The Ibex 35 fell almost 1.6% at closing and fell to 11,000 points, weighed down by Santander

June 13. () –

The Ibex 35 has continued its decline in today’s session until ending the day with a fall of 1.59% and standing at 11,066.1 integers, weighed down by Banco Santander, which lost more than 4% in the session and then that yesterday he learned of the decision of the US Federal Reserve (Fed) to maintain rates at their highest levels in the last 23 years.

Specifically, the Federal Open Market Committee (FOMC) of the Fed decided yesterday to maintain interest rates for the seventh consecutive meeting in the target range of 5.25% to 5.5%, at highest levels since January 2001.

“Powell’s press conference [presidente de la Fed] “was a splash of cold water, maintaining a cautious tone regarding optimism with the decline in inflation and pointing out that we will only see a rate cut in 2024,” Banca March experts have pointed out in a market report.

For their part, Renta 4 analysts point out that, despite the tightening of the Fed’s ‘dot plot’ from three to a rate cut, the market continues to discount two drops after the “good” inflation data for May in the US , which has shown a moderation from 3.4% in April to 3.3% in May in an interannual rate.

On the other hand, at the beginning of today’s session it was known that the Consumer Price Index (CPI) rose 0.3% in May compared to the previous month and raised its interannual rate three tenths, to 3.6%, its highest level since April 2023, due to the increase in the price of electricity after the increase in VAT on electricity and the fact that fuel prices dropped less than a year before.

Likewise, within Europe’s macroeconomic agenda, this Thursday it was published that the eurozone industrial production index fell 3% in April in an interannual rate, more than what the market expected, while in a monthly rate the fall was limited to 0.1%.

In this context, only Naturgy (+1.06%) and Endesa (+0.16%) have closed positively, while the biggest drop has been that of Santander (-4.33%), followed by Fluidra ( -3.72%), Meliá (-2.55%), Amadeus (-2.49%), Solaria (-2.47%) and Sabadell (-2.47%).

In the rest of Europe, the main indices have closed negative, with falls of 2.18% in Milan, 1.99% in Paris, 1.96% in Frankfurt and 0.63% in London.

In the raw materials market, the price of a barrel of Brent quality oil, a reference for the Old Continent, fell 0.52%, to 82.15 dollars, while Texas stood at 78.01 dollars. 0.61% less.

In the currency market, the price of the euro against the dollar fell 0.50% to 1.0755 ‘greenbacks’, while in the debt market the interest required on the 10-year Spanish bond stood at 3.321 % with the risk premium (the differential with the German bond) at 78 points.