The Ibex closes flat, postBrexit uncertainty counteracts the Ifo data

The selective Spanish stock market closed on Wednesday flat, while investors kept cautious attentive to the next steps in a Brexit convulse, which offset the good data of the German Ifo.

German business confidence grew more than expected in December and stood at a maximum of six months, which is a sign that the manufacturing sector of the largest economy in Europe could be beginning to recover.

But the United Kingdom increased market tension by adopting an inflexible position on Tuesday, setting the deadline for reaching a new trade agreement with the European Union in December 2020 with the conviction that the prospect of an abrupt Brexit will force Brussels to act quickly to seal an agreement.

In this context, the Ibex-35 ended up 0.06%, to 9,621.8 points, while the European FTSE Eurofirst 300 index increased 0.07% to 1,620.79.

In the banking sector, Santander (MC: SAN) scored 0.8233%, while BBVA (MC: BBVA) rose 0.9311%, Bankia (MC: BKIA) registered 0.1336%, and Sabadell (MC: SABE) rose 0.7885%.

At the top of the table ended Caixabank (MC: CABK), with a revaluation of 1,586%, to 2,818 points, its highest level since June, followed by Acerinox (MC: ACX), which scored 1,567% until 9,984 points, its best level so far this year.

The last position of the table was occupied by the construction and infrastructure group ACS (MC: ACS), with a decrease of 2,078%.

Among the large industrial values, Telefónica (MC: TEF) fell 0.6343%, Inditex (MC: ITX) gained 0.2256%, Iberdrola (MC: IBE) rose 0.0655% and the oil company Repsol (MC : REP) 0.1433% was recorded.