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Saturday, February 4, 2023

The Ibex 35 is up 0.2% on the open and starts for 8,500 points


Archive – Poster near the Madrid Stock Exchange building – Marta Fernández Jara – Europa Press – Archive


The Ibex 35 opened Tuesday’s session up 0.22%, which has allowed the selective price to hold the 8,400 point level to start towards 8,500 integers.

After yesterday chaining its tenth straight rise in its best streak since September 2018, the Madrid index opened today’s session at 8,445 points.

While yesterday’s session was marked by the People’s Bank of China (PBC) decision to unexpectedly cut two of its key benchmarks for lending to the country’s banks, today investors will consider macroeconomic benchmarks such as the UK’s unemployment, the eurozone’s trade balance and the Auction of Spanish treasury bills and certain business results including those of Walmart and Home Depot.

In anticipation of tomorrow’s minutes from the US Federal Reserve’s (Fed) last meeting, the major European markets also woke up to positive gains, with gains of 0.3% in London, 0.2% in Frankfurt and 0.1% in Paris.

Within the Ibex 35, ArcelorMittal (+1.1%), PharmaMar (+0.96%), Rovi (+0.78%), Acerinox (+0.68%) and Repsol (+0.61%) scored. On the other hand, among the few declines at opening, Amadeus, Naturgy and Inditex stood out, returning just over 0.1%.

At the opening of the European markets, the price of a barrel of Brent oil, a reference for the old continent, stood at $94.22, down 0.9%, while Texas was trading at $88.84 after falling 0.6%.

In the forex market, the euro remained around 1.0155 “greenbacks”, while in the bond market the risk premium was around 110 basis points, with the yield on the 10-year Spanish bond at 2,006%.


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Source europapress.es

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