The Ibex 35 closes with a rise of 0.26% after the ECB minutes

July 13 () –

The Ibex 35 has closed this Thursday its fourth consecutive session in green with a rise of 0.26%, reaching 9,478.7 points, after publishing the minutes of the last monetary policy meeting of the European Central Bank (ECB) – in which interest rates were raised to 4% – and for which it is ruled out that inflationary pressures have still reached a turning point.

The selective started to rise and briefly traded above 9,500 integers after learning that industrial production in the euro area in May fell more than expected in the interannual rate; however, although it remained around that level for a good part of the session, it moderated the advances strongly due to the downward trend on Wall Street (its main indicator, the Dow Jones, rose 0.1% but threatened to drop). going over to losses at closing time in Europe).

On the macroeconomic agenda of the United States, after knowing the decline in the CPI to 3% in June the day before, this Thursday the producer price index (PPI) had moderated more than expected, although weekly unemployment claims have fallen , when a slight increase was expected, which reveals the strength of the labor market.

Also yesterday, but with the European market already closed, the Beige Book of the Federal Reserve (Fed) was published, a document that provides an evaluation of the economy detailed by the 12 regional central banks of the country. This report shows that the US economy grew “slightly” from the end of May, so the x-ray is somewhat better than that obtained in the previous report, when it was indicated that the economy was stagnant.

As for other central banks, it is worth noting a further 25 basis point rate hike by the Central Bank of Canada, which has raised rates to 5%, their highest level in 22 years.

Renta 4 analysts have highlighted a new recalibration of the US Nasdaq index with the aim of reducing the weight that large technology companies have in their calculation. “The five main companies in the index (Apple, Microsoft, Alphabet, Amazon and Nvidia) will come to represent 38% of the index, from 43% previously. It would be the third rebalancing in the history of the Nasdaq 100,” the experts have pointed out.

Within the Ibex 35, the rises of Solaria (+2.4%), Cellnex (+1.71%), Naturgy (+1.67%), Acciona Energía (+1.63%) and Fluidra (+1 ,3%). On the contrary, the most notable falls have been registered by Aena (-1.13%), Meliá Hotels (-0.91%), Ferrovial (-0.83%), Logista (-0.72%) and ACS (-0.6%).

The rest of the European markets have also finished with advances: London has added 0.32%; Paris 0.5%; Frankfurt 0.74% and Milan 0.78%.

In the raw materials market, the price of a barrel of Brent rose 0.55% at the end of the session, up to 80.55 dollars, while the West Texas Intermediate (WTI) grew to 76.13 dollars, a 0 .49% more.

In the debt market, the yield of the Spanish bond with a maturity of 10 years has closed at 3.486% after subtracting almost ten basic points, while the risk premium (the differential with the German bond) remained at 101.7 points .

The euro advanced 0.66% compared to the “green ticket in the currency market, at $1.12, the highest since the end of February 2022, just before the Fed began the cycle of monetary tightening, to which it would join the ECB four months later, to tackle high inflation.