The Ibex 35 index rose 0.38% after the ECB meeting, helped by Bankinter and Telefónica.
VALENCIA (EP). The Ibex 35 index closed up 0.38% on Thursday, reaching 11,147.5 points.on a day that marked the start of the Spanish results season led by Bankinter and the European Central Bank’s (ECB) monetary policy meeting, which kept rates unchanged.
The Spanish selective market started the day with a steady and growing upward trend, driven by values such as Bankinter and Telefónica, which allowed it to surpass the 11,200 level with a rise of 1%, but the positive tone was reduced in strength at the end of the session and lost this level due to contagion from Wall Street, whose indices fell this afternoon.
Going into the details of the day, Bankinter reported this Thursday that it had made a net profit of 473.5 million euros in the first half of the year, up 13.3% on the same period last year; the bank therefore led the growth of the benchmark Spanish index with a rise of 4.7%.
For its part, the European Central Bank (ECB) has decided to keep interest rates unchanged after cutting them last month, so that the base rate for its refinancing operations will now remain at 4.25%, the deposit rate at 3.75%, and the lending rate at 4.50%.
President of the “Guardian of the Euro”, Christine Lagardestressed at a press conference after the meeting the dependence on these data of future decisions by the institution, which will not meet again to discuss the eurozone’s monetary policy until September.
Creand Asset Management investment director Miguel Angel Rico said “stock markets reacted very timidly because the meeting was expected to be a formality.”
Market analysts consulted Europe PressHow Konstantin Veit (Pimko) or Dave Chappelle (Columbia Threadneedle) predicts the ECB will cut rates again at its September meeting, a date that saw the market in recent days begin the first rate cut by its US counterpart, the Federal Reserve (Fed).
The Deputy Governor of the Bank of Spain was present at the meeting. Margarita Delgadobecause the government has not yet announced who will be the successor Pablo Hernandez de Cosand the Minister of Economy Carlos Bodiclaims that there is “no news” on the matter and that negotiations are ongoing with the People’s Party to appoint a successor to the post.
On this matter, the Vice President of the European Central Bank (ECB) Luis de Guindosexpressed the desire that the Bank of Spain appoint a new governor at the institution’s next Governing Council meeting in September.
Also Public treasure issued a total of 6.447 million euros in medium- and long-term debt this Thursday, in its last auction of July, and did so at lower rates than in previous issues, according to data published by the Bank of Spain.
Given this situation, in Ibex 35, Bankinter was the main bullish reading, rising 4.7%, followed by telephone (+2.87%), Enagas (+2.83%), Action (+2.75%), Unicaja (+1.65%), KaishaBank (+1.42%), BBVA (+1.32%) and Bank Sabadell (+1.17%).
At the opposite extreme, they identified Fluidra (-5.62%), Amadeus (-1.6%), rovi (-1.05%), Colonial (-0.93%), Ena (-0.78%) and Repsol (-0.6%).
Most European locations made progress during the day: London And Paris added 0.21% each, while Milan increased by 0.43%. Exception noted Frankfurt decreasing by 0.45%.
He Brent barrel At the close of trading on the Old Continent, the price rose by 0.13% to $85.2, while the price of West Texas Intermediate (WTI) oil reached $83, increasing by 0.2%.
In that debt marketSpanish 10-year bond yields closed at 3.206% after adding two basis points, with the risk premium over German bunds at 77.8 basis points.
In that currency marketThe euro depreciated by 0.25% against the dollar, reaching an exchange rate of 1.0912 dollars for every euro.