Spain’s President, Pedro Sánchez, recently underscored the country’s robust economic growth and its “open and competitive” business environment, during the inauguration of Spain-China Business Encounter in Shanghai. Sánchez reinforced Spain’s economic strength, its role as an attractive investment destination, and highlighted China as a key economic partner with aims to deepen the relationship through increased trade and investment. He emphasized that Spain, as the fourth largest economy in the Eurozone, is growing at a rate higher than its European counterparts. However, despite these positive pronouncements, there are indicators of an economic slowdown towards the year end amid political uncertainty, disinflation, and other factors. Recent economic data from the INE and the Bank of Spain suggest a modest growth trajectory for the Spanish economy.
The Brent opened with virtually no change, at a price of 71.56 dollars per barrel. The gold opened the session with virtually no change, at a price of 2533.4 dollars per ounce. Now, regarding equity, the EURO STOXX 50 started the session with virtually no change, at 4789.95 points. The DAX 30 started the session with virtually no change, in 18445.96 points, the FTSE 100 started the session with virtually no change, at 8231.04 points, and the EURONEXT 100 started the session with virtually no change, at 1457.77 points.
Close to market opening, the following macroeconomic indicators for Europe were published: the Unemployment rate of UK in July (4.1%), the CPI (YoY) of Germany in August (1.9%), the core CPI (YoY) of Germany in August (2.0%), the Industrial producction index of Spain in July (-0.4). Throughout the day the following indicators will be published: the Industrial producction index of Italy in July.
The IBEX opened with virtually no change, at 11330.8 points. The best performers at the beginning of the day have been INMOBILIARIA COLONIAL (+1.493 %), BBVA (+0.952 %) and BANCO SABADELL with a change of (+0.822 %) on its values respectively. The worst performers at the beginning of the day have been LABORATORIOS ROVI (-2.006 %), ARCELORMITTAL (-0.447 %) and ACCIONA ENERGIA with a change of (-0.272 %) on its values respectively.