The Ibex-35 comes up with slight discounts on the central banks

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September 19 (Reuters) – Spain’s main stock index opened slightly lower on Monday, in a market awaiting appointments from several central banks this week, amid an increasingly palpable sense that major economies are headed for recession.

The key reference will be the US Federal Reserve meeting, which analysts polled by Reuters expect will raise interest rates to curb persistent inflation, despite the risk of plunging activity into a deep slump.

“Given that fact, it appears that risk aversion returned to the scene last week, with a market making its position clear in the face of aggressive central bank policies added to inflation that has failed to stabilize and is increasing the recession starts drumming again,” said Diego Morín, an IG analyst.

Fears of an economic slowdown were appreciated in the oil market, where expectations of lower demand led to a fall in the price per barrel, with Brent crude falling 0.4% and WTI (West Texas Intermediate) falling 0.65%. Main industry references.

The day will be partially distorted in Europe by the closure of the UK market due to the state funeral of Queen Elizabeth II.

At 0705 GMT on Monday, the selective Spanish stock market Ibex-35 fell 24.30 points, or 0.30%, to 7,960.40 units, further away from the 8,000 point mark, while the major European stock index FTSE Eurofirst 300 down 0.40%.

In the banking sector, Santander lost 0.49%, BBVA fell 0.43%, Caixabank lost 0.62%, Sabadell gained 0.03% and Bankinter gained 0.55%.

Among the big non-financial stocks, Telefónica fell 0.52%, Inditex 0.94%, Iberdrola 0.24%, Cellnex 0.20% and oil company Repsol 0.46%.

Among other electric companies, Naturgy rose 2.23%, while Endesa lost 0.06%. (Information provided by Tomás Cobos; edited by Benjamín Mejías Valencia)

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