MADRID, 26 May. (EUROPA PRESS) –
The Ibex 35 was trading with an advance of 0.88% in the middle session this Thursday, so that it reached the level of 8,800 integers, in a session marked by the publication yesterday of the minutes of the Federal Reserve (Fed) of United States and the first revision of the GDP data in the American country.
The minutes of the last meeting of the Fed, held on May 4, show that the majority of the central bankers that make up the US body are in favor of raising interest rates by 50 basis points in the meetings of the organization that will take place in July and July.
Renta 4 analysts interpret these minutes with a “less ‘hawkish’ or aggressive tone, regarding the rate hike, since the possibility of applying increases of 75 basis points in the next two meetings would be removed. “From there, it will be the evolution of inflation -if it finds its ceiling and depending on the rate of moderation in prices- what determines whether interest rates in the US rise only to a neutral level, around the 2.5%, or above, moving from a neutral to a restrictive monetary policy.”
In the event of a greater tightening of monetary policy, “the risks to growth would increase and could translate, later, into a need to have to lower interest rates again,” the experts add.
In addition, investors will be attentive today to the first revision of the data on the GDP of the United States in the second quarter, after the preliminary figure registered a fall of 1.4% in the American economy. The consensus expects an upward revision, to place the contraction at 1.3%.
In this context, the Ibex 35 was looking for its fifth consecutive rise, trading at 8,837.4 integers, bordering on 2022 highs, registered on February 10, when the Madrid selective closed at 8,886.2 integers.
Almost all stocks on the Ibex 35 traded positively in the mid-session, led by Inditex (2.67%), ahead of analysts’ expectations that it will break its profit record despite Russia. They are followed by Banco Sabadell (2.44%), Cellnex (2.11%), Meliá (1.95%), Acciona (1.77%), Aena (1.76%); Naturgy (1.53%) and ACS (1.47%). On the opposite side were only Bankinter (-0.44%) and Repsol (-0.30%).
The rest of the main stock markets of the Old Continent also traded with advances, including a rise of 0.60% in the Frankfurt Dax and 0.68% in the Paris Cac 40, while the London Ftse100 rose 0.11%. and the Ftse Mib of Milan rose 0.29%.
The price of a barrel of Brent crude oil, a reference for Europe, stood at 114.92 dollars, with an increase of 0.28%, while a barrel of WTI oil, a reference for the US, rose 0. 95%, up to $111.38.
Finally, the price of the euro against the dollar stood at 1.0712 ‘greenbacks’, while the Spanish risk premium stood at 109 basis points, with the interest required on the ten-year bond at 2.009%.