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The Ibex-35 closes its second week on the rise with an eye on the negotiations

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March 18 (Reuters) – The Ibex-35 closed the day on Friday maintaining the good pace of the beginning of the session, after a conversation between the American and Chinese presidents, including the Russian invasion of Ukraine, took place.

During a nearly 2-hour call in which President Biden was expected to warn his counterpart Xi about the consequences of fanning the flames of the conflict, the president of the Asian country stated that China also did not want to see a continuation of the war, which has affected the world economy.

Beyond the war and the negotiations, two of the most belligerent monetary officials at the Federal Reserve have already opted for the need to take more aggressive measures against inflation, and at a European level, the Mediterranean countries have asked the bloc for common energy policies to make common to the rise in prices of gas and electricity.

Also linked to inflation, Spain and Portugal have declared their willingness to go ahead with the proposed mechanism to curb the rise in energy prices, with or without the support of the EU.

The little progress in the negotiations between Russia and Ukraine put raw materials on the rise again, with oil once again exceeding 100 dollars/barrel. A barrel of Brent crude rose 0.56% while Texas Light Crude, WTI added 1.22%.

Thus, the selective Spanish stock market Ibex-35 closed with a rise of 5.60 points on Friday, and 0.07%, to 8,417.60 points, while the index of large European securities FTSE Eurofirst 300 rose and 0, 90%

In the banking sector, Santander lost 0.65%, BBVA fell 0.23%, Caixabank gave up 0.65%, Sabadell fell 1.10%, and Bankinter dropped 1.31%.

Among the large non-financial values, Telefónica fell back and 0.45%, Inditex gave up and 0.81%, Iberdrola left and 0.57%, Cellnex won and 1.97% and the oil company Repsol lost and 2.38%.

In the weekly context, the Ibex closed achieving its second week on the rise with a rise of 3.4%, after another rise of 5.5% in the previous period.

(Information by José Muñoz, edited by Aida Peláez)

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