The Ibex 35 retreats by 1.48% and stands at 19,045 points. Solaria Energy and Bankinter lead the declines of the index, with drops exceeding 6%.
The Ibex 35 is trading at 19,045 points after losing 274 points on Thursday, a decline of 1.48%, according to FXStreet. The index opened at 19,254 points and reached a daily high of 19,271, but ended up dropping to lows not seen since October 20, at 18,927 points.
The largest declines correspond to Solaria Energy (SLR), which falls by 7.21% to 13.750 euros, at lows not seen since October 8. Meanwhile, Bankinter (BKT) drops by 6.02% to 14.335 euros, at lows not seen since June 25, ending two consecutive sessions of gains.
In the debt market, yields on French bonds rise amid fiscal concerns. The 10-year OAT bond reaches 5.10%, its highest level since 2002.
Traders are also closely monitoring the HCOB services PMI for the Eurozone, which will be published on Friday. Market consensus expects a reading of 52.8 points in October, down from 53 points in the previous period.
According to technical analysis, the Ibex 35 has a short-term support at 17,916 points, the low from June 10. The next key support is at 17,239 points, the low from May 4. On the upside, the nearest resistance is at 20,310 points, the all-time high reached on August 13.
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