MADRID, 13 Feb. (EUROPA PRESS) –
The Ibex 35 closed this Tuesday with a fall of 0.59%, reaching 9,925.4 points, in a day marked by inflation in the United States in January, which fell three tenths, to 3.1%, while the underlying has remained unchanged at 3.9%.
Both data have been worse than expected by the market, since the consensus forecast a cut of five tenths for general inflation and another two for core inflation.
The Spanish selective traded without major variations compared to yesterday’s close until the data from the United States was known, at which time the index, just like its European and American counterparts – whose indices lost 1% at closing time in Europe -, he opted by decision for the losses due to the derivatives that this macroeconomic reference may have on monetary policy.
The manager Federated Hermes has indicated in an afternoon statement that these inflationary data “will further lengthen the calendar for the first rate cut.”
On the other hand, the Public Treasury has placed 2,036.27 million euros in three- and nine-month bills this Tuesday, in the middle band of its objectives, and has done so at higher rates in both references and with a demand that has tripled what was finally awarded.
Regarding the international panorama, pessimism among homebuilders in Germany reached a level never seen before at the start of 2024, according to the latest survey carried out by the Munich Institute for Economic Research (Ifo).
For its part, the increase in salaries in the United Kingdom during the final quarter of 2023 moderated to 6.2% annually, excluding bonuses, compared to the annual increase of 6.7% between the months of September and November, although the The observed increase exceeded the market consensus expectation of 6%, which reinforces the Bank of England’s position of waiting before undertaking its first rate cut after the recent cycle of increases.
In this context, marked by this fear of higher interest rates for a longer period of time, financial institutions have lavished themselves on the small group of eight securities that have closed with advances: Banco Sabadell has added 3.06%; Caixabank 2.68% and Bankinter 1.33%.
On the other hand, on the decline side, Solaria Energía (-4.51%), ArcelorMittal (-4.32%), Cellnex (-3.33%), Acciona Energía (-2.89%) have been especially penalized. ), Colonial (-2.59%), Mélia Hotels (-2.59%) and Grifols (-2.53%).
The rest of the European markets have also seen declines after the US benchmark: London has lost 0.81%; Paris 0.84%; Frankfurt 0.94% and Milan 1.03%,
These declines have occurred in a context in which the Nikkei, the benchmark index for the Japanese markets, closed this Tuesday’s session with a rise of 2.89%, to its best level since January 1980, boosted by the rebound in technology and the weakness of the yen.
At closing time in the Old Continent, a barrel of Brent was trading at $82.78, up 0.95%, while West Texas Intermediate (WTI) reached $77.88, up 1.25%. further.
In the debt market, the yield on the Spanish bond with a 10-year maturity has closed at 3.333% after adding almost two basis points. In this way, the risk premium against German debt was 94 points.
For its part, the euro weakened by 0.5% against the dollar, trading at an exchange rate of 1.0717 ‘greenbacks’ for each unit of the community currency.
The prospect of high rates has affected other assets such as the troy ounce of gold, which lost more than 1% of its value and dropped below $2,000 for the first time since mid-December, and bitcoin, which It recorded a 2.7% correction that made it lose the level of $50,000 that it reached yesterday for the first time since December 2021.
