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The Spanish Stock Exchange maintains gains of 1.70% pending the Fed

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Madrid, March 16 (EFE) .- The Spanish Stock Exchange maintains gains of 1.70% in the first bars of this Wednesday, and is trading above 8,300 points, waiting to know the monetary policy decisions of the Federal Reserve from USA (Fed) which, predictably, will raise rates for the first time since 2018.

In a session at the end of the day, the plan used by the protagonist of Inditex, the results presented, the IBEX 35, the main selective in Spain, obtained a score of 8,375.30 points. Losses for the year are reduced to 3.90%.

The Spanish stock market opts for the increases after a positive closing yesterday on Wall Street and the strong rebound that the Chinese stock markets have registered this Wednesday after the crashes they suffered on Monday and Tuesday due to the increase in coronavirus infections, the closure of some big cities, and the punishment of the technological ones.

At the close of Today, the Hang Seng has soared 9%, and Shanghai, 3.88%, in a day of strong rebound of the main technology stocks.

The Tokyo Nikkei is also closed on the rise, 1.64%.

Without losing sight of the war in Ukraine, and the possibility of Russia going into default, the market’s attention will be on the Fed meeting, which is expected to carry out its first rate hike since 2018, in a context of rising inflation.

Although the decisions of the Fed will be known with the European market already closed, the stock markets of the Old Continent have opened an increase: Paris and Milan add 2.43%; Frankfurt, 2.05%, and London, 1.43%.

With the euro at $1.09, Brent, Europe’s benchmark crude oil, advanced after two sessions in which it fell sharply. At the opening of the session, it adds 3% and recovers 100 dollars a barrel (102.6 dollars).

In the Spanish market, the protagonist of the day is Inditex, after announcing that it earned 3,243 million euros in 2021, almost triple that of 2020 (193% more) and was only 11% below the earnings record that scored before the pandemic.

The shares of the most capitalized company on the national stock market are below 1.78%.

ArcelorMittal is the value that earns the most, 3.45%, followed by Rovi, 3.38%, and Meliá Hotels, 3.04%.

BBVA also advances 3.31%; Santander, 2.30%; Telefónica, Iberdrola, 0.85%, and Repsol, 0.40%.

At this time, all the IBEX 35 values ​​are trading positive.

Within the Spanish market, mediaset is the one that falls the most, 8.5%, after the Italian audiovisual group Media For Europe (MFE), controlled by the Berlusconi family, has launched a voluntary takeover bid (OPA) of shares for 44.31% of the share capital of its Spanish subsidiary.

Berkeley, on the other hand, which appreciates the most, 6.09%.

In the debt market, the return on the ten-year Spanish bond rose to 1.37%, with the risk premium at 98 basis points.

c) EFE Agency

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