Stock market moves up 1.3% in the week of the ECB rate hike


The Capricorn, which is recovering another 0.5% this Friday, has benefited from banking, although it also blamed the new tax

The Ibex 35 is up 1.33% to 8,051 points, in a week marked by the presentation of corporate results, the rise in interest rates by the European Central Bank (ECB) and the political crisis in Italy.

The increase was 0.49% in this Friday’s session, in which it was announced that eurozone GDP is likely to register a contraction in the third quarter of 2022, after Eurozone private sector activity entered recession territory in July, according to preliminary data from the Composite Purchasing Managers’ Index (PMI), which was the worst in 17 months. Capricorn’s biggest gains in Friday’s session were those of Solaria (+4.9%), Cellnex (+3.77%), Merlin (+3.75%), Colonial (+3.43%), Red Electrica (+3.24%), Acciona Energy Corporation (+2.49%) and Acciona (+2.27%).

On the contrary, the biggest setbacks on Friday’s trading day came from Bankinter (-5.78%), Sabadell (-4.81%), CaixaBank (-3.55%), Fluidra (-2.78%), and Telefónica ( -1.73%. .

Like the Ibex 35, the rest of the major European exchanges closed the trading session in “green” on Friday, with gains of 0.08% in London, 0.25% in Paris, 0.05% in Frankfurt and 0.07% in Milan.

On the other hand, the price of a barrel of Brent oil, a benchmark for the old continent, stood at $105.25, up 1.34%, while Texas stood at $97.53, after rising 1 .2%. The 10-year yield on Spanish government bonds was 2.237%, with a risk premium of 129 points. Finally, the price of the euro against the dollar stood at 1.0217 ‘greenbacks’.

At the start of the week, it was announced that the June CPI for the Eurozone was 8.6% YoY, compared to 8.1% recorded in May, representing the euro’s highest price increase in the region in the entire historic series and more than four times the ECB’s 2% price stability target.

After taking note of the inflation data, the Governing Council of the ECB has decided to raise interest rates by 50 basis points, so that the interest rate for its financing operations will be 0.50%, while the interest deposit will reach 0% and the loan facility will reach 0. .75%. raising all monetary rates.

Source: La Verdad


Please enter your comment!
Please enter your name here

Share post:



More like this