The ECB points to a minimal rate hike at the end of the month, giving the market a boost after the declines registered at the start of the week
The stock traded again at 8,100 points in this Thursday’s session, after rising 2.19%, in a day without major macroeconomic references. The Ibex-35 finished the session at 8,122 points. The largest increases were presented by Arcelormittal (+5.42%), Indra (+5.2%), CaixaBank (+5.16%), Repsol (+4.83%), Solaria (+4.74%) and Acerinox (+4.7%), while only Enagás (-0.99%) and Cellnex (-0.05%) recorded declines.
The context continues to be characterized by high inflation, central bank decisions (the Fed minutes released last night point to a higher rate hike than approved so far if necessary), fears of an economic slowdown and the war between Russia and Ukraine. But after Tuesday’s crash, the day the price fell 2.5%, the Spanish stock market has gradually recovered during the week.
Much of this good evolution came after the Governing Council of the European Central Bank (ECB) agreed at its monetary policy meeting in June to announce a 25 basis point rate hike in July, although talks leading up to the consensus eventually According to the summary of the meeting, published this Thursday, several members were in favor of avoiding a pre-commitment and thus leaving the door open for a higher intensity.
The rest of European exchanges also closed the trading session with gains, rising to 1.14% in London, 1.6% in Paris, 1.97% in Frankfurt and 2.19% in Milan.
Also on Thursday, the Treasury placed 5,200 million euros in a new government bond auction, with demand exceeding the amount allotted, although all interest rates were already positive.
On the other hand, the price of a barrel of Brent oil, a benchmark for the old continent, was quoted at USD 106.19, up 5%.
In Indra’s case, its shares advanced 5% following the announcement that the appointment of the new independent directors will be formalized at an extraordinary shareholders’ meeting last week. The company has hired a specialist company to recruit these independent directors, taking into account gender equality criteria.
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.
