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Monday, June 27, 2022

The Ibex 35 closes up 1.72% as Wall Street is closed for a holiday

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The Ibex 35 ended Monday’s session up 1.72%, leading to it on a day marked by the absence of activity on Wall Street and the appearance of the President of the European Central , at 8,286 whole numbers, Bank (ECB), Christine Lagarde, closed in the European Parliament.

In particular, Lagarde warned today that, alongside energy prices, price hikes are also widespread in the eurozone across all sectors, noting that wage growth “has started to pick up” and that this increase is expected to accelerate as the year progresses due to bottlenecks in the labor market, rising minimum wages and the opposing effects of high inflation rates.

This week will also continue to be characterized by growth prospects and comments from central bank governors, as well as the release of macroeconomic data such as US home sales data, industrial production and the IFO index of business confidence in Germany, for which a sharp decline will occur following ECB-induced volatility and the new energy price increases are expected.

Renta 4 analysts highlight as the week’s top reference the speeches by United States Federal Reserve (Fed) President Jerome Powell to Congress on Wednesday and the Senate on Thursday.

It should be noted that Acciona Energía and Sacyr made the jump to the Ibex 35 this Monday, replacing CIE Automotive and Almirall, which will be listed according to the changes to the Ibex Medium Cap announced by the Ibex Technical Advisory Committee on June 9th. Acciona ended the session up 2.08%, while Sacyr ended up 1.51%.

In this context, IAG (+6.79%), Banco Sabadell (+4.75%), Meliá (+3.82%), Solaria (+3.79%), Bankinter (+3.64%), Banco Santander (+3.63%), CaixaBank (+3.61%), Grifols (+3.35%) and Telefónica (+3.05%). On the other hand, Cellenex (-1.19%), ArcelorMittal (-0.85%), Merlin Properties (-0.82%), Ferrovial (-0.81%) and Fluidra (-0.81%) all closed lower of 0.66%).

The rest of Europe’s equity markets also closed higher, up 1.50% in London, 0.64% in Paris, 1.06% in Frankfurt and 0.99% in Milan. It should be noted that yesterday France held the second round of parliamentary elections, in which Emmanuele Macron’s coalition lost an absolute majority.

On the other hand, the price of a barrel of Brent oil, a reference for the old continent, stood at $113.88, up 0.72%, while Texas stood at $110.07 after it was up 0.47%. .

Finally, the euro traded at 1.0536 “greenbacks” against the dollar, while the Spanish risk premium was 110 basis points, with the interest required on the 10-year bond amounting to 2.775%.

Source europapress.es

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