Europe, allowing the domestic market to break above that level by the end of the day.
The barrel of Brent oil fell 3.24% and was trading at the close of trading at just under 88 dollars after OPEC + decided to maintain the production cut until the end of the year.
Repsol, Inditex and BBVA, the worst performers among the IBEX 35 majors
Of the large stocks, only Iberdrola has risen, 1.24%, due to the rebound after the sharp falls of the last two sessions, and today marks the second largest rise in the IBEX; while Repsol has lost 4.06% (the main decline in that index), Inditex 1.8% (fifth place down), BBVA 1.37%, Telefónica 0.98% and Banco Santander 0.91%.
After Repsol, the second biggest fall on the IBEX was for Cellnex, down 2.91%, while Fluidra lost 2.45% and Indra 2.03%.
Only nine IBEX companies rose, with IAG in first place with a rise of 4.09% due to a favourable report from an investment firm, followed by Iberdrola, while Enagás gained 0.98%, Solaria 0.59% and Endesa 0.54%.
On the continuous market, 1,000 million euros were traded, with Inmobiliaria del Sur down 8.16% and Nextil up 5.05%.
The yield on Spanish long-term debt fell by five hundredths of a point at the end of the session to 4.01%. The risk premium remained at 110 basis points.
The gold price per troy ounce rose 0.06% to 1,824 dollars.