The Ibex 35 opened this Thursday’s session with slight increases (0.3%), hovering around 11,050 points. The day is marked in Spain by yesterday’s announcement by President Pedro Sánchez, who is considering resigning for “the harassment” of his wife, after opening a Madrid court proceedings against Begoña Gómez due to a complaint from Clean Hands.
After a few minutes of exchanges, Sabadell recorded increases of up to 10% by presenting a profit of 300 million euros, 50% more. More restrained were the advances of Unicaja (2.4%) or CaixaBank (1.5%), although all banks were listed in the green. On the opposite side were Repsol (-2% after reducing its profit in the first quarter) and Indra (-1.7%). In more regulated sectors, such as energy, or that have had legislative changes in recent years, such as banking and increased taxation, changes in the Executive can have a greater impact.
The economy so far seems unrelated to politics, with growth greater than the environment and forecasts that extend the streak. IMF projections suggest that the economy will grow 1.9% this year – four tenths more than initially planned – and 2.1% in 2025. The entity, in any case, warned that political fragmentation can impact in growth. Mainly, because it can slow down the approval of pending structural reforms, such as in pensions or housing, and in the consolidation of accounts, now that the fiscal rules are back in force. That could lead to a decline in business confidence and investment, according to the Fund.
The policy adds a new focus of uncertainty at a time when the market was already aware of the war conflicts – from Ukraine to Iran and Israel -, the containment of inflation, the path of interest rates or the escalation of prices. of the oil. He was not lacking in fronts. And the year was already full of important electoral events, mainly in the US or Europe, and the IMF warned just a few days ago that going to the polls is a risk factor: it can give wings to populism and increase the public spending.
Outside of the stock market, the yield on 10-year Spanish public debt remained stable at 3.38%, Reuters reports.