The Bank of Spain predicts that the DANA (isolated high-level depression) will dampen Spain’s GDP growth by two-tenths and increase inflation by 0.15 percentage points. The affected region, contributing to 2% of Spain’s GDP and 3% of its industrial activity, exposes the bank to a credit risk of 20.584 billion euros affecting 561,210 clients. The impact is set to drag the Q4 GDP growth rate down by a similar margin. On the other hand, despite the challenges faced by citizens due to rising living costs, Spain’s macroeconomy remains unusually robust amid a weak European outlook. Furthermore, a recent analysis reaffirms Spain’s position as the fourth major market in the Eurozone, retaining strong capital markets in H1 2024.
The Brent reached mid-day with losses of (-0.24 %), going down to 73.6 dollars per barrel. The gold until mid-day has had an increase of 0.17 %, quoting at 2632.4 dollars per ounce. Now, regarding equity, the EURO STOXX 50 has lost (-0.03 %) until mid-day, going back to 4762.89 points. The DAX 30 until mid-day … no data was not available, the FTSE 100 until mid-day … no data was not available, and the EURONEXT 100 has been losing (-0.11 %) until mid-day, going back to 1432.48 points.
Throughout the day the following indicators indicators for Europe have been published:, the PPI (YoY) of Germany in October (-1.1%).
Up until mid-day, the IBEX has got a decrease of (-0.43 %), to get to 11624.4 points. The best performers until the mid-day have been MERLIN PROPERTIES (+0.587 %), BANCO SABADELL (+0.379 %) and MAPFRE with an change of (+0.312 %) on its values respectively. The worst performers until the mid-day have been SOLARIA (-3.122 %), ACCIONA (-1.207 %) and ACCIONA ENERGIA with a change of (-1.119 %) on its values respectively.