MADRID, Nov. 17 (-) –
The Ibex 35 closed this Friday at 9,761.4 points, which represents reaching its maximum since February 21, 2020, when it closed at 9,886.2 points, already slightly impacted at that time by the Covid crisis. 19.
In this way, the selective has revalued by 4.15% in the week and has managed to obtain a ‘full’ of increases in the heat of the inflation data in the United States and the eurozone, which reduces the tension of the markets regarding to a new increase in interest rates by central banks before the end of the year. In this Friday’s session, the index has advanced 0.97%.
Investors learned today that the euro zone’s annual inflation rate moderated last October to 2.9%, its lowest reading since July 2021, compared to the 4.3% price rise recorded. in September.
This slowdown in price increases occurs after last Tuesday, the United States reported a price increase of 3.2% in the tenth month of the year, five tenths less than the previous month and a better than expected figure. .
This could give clues that both the European Central Bank (ECB) and the United States Federal Reserve (Fed) could pause for a longer period the monetary tightening that they have been carrying out for months.
In fact, on Thursday, the president of the Federal Reserve Bank of Cleveland, Loretta Mester, advanced that monetary policy is “in a very good place” at this time, although she warned that she needed “more evidence” that inflation was on its way to reaching the 2% target.
Next week, investors will be awaiting the publication of the manufacturing PMIs in Europe and the US, the Ifo business survey in Germany and the minutes of the last Fed meeting, held on November 1, among other references.
In today’s session, the biggest increases in the Ibex 35 have been recorded by Rovi (+3.48%), Merlin (+3.05%), Endesa (+2.40%), ArcelorMittal (+2.12% ), Logista (+2.02%) and Colonial (+1.90%). On the other hand, only Acciona (-2.23%), Acciona Energía (-2.23%), Cellnex (-1.06%), Grifols (-0.39%), Unicaja (-0 .30%) and Redeia (-0.07%).
Optimism in the markets has been generalized for all the main European stock indices. The British FTSE 100 has advanced 1.26%; the French CAC 40, 1.91%; the German DAX, 0.84%; and the Italian FTSE MIB, 0.82%.
In the raw materials market, Brent was trading at $80.02, up 3.37%, while West Texas Intermediate (WTI) advanced 3.25%, to $75.27.
In the debt market, the yield on the Spanish bond with a 10-year maturity stood at around 3.589%, compared to the 3.591% observed at the close of Thursday. In this way, the risk premium against German debt stood at 99.8 basis points.
In the foreign exchange market, the euro appreciated 0.26% against the dollar, reaching an exchange rate of 1.0881 dollars for each unit of the community currency.