The energy companies are recovering the increases after the government eased the terms of the tax on the sector
Saved by the bell. The Ibex-35 takes advantage of Friday’s rebound to salvage a week in which everything pointed to the red. The Spanish squad, which is facing volatility this Friday due to the monthly expiration of futures and options, manages to advance 0.8% and regain 8,100 points.
If it holds that level at the end, the week would eventually end on a positive note, up from the 8,098 points it finished the previous Friday.
Behind the improvement in tone during the last session of the week is the rise in banks and energy companies, particularly favored after the government’s decision to ease the tax that will hit these companies. Finally, all regulated business and income from abroad are excluded from the tax, as the industry has been demanding for weeks.
Against this background, Repsol posted the largest increases (+1.37%), followed by ArcelorMittal (+1.04%), Santander (+0.91%), BBVA (+0.86%), Enagás (+0. 72%) and Iberdrola (+0.69%), while on the other hand Merlin Properties (-1.67%), Meliá Hotels (-0.92%), Grifols (-0.85%) and Amadeus ( -0.61%).
We’ll have to wait for Wall Street to open to confirm the uptrend coming Friday. Especially as the market is still very much aware of recession fears that resurfaced on Thursday, in the words of James Bullard, one of the most restrictive members of the Federal Reserve (Fed), who assured that rate hikes would defeat your objectives. far from getting. .
In fact, he indicated that the ideal is for the rates to be between 5% and 7%. Until now, the market assumed that the peak would be that 5%.
Meanwhile, oil prices in the commodity market recovered positions, albeit timidly. A barrel of Brent, a benchmark in Europe, reached $90, while the US West Texas cost about $82.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
