Ibex 35 Falls 0.13% – Market Watch & Fed Concerns
- European and Asian markets presented a mixed picture on Monday morning, December 4, 2023.Japan's Gross Domestic Product (GDP) contracted more sharply than expected in the third quarter, while...
- Cepsa, which shares ownership with HitecVision, has entered into a strategic agreement with TotalEnergies to integrate its oil and gas activities in the British North Sea.
- Japan's economy experienced a 0.6% contraction between July and September 2023, exceeding initial expectations of a 0.4% decline.
European adn asian Markets Mixed; Repsol Leads Gains in Ibex 35
Table of Contents
Market Overview
European and Asian markets presented a mixed picture on Monday morning, December 4, 2023.Japan’s Gross Domestic Product (GDP) contracted more sharply than expected in the third quarter, while energy firm Cepsa announced a strategic agreement with TotalEnergies. The Ibex 35 index showed varied performance, with Repsol leading gains and Banco Santander experiencing a decline.
Cepsa and TotalEnergies agreement
Cepsa, which shares ownership with HitecVision, has entered into a strategic agreement with TotalEnergies to integrate its oil and gas activities in the British North Sea. This move is expected to strengthen Cepsa’s position in the North sea’s production sector. Details of the financial terms of the agreement were not instantly available. [Cepsa website](https://www.cepsa.com/en)
Japanese Economic Contraction
Japan’s economy experienced a 0.6% contraction between July and September 2023, exceeding initial expectations of a 0.4% decline. The downturn was primarily driven by a significant decrease in exports and reduced private sector investment, signaling potential headwinds for the world’s third-largest economy. This contraction raises concerns about Japan’s economic recovery following the COVID-19 pandemic.[Reuters report on Japan’s GDP](https://www.reuters.com/markets/asia-pacific/japan-q3-gdp-contracts-06-unexpectedly-2023-12-04/)
Ibex 35 performance
In early trading on December 4,2023,the Ibex 35 index showed a mixed performance. Leading the gains were:
- Indra (+1.31%)
- Acciona (+1.29%)
- Endesa (+0.85%)
- ACS (+0.74%)
- Repsol (+0.6%)
Conversely, the companies experiencing the largest declines were:
- Banco Santander (-1.1%)
- Fluidra (-0.62%)
- Telefónica (-0.48%)
European Index Movements
As of 9:15 a.m. CET on December 4, 2023, major European indices exhibited uneven behavior:
- Paris: -0.3%
- Frankfurt: -0.1%
- Milan: Slightly negative
- London: +0.03%
Commodity and Currency Markets
Oil prices edged higher, with Brent crude, the European benchmark, rising nearly 0.2% to $63.87 per barrel. west Texas Intermediate (WTI), the U.S. benchmark, increased by 0.23% to $60.22 per barrel. The euro was trading at 1.1658 dollars, while the yield on the 10-year Spanish bond rose to 3.286%, indicating increased investor demand for yield. [Investing.com oil prices](https://www.investing.com/commodities/crude-oil)