The Spanish economy has been displaying a “very solid” performance, leading the International Monetary Fund (IMF) to predict it as the fastest-growing developed economy this year. However, the IMF has underscored that further improvements in productivity remain a pending issue for the Spanish economy. At the EU level, Spain has the third-highest number of active businesses in 2022, with 3.5 million companies, following France (5.2 million) and Italy (4.6 million). However, it also has the lowest rate of new business creation at 8.6%, according to Eurostat. On the retail front, seven chains increased their sales by more than 20% between 2021 and 2023, while 10 out of 13 businesses improved their profit margins. Simultaneously, Spain will raise the minimum wage, reaching up to 9.75 euros per hour as the workday gets shortened.

The Brent opened with virtually no change, at a price of 74.62 dollars per barrel. The gold opened the session with virtually no change, at a price of 2741.7 dollars per ounce. Now, regarding equity, the EURO STOXX 50 started the session with virtually no change, at 4918.05 points. The DAX 30 started the session with virtually no change, in 19405.31 points, the FTSE 100 started the session with virtually no change, at 8259.07 points, and the EURONEXT 100 started the session with virtually no change, at 1472.83 points.

Throughout the day the following indicators will be published: the PPI (MoM) of Spain in September., the Unemployment rate of Spain in Q3., the Index IFO business confidence of Germany in October.

The IBEX opened with virtually no change, at 11812.0 points. The best performers at the beginning of the day have been BANKINTER (+1.032 %), CAIXABANK (+0.901 %) and FLUIDRA with a change of (+0.694 %) on its values respectively. The worst performers at the beginning of the day have been FERROVIAL (-1.588 %), ACS (-0.819 %) and INDITEX with a change of (-0.691 %) on its values respectively.