11 Jul. () –
The Ibex 35 closed Thursday’s session up 0.89% to 11,170 points, accelerating its momentum after the US inflation data was released.
Specifically, the US consumer price index (CPI) stood at 3% year-on-year in June, three-tenths less than in March and one-tenth less than the market expected.
The underlying index, which excludes food and energy prices from its calculation due to their greater volatility, closed the sixth month of 2024 with an increase of 3.3%, one tenth less than the previous month and its lowest mark since April 2021.
The inflation data came after the president of the United States Federal Reserve (Fed), Jerome Powell, explained on Wednesday before the Finance Committee of the House of Representatives that he has “some confidence” that inflation is heading towards 2%, but he has called for more positive data to provide him with the necessary security before lowering interest rates.
In Europe, the UK economy grew by 0.4% in May compared with the previous month, when it had stagnated, while GDP increased by 1.4% compared with May last year, according to data published by the Office for National Statistics (ONS).
German inflation has been confirmed to have stood at 2.2% year-on-year in June.
In this context, Cellnex has been the main value of the selective, advancing 5.31%. Behind it were Acciona Energías Renovables (+3.01%), Fluidra (+2.94%), Ferrovial (+2.47%), Logista (+2.17%), Colonial (+2.11%), Acciona (+1.79%), and Endesa (+1.75%).
Among the main decliners on Thursday were Repsol (-1.89%), Grifols (-0.94%), Banco Santander (-0.78%), Unicaja (-0.46%) and Bankinter (-0.40%).
The positive trend has not been exclusive to the Ibex, but also to the rest of the main European stock markets. London has risen by 0.41%; Paris, by 0.77%; Frankfurt, by 0.72%; and Milan, by 0.11%.
In the commodities market, the price of a barrel of Brent crude oil rose by 0.43% at the close of the European trading session, to $85.43, while West Texas Intermediate (WTI) crude oil reached $82.52, up 0.51%.
In the debt market, the yield on the 10-year Spanish bond closed the day at 3.234%, compared to 3.296% at the close on Wednesday, with a sharp drop after the US inflation data was released. The risk premium thus rose by half a point to 76.8 basis points.
At the close of the European session, the euro was trading at a 0.34% appreciation against the dollar, trading at an exchange rate of 1.0867 greenbacks per euro. Like the Spanish bond, the common currency has appreciated strongly following the US inflation data.
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