IBEX 35 ANALYSIS: Spain Stocks Down for 2nd Session
The IBEX 35 edged down to 10,140 on Monday, declining for the second session and following most of its European peers, as investors exercised caution ahead of this week's publication of inflation figures in the US, which could shed some light on interest rates path.
On the macroeconomic front, Euro Area retails sales fell as expected in November, while the economic sentiment rose to the 7-month high in December.
The index was dragged by Inmobiliaria (-2.8%), Grifols (-2.5%), and Merlin Properties (-2.3%).
The real estate sector came under the pressure after Morgan Stanley downgraded its recommendation for Inmobiliaria from neutral to underweight and for Merlin Properties from overweight to neutral. Additionally, the analysts cut their price target for Repsol, which lost 1.2% today, affected by lower oil prices.
On the macroeconomic front, Euro Area retails sales fell as expected in November, while the economic sentiment rose to the 7-month high in December.
The index was dragged by Inmobiliaria (-2.8%), Grifols (-2.5%), and Merlin Properties (-2.3%).
The real estate sector came under the pressure after Morgan Stanley downgraded its recommendation for Inmobiliaria from neutral to underweight and for Merlin Properties from overweight to neutral. Additionally, the analysts cut their price target for Repsol, which lost 1.2% today, affected by lower oil prices.