The Ibex-35 opens in charts pending US labor market data

The Ibex-35 opens in charts pending US labor market data

The Ibex-35 started on Friday without a clear trend, thus ending a streak of three moderate increases, given the reluctance of investors to take positions before the news about the US economy.

At 12:30 (GMT) the US job creation report for June will be released, for which analysts expect a certain slowdown, although without showing a recession in the world’s largest economy.

The markets will analyze the labor data to try to predict the direction of the US economy and therefore the cost of loans in the country, which in turn will determine the weekly evolution of the main Spanish stock market index, which at the opening of Friday It showed a slight accumulated rebound during the last five days.

“The publication of the employment report will serve as a thermometer to analyze whether the strong rate hikes that the FED is carrying out are cooling the economy,” Renta 4 analysts said in a daily note to clients.

At 07:05 GMT on Friday, the selective Spanish stock market Ibex-35 rose 1.20 points, or 0.01%, to 8,162.30 points, while the FTSE Eurofirst 300 index of large European stocks fell 0.05 %.

For the week as a whole, the Ibex-35 shows an increase of 0.07%​​.

In the banking sector, Santander rose 0.08%, BBVA fell 0.40%, Caixabank advanced 0.79%, Sabadell gained 0.44%, and Bankinter fell 0.56%.

Among the large non-financial stocks, Telefónica fell 0.05%, Inditex lost 0.04%, Iberdrola lost 0.14%, Cellnex gained 0.49% and the oil company Repsol lost 0.64%.

Pharma Mar stood out, with an advance of 3%, after receiving an “innovative designation” from the pharmaceutical authorities of the United Kingdom for the anticancer drug lurbinectedin.

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