Ibex 35 advances by 0.71% and records its third consecutive day of gains, driven by Solaria and Rovi. The index reached intraday highs since September 30.
The Ibex 35 is trading at 19,469 points at midday, with an increase of 0.71%, according to information published by fxstreet.es. The index started the day at 19,349 points and reached an intraday high of 19,602 points, its highest level since September 30.
The rise is led by Solaria Energía y Medio Ambiente, which is up 3.54% and reaches 16.620 euros, a peak since October 2. Following is Laboratorios Farmacéuticos Rovi, with an advance of 3.24% to 59.25 euros, a peak since September 30.
On the macroeconomic front, Eurostat has reported that retail sales in the eurozone increased by 0.8% year-on-year in August, below the predicted 1% and the 0.4% expected by the market. In Spain, industrial production grew by 1.5% in the same month, compared to 2.5% in July.
Olli Rehn, policy maker at the European Central Bank, has indicated that high long-term rates contribute to a slowdown in growth and has expressed concern about the reflection of inflation in prices and wages.
"High long-term rates contribute to a slowdown in growth," Rehn stated.
On the technical side, the Ibex 35 has short-term support at 17,916 points (minimum of June 10) and another at 17,239 points (minimum of May 4). The nearest resistance is at 20,310 points, the historical high reached on August 13.
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