MADRID, 10 Jun. (EUROPA PRESS) –
The Ibex 35 has fallen 3.68% this Friday, thus deepening the weekly fall to 3.8%, which represents its greatest decrease since the beginning of March, after the meeting on Thursday of the European Central Bank (ECB), where it was confirmed the start of a monetary tightening progress from July.
In addition, this Friday the inflation data in the United States was published, corresponding to the month of May, when there was an increase of 8.6% in the year-on-year rate of prices, exceeding market forecasts and reaching maximums for 40 years. years. This figure suggests that the inflation ceiling has not yet been reached, since in April it stood at 8.3%.
“The main issues for markets continue to be high commodity prices, supply chain issues and war-induced disruptions. All of these variables are generating inflation pressures, forcing central banks to Investors’ concerns focus, on the one hand, on whether we have seen the highest in inflation and, on the other, whether the economy will be able to withstand rate hikes without entering a recession,” says the Bankinter analyst, Joaquin Robles.
On the other hand, Robles highlights the news that Sacyr and Acciona Renovables will enter the Ibex 35 on June 20, replacing CIE Automotive and Almirall, as well as the presentation of results by Inditex, which recorded an increase in sales of the 36% in the first quarter of the year, as well as an increase of 55.2% in profit, to 1,750 million euros.
In raw materials, oil prices have exceeded 120 dollars and are close to the highs of last March due to the increase in demand from China and the lower supply from Russia. “The rest of the producers are not being able to compensate for the drop in Russian production, so prices could remain high for longer than expected,” says Robles.
Next week will be marked by the meeting of the United States Federal Reserve (Fed), where a rise of 50 basis points is expected. The Bank of England will also meet, which could announce further rate hikes.
Looking at the macro, investors will be watching US retail sales and building permits, the ZEW index of investor confidence in Germany and industrial production in China.
As for the session this Friday, the Ibex 35 has closed the day with all its values ??in negative, and a fall of 3.68%, standing at 8,390.6 integers. BBVA has been the ‘red lantern’, with a decrease of 9.13%, followed by CaixaBank (-7.12%), Banco Santander (-7.09%), Bankinter (-6.74%), Sabadell ( -6.53%) and Meliá (-5.85%).
Among today’s references, in addition to the inflation data in the United States, in Spain, the INE has confirmed that the CPI rose 0.8% in May in relation to the previous month and increased its interannual rate four tenths, to 8, 7%, due to higher gasoline, restaurant and food prices. In China, the CPI stood at 2.1% in May at the interannual rate, in line with the rise in prices during the month of April.
The rest of the European stock markets have also closed with falls, 2.12% in London, 2.69% in Paris, 3.08% in Frankfurt and 5.17% in Milan.
The price of a barrel of Brent crude, a reference for Europe, stood at 120.83 dollars, with a decrease of 1.80%, while a barrel of WTI oil, a reference for the US, fell by 1, 71%, to $119.41.
Finally, the price of the euro against the dollar stood at 1.0521 ‘greenbacks’, while the Spanish risk premium reached 123 basis points, with the interest required on the ten-year bond at 2.768%.
