Ibex 35 launches mid-session for 10,100 pips from Inditex and bank

MADRID (EP). The Ibex 35 index traded 0.52% higher at mid-session, taking it to 10,090.4 whole numbers., on the day when investors will expect the publication of the minutes of the latest meeting of the US Federal Reserve System (FRS). As a result, Renta 4 analysts expect the Fed to repeat its talk of keeping rates high for longer to give the market “greater confidence” in keeping inflation under control.

Actually, indicate that market expectations for the Fed’s rate path have moderated, with investors now expecting four cuts instead of the seven they expected at the start of 2024.and a delay in the timing of cuts, which is more likely from June. A similar situation occurs with the European Central Bank (ECB). The market also lowered its expectations, reducing the decline from seven to six to four, which would begin in June rather than in the spring. Renta 4 experts also note a rise in Chinese indices after the government took new measures to stabilize the market, such as approving new loans for developers or curbs on bearish funds.

Grifols became a red light mid-session with a 0.91% decline. Repsol (-0.81%), Indra (-0.69%), Meliá (-0.59%) and Redeia (-0.36%) were ahead. On the other hand, the largest growth was demonstrated by Solaria (+1.86%), BBVA (+1.58%), Colonial (+1.36%), Aena (+1.26%) and Inditex (+1%). Major European stock markets also traded higher, up 0.86% in Milan, 0.42% in Frankfurt and 0.31% in Paris. London alone fell 0.82%.

On the raw materials market The price of a barrel of Brent crude, the Old Continent’s benchmark, fell 0.51% to 81.92 euros.and in Texas – 76.61 euros, down 0.56%.

In the foreign exchange market, the price of the euro against the dollar rose to US$1.0800, while in the debt market the required interest rate on 10-year Spanish bonds rose to 3.282% and The risk premium was 90.7 basis points.