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The Ibex 35 begins the assault to 9,000 points with the Japanese push of the BoJ

Date: May 30, 2024 Time: 19:51:35

The Ibex 35, the Spanish stock market reference, changes gears again this Wednesday on its way to the 9,000 point barrier, a level that has not been seen since the end of 2021. The index rises 0.8, to 8,960 points, taking over from the upward closing of the Asian markets that continue to assess positively the 3% growth data for the Chinese economy and, above all, the expansive message from the Bank of Japan this morning.

The central bank chaired by Haruhiko Kuroda kept its policy unchanged, leaving its negative interest rate at -0.1% and stimuli for the purchase of public debt. In this way, the Bank of Japan is positioning itself against the current of the Fed and the ECB, although both institutions could begin to stop the tightening of their interest rate policies.

“In our opinion, the greatest risk faced in the short term by both the European bond and equity markets is of a technical nature, with many assets presenting very high levels of overbought, which can cause a price elimination at any time, although, in principle, we do not expect the result to be very pronounced,” warn Link Securities analysts.

In this way, after yesterday’s rise of 0.2%, the Ibex 35 extends its rebound on the way to a 10% rise so far in 2023. The rest of the European stock markets opened with bullish behavior with rises of 0.2% for the Dax in Frankfurt, the Cac in Paris and the Ftse in London.

The biggest increases were recorded by IAG (+2.5%), Grifols (+3.4%), Amadeus (+1.82%), Repsol (+2%), Cellnex Telecom (+1.8%) and Aena (+1.4%), while on the opposite side were Acerinox (-0.89%), ArcelorMittal (-0.81%), Solaria (-1%) and Acciona (-0.7%) .

Likewise, the price of a barrel of Brent oil, a reference for the Old Continent, stood at a price of 86 dollars, with a rise of 0.91%, while Texas stood at 81 dollars, with a rise of 1%. Finally, the price of the euro against the dollar stood at 1.0831 ‘greenbacks’, while the Spanish risk premium stood at 96 basis points, with the interest required on the ten-year bond at 3.032%.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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