The Spanish economy continues to show resilience relative to its Eurozone counterparts, according to the latest forecasts from the European Commission. Spain is expected to lead growth among the major economies in the region with a 3% GDP advance projected for 2024, surpassing the Spanish government’s own initial growth estimate of 2.7%. Spanish Economy Minister, Carlos Cuerpo, welcomed the positive outlook for the nation from Brussels. The Commission also upheld its projection that Spain will reduce its public deficit to 3% of GDP this year, thus meeting the limits set by European Union fiscal rules. These predictions do not take any potential economic impact from the DANA disaster into account as it’s too early to measure. Furthermore, Polonia has been highlighted as another strong performing economy.
The Brent opened with virtually no change, at a price of 71.74 dollars per barrel. The gold opened the session with virtually no change, at a price of 2569.4 dollars per ounce. Now, regarding equity, the EURO STOXX 50 started the session with virtually no change, at 4812.0 points. The DAX 30 started the session with virtually no change, in 19205.22 points, the FTSE 100 started the session with virtually no change, at 8069.06 points, and the EURONEXT 100 started the session with virtually no change, at 1445.85 points.
Close to market opening, the following macroeconomic indicators for Europe were published:, the CPI (YoY) of France in October (1.2%). Throughout the day the following indicators will be published: the core CPI (YoY) of France in October., the core CPI (YoY) of Italy in October., the CPI (YoY) of Italy in October.
The IBEX opened with virtually no change, at 11586.2 points. The best performers at the beginning of the day have been UNICAJA (+2.85 %), ACCIONA (+2.827 %) and ACCIONA ENERGIA with a change of (+2.683 %) on its values respectively. The worst performers at the beginning of the day have been LABORATORIOS ROVI (-4.831 %), GRIFOLS (-1.461 %) and CELLNEX with a change of (-1.062 %) on its values respectively.