Adding a new positive day, the Ibex 35 has already chained seven sessions in “green” after learning this Wednesday that the CPI in the United States fell to 8.5% last July, which could indicate it that inflation would have already peaked in North American country.

In particular, the selective Spaniards ended the session up 0.49%, consolidating at the 8,300 wholes level reached yesterday after the release that the annual inflation rate in the United States was at 8.5%. six tenths below the 9.1% observed in June and the lowest price increase since last April. For its part, the core inflation rate was 5.9%, unchanged from the previous month.

Inflation and employment are the main indicators that the United States Federal Reserve (Fed) uses to make monetary policy decisions. After last Friday’s payrolls data showed a rise of 528,000 jobs in the US economy, double the market consensus expectations, investors awaited inflation data this week to anticipate central bank action to follow.

Data released today, which are lower than those recorded in June, would be a sign that inflation in the US economy may have peaked, which in turn could mean some easing in the pace of rate hikes marked by the fed

Both the Ibex 35 and the rest of European equity markets traded erratically this morning ahead of the inflation data that defined the rises in most selective markets. Specifically, the Ftse 100 in London ended the session up 0.25%, the Cac 40 in Paris up 0.52%, the Dax in Frankfurt up 1.23% and the Ftse Mib in Milan with an increase of 0.95%.

In the United States, the Dow Jones was up 1.5%, the S&P500 was up 2.0% and the Nasdaq was up 2.6% at the close in Spain.

Also released Wednesday, inflation data for China came in at 2.7%y/y in July, up two-tenths from June’s price rise and a two-year high. In Germany, according to analysts at Renta 4, the CPI was 7.5% year-on-year, which is in line with expectations.

Further in Germany, Finance Minister Christian Lindner has announced a package of fiscal measures worth up to 10,000 million euros to offset the impact of high inflation on citizens’ purchasing power, including tax cuts and an increase in family allowances.

Coming back to the Ibex 35, the biggest gains were from Colonial (+3.64%), ArcelorMittal (+3.02%), Amadeus (+2.79%), Merlin Properties (+2.44%), Acerinox (+ 2.38%) and Inditex (+2.35%), Banco Santander (+2.29%) and Indra (+2.24%).

On the other hand, Grifols (-2.00%), Solaria (-1.64%), Bankinter (-1.36%), Telefónica (-1.32%), Red Eléctrica (-1.31%), Repsol (-1.29%) and CaixaBank (-1.28%) recorded the heaviest falls.

Likewise, the price of a barrel of Brent quality oil, a benchmark for the old continent, stood at $95.56, down 0.76%, while Texas stood at $89.85, after falling 0.72% was.

Finally, the euro reached 1.0331 “greenbacks” against the dollar, while the risk premium was 110 basis points and the yield on the 10-year Spanish bond was fixed at 1.986%.

Source europapress.es

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