PSOE and Sumar have reached agreement on a new agreement to repeat the coalition government. Among the issues on which understanding has been reached is the issue of extending the bank tax. The tax initially started out as temporary, lasting until 2024 due to banks’ “emergency incentives” through rate hikes. This announcement, which has not yet been published due to the absence of the government, was received with losses by Ibex banks.

Unicaja is the object that drops the most, at 1.7%, although it is not a red lantern of the session, since Endesa gives 2.4%. If we continue with the banks, BBVA 1.36% remained; Sabadell Bank1.1%; Santander Bank falls by 0.77% and Bankinter, 0.7%. In its turn, KaishaBank, which traded higher, reversed and is now down 0.3%.

While companies remain in the red, the Ibex 35 is struggling to regain the 9,000 points it lost in Monday’s session. Selective started higher and above this psychological barrier, but as the session progressed it pared those higher gains and sits just below 8,997.

As for companies Enagás reported a net profit of 258.9 million euros. for the first nine months of the year, representing a fall of 26.7% from the €353.4 million recorded a year ago due to lower capital gains. Without leaving the energy sector, Naturgy has revised upward its estimates for 2023 and forecasts a gross operating result (Ebitda) of more than 5.4 billion euros.

The rest of Europe’s major stock markets also posted positive mid-session gains, with the exception of London, which fell 0.11%. Paris added 0.52%; Frankfurt, 0.24%; and Milan – 0.31%.

Oil remained stable and settled above $90.Brent rose 0.63% to $90.4, and West Texas Intermediate rose 0.5% to $85.9.

On the debt market the yield on Spanish 10-year bonds fell to 3.899%, below the level of 3.967% recorded at the end of Tuesday. The risk premium on German debt therefore rose by a tenth to 109.4 basis points.

In the foreign exchange market, the euro depreciated by 0.35% against the dollar until the exchange rate in the markets is fixed at US$1.0633 for each unit of community currency.