The Ibex-35 will rise again this Friday after the interest rate hike to 1.25%, a decision that directly benefits the financial sector
A day after the European Central Bank (ECB) decided to approve the largest rate hike in the eurozone in its history in one go (0.75 points, bringing the interest rate to 1.25%), stock markets are woke up this friday to new rises. In the case of the Spanish stock market, it appreciated by almost 0.5%, bringing it back to almost 8,000 points, a level it lost xxxxx days ago on fears of a recession.
The day is marked by the meeting of energy ministers of the European Union, who debate the implementation of mandatory targets for reducing electricity consumption or limiting the benefits of renewable and nuclear energy producers (known as ‘from the airborne’ ‘) to counter the rise in energy prices and to guarantee the security of supply to the block during the winter.
In this way, after closing yesterday with an increase of 0.78%, the selective Spaniards opened green again, facing 8,000 integers, mainly driven by the banking sector. The rise in interest rates immediately benefits financial companies, after long decades of negative interest rates.
In the early stages of Friday’s session, the biggest gains were scored by BBVA (+2.34%), ArcelorMittal (+2.18%), Sabadell (1.7%), Santander (+1.11%) and Grifols (+0.8%), while on the other hand were Telefónica (-0.61%), Iberdrola (-0.35%), Endesa (-0.21%), Siemens Gamesa (-0.08%) and Inditex (-0.02%).
The rest of the European stock markets opened with a 0.3% increase in the case of Frankfurt and Paris and 0.7% for London.
Similarly, the price of a barrel of Brent oil, a benchmark for the old continent, was $89, up 0.4%, while the price of Texas was placed at $83, after rising 0.3%.
Finally, the price of the euro against the dollar also benefited from the appreciation in the eurozone, rising to 1.0077 greenbacks in the exchange rate against the dollar, while the risk premium rose to 117 basis points and the yield on the 10 -year Spanish bond amounted to 2.886%.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
