The Ibex, further behind its neighbors, recovers positions but does not beat highs

The Ibex 35 has advanced 0.45%, to 9,189 points, although its behavior has been less positive than that of the rest of the large European stock exchanges. Gains in stocks such as Repsol, Telefónica, BBVA and Santander have been partially offset by falls in electricity companies, which has weighed down the rise in the index.

All this in one day with many business references. Telefónica has closed the sale of the Telxius towers to American Tower and has started its joint venture with Liberty in the United Kingdom. Both operations will allow you to reduce your debt by no less than 9.1bn euros, so the operator ends its eternal debt problem.

BBVA has also been a protagonist, which has closed the sale of its subsidiary in the United States for 9.6bn euros and now has between 5 and 5.5bn euros to carry out a corporate operation in one of its main markets (Spain or Mexico).

On the negative side, the electricity companies have continued to suffer on the stock market after the Government approved an ax blow to their remuneration of 1bn euros, which especially hurts Endesa and Iberdrola, as reflected in their price in the last two days.

GOOD MACROECONOMIC DATA

Today many relevant macro references have been known, starting with the manufacturing PMIs for the month of May (that of the euro area has risen to 63.1 from 62.8 and compared to the estimate of 62.8; that of Spain has improved to 59 , 4, although lower than expected), without forgetting the preliminary CPI for May in the euro zone (it has risen to 2%, the highest since 2018) and the unemployment rate for April (it has fallen to 8%) in the eurozone. In Germany, the unemployment rate has also been published, which stood at 6% in May.

In China, the Caixin / Markit manufacturing PMI for May stood at 52, above expectations for a reading of 51.9. The May data was also compared to the 51.9 reading for April.

The official manufacturing PMI, released on Monday, came in at 51.0, slightly below analysts' expectations, who had expected a reading of 51.1. In Asia, the stock markets have experienced a mixed session.

ATTENTION TO THE CRUDE

The alliance of oil-producing countries OPEC +, led by Saudi Arabia and Russia, confirmed on Tuesday that it will go ahead with the plan approved in April to gradually increase its crude supply, by about 2 million barrels a day between May and July.

At the end of a teleconference, the ministers of the sector of the Organization of Petroleum Exporting Countries (OPEC) and its ten allied nations "reaffirmed their current commitment", according to the final declaration of the virtual meeting.

Brent oil is up 2.6% now, to $ 71.16, and West Texas is up 3.5% to $ 68.65.

OTHER MARKETS

The euro trades at $ 1.2223.

Gold is consolidating above $ 1,900 ($ 1,908, + 0.2%) and silver is up 1.2%, to $ 28.35.

Bitcoin falls 0.2% to $ 36,630, and Ethereum appreciates 0.7% to $ 2,625.

The yield on the 10-year American bond stands at 1.615%.