MADRID, 14 Dic. (EUROPA PRESS) –
The Ibex 35 maintained the 1.2% increase it registered at the opening in the mid-session, which took it to 10,221.5 points, after the decision of the US Federal Reserve (Fed) to maintain rates and waiting for this year’s last meeting of the Governing Council of the European Central Bank (ECB).
Specifically, the market expects the ‘guardian of the euro’ to keep interest rates unchanged, but to try to lower expectations of an upcoming rate cut, something that, despite the good progress of the disinflationary process, is not possible. would produce before June 2024, according to analysts consulted by Europa Press.
During this day, the meetings of the Bank of England, the Swiss National Bank and the Bank of Norway will also be held, and all this after the United States Federal Reserve (Fed) has decided to maintain interest rates in the target range of between 5.25% and 5.5%, maximums since January 2001.
In this regard, Renta 4 analysts also highlight the revision of the ‘dot plot’ slightly downwards, increasing the number of decreases expected in 2024 from two to three, “less than what the market discounted.” However, investors interpreted the speech by Fed President Jerome Powell “in a ‘dovish’ way”, since they are already discounting that rates have peaked and that there will be six or seven cuts in the next year, which would begin in March. .
This context has especially impacted the financial sector today, which is responsible for the few falls that were recorded in the mid-session: in the ‘red’ were Sabadell (-4.49%), Bankinter (-2.91%), CaixaBank (- 2.55%), Indra (-0.71%), Mapfre (-0.61%), Unicaja Banco (-0.32%) and Enagás (-0.03%).
On the other hand, Acciona Energía led the increases, with a revaluation of 7.84%, followed by Fluidra (7.80%), Solaria (5.59%), Colonial (5.55%), Acciona (5. 02%) and Merlin (5.01%).
Under the Spanish macroeconomic umbrella, the Consumer Price Index (CPI) was published first thing in the morning, which fell 0.3% in November compared to the previous month and cut its interannual rate by three tenths, to 3.2%. due to the cheaper fuel, tourist packages and food, which moderated its growth by half a point, to 9%.
The main European stock markets were also trading with a positive sign: specifically, London rose 2.24%; Paris, 1.46%; Frankfurt, 0.88%, and Milan, 0.66%.
In the raw materials market, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 1.82%, to 75.61 dollars, while Texas stood at 70.70 dollars, a 1.77% more.
In the currency market, the price of the euro against the dollar stood at 1.0916 ‘greenbacks’, while the Spanish risk premium was around 97 basis points, with the interest required on the 10-year bond at 3.048%.
