The Ibex 35 index and European stock markets are turning green to the sounds of central banks.

The main European stock markets recorded growth caused by the actions of the central banks of England, Switzerland and Norway. London added 0.82%; Frankfurt 1.03%; Paris 1.34% and Milan 1.37%. In Spain, the Ibex 35 index rose 0.94% to 11,160.5 points, with most of its values ​​in the green and only three companies closing in the red..

The Spanish market started the day with moderate gains, stabilizing in the morning at around half a percentage point. In the afternoon, boosted by gains on Wall Street after the open, the Ibex 35 index doubled its gains, returning to the 11,100 level lost a week ago.

Among the achievements of the Ibex 35, Grifols (+4.12%), ACS (+2.64%), Merlín (+2.09%), Colonial (+2.06%) and Acciona (+1.97%) stood out. In contrast, Acerinox (-0.3%), Banco Santander (-0.24%) and Aena (-0.05%) closed with losses.

Central Bank Day

This day was marked by decisions by central banks, especially the Bank of England, which kept its rates unchanged. The organization decided to keep the benchmark interest rate for its operations at 5.25%, the highest level since 2008 and unchanged for the seventh straight meeting, although they will not meet again until August. The market is looking for its first decline this month once the scenario marked by the July elections is behind us..

The Swiss National Bank also reduced the official interest rate by 0.25 percentage points, setting it at 1.25%.in the second decline since March. Under the auspices of the central banks, the Swiss National Bank (SNB) decided to cut the official interest rate by 0.25 percentage points to 1.25%, representing a second cut in the price of money. Since March last year, the institution has decided to begin unwinding its restrictive monetary policy.

In its turn, Norwegian bank Norges kept the rate at 4.5% and noted that no reduction is planned yet.. The Bank of England kept its benchmark interest rate at 5.25%, unchanged for the seventh meeting in a row, and will not meet again until August.

Except, The International Monetary Fund has called on the European Central Bank to ease its monetary policy, proposing to cut interest rates to around 2.5% by the end of the third quarter of 2025.based on the prospects for disinflation.

The macroeconomic agenda highlights the improvement in eurozone consumer confidence in June, although the indicator remains negative. In Germany, the producer price index fell 2.2% year on year in May, beating forecasts.

Following trading in Europe, a barrel of Brent oil rose in price by 0.4%, to $85.4, a barrel of Texas oil rose by $81.87, up 0.37%. On the foreign exchange market, the euro fell 0.37% against the dollar. traded at $1.0706, while the 10-year Spanish bond rate closed at 3.294% with a risk premium of 86.4 points.

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