The Stock Exchange beats 7,600 points at the start of the ECB week

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Manager Pimco expects the monetary institution to raise interest rates by 75 basis points at its meeting next Thursday

The European stock markets open a week full of references with convincing increases. The Ibex-35 is up more than 1% to more than 7,600 points, with most of its values ​​positive, led by Solaria and Acciona Energía, rising more than 3%.

Banks also lead the way, with increases of more than 2% for BBVA and Santander. The sector will be the absolute protagonist of the week.

Firstly, by presenting the quarterly results of the major entities, which will, among other things, provide new indications about the impact of the crisis on their business. Secondly, by the meeting of the European Central Bank (ECB), in which the market has long expected a new interest rate hike.

There are even big managers like Pimco who expect the increase to reach another 75 basis points, before closing the year with another 50 basis points in December. “The ECB continues to put the fight against inflation above growth problems,” they say from the company.

However, this move already seems undervalued by the market and unless Christine Lagarde is much more aggressive in the press conference after Thursday’s meeting, experts do not expect a strong overreaction from investors.

The meeting of the monetary organization, the avalanche of corporate results (with a special role of technology companies on Wall Street) and the wave of macroeconomic references (with data on GDP, inflation and the labor market in Spain) anticipate some eventful days for investors.

So the experts are calling for caution and indicating that after the latest rising sessions, any excuse can be a good excuse to take profits in the market.

Source: La Verdad

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