The selective rises 1.23% with investors waiting for new Eurozone inflation data
Investors start the week with renewed optimism and strong gains for the main European parquet floors, before knowing new references on the evolution of inflation in the Eurozone, with the publication of the preliminary CPI in countries such as Spain, France, Germany and, already on Thursday, across the region.
The Ibex-35 ended the day up 1.23% to 9,314 points, close to the highest of the year.
The most powerful advancement came from Fluidra, which surged nearly 7% after announcing it earned €160 million in 2022. The figure is 36.6% lower than last year, but sales improved by 9%, which seems to have convinced investors.
With Acciona Energía and Cellnex the only negatives, other big stocks supported the gains, with Meliá up 3.33% at the close and Inditex up 2.73%. The banks also joined the purchases and BBVA and Santander rose by more than 2%.
Investors are thus regaining some of the confidence lost in recent weeks, with fears that central banks will eventually raise rates and keep them higher for longer in light of some macroeconomic data strongly returning. than expected.
In fact, voices are mounting to suggest that the US Fed will not cut rates this year to keep inflation under control, raising fears of a sudden slowdown in major economies that will avoid a recession . At the moment, this week is the focus with the publication of the price reference in the euro zone.
The vision of high interest rates for a longer period of time has also stimulated bond sales in debt markets, pushing prices down and yields (which move in reverse) to rise. Specifically, the yield on the ten-year Spanish bond is already moving at 3.67%, very close to the previous peak of last December at 3.657%.
Meanwhile, in the commodities market, the price of a barrel of Brent grade Brent, a reference for the Old Continent, remained stable at $83.03, the same as Texas, stable at around $76.30.
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.
