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The Ibex 35 maintains its bearish tone and puts 9,400 at risk before the ECB meeting

Date: June 22, 2024 Time: 09:38:49

Profit-taking is imposed on the stock markets. The meeting of the European Central Bank (ECB) this Thursday, about which there is great uncertainty about whether it will announce a pause in rates after nine consecutive increases or maintain its monetary tightening strategy, leads investors to bet on sales in the eurozone. In this sense, Milan drops 0.5%, Frankfurt falls 0.3%, Paris (0.1%). On the contrary, London stands out and accelerates by 0.3%.

This Thursday’s Meeting Adds An Extra Dose of Volatility to the Market, Since the New Macroeconomic Picture of the Region Will Also Be Announced, For Which IN PRINCIPLE A downward revision of the growth estimates and a report of inflation, which would point directly to a stagflation scenario, a “very worrying scenario,” according to Link Securities.

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Back in Spain, the index is weighed down by Aena (-2.8%), Telefónica (-1.7%) and IAG (-1.45%). On the contrary, the biggest increases come from Indra, Inditex and Rovi, with advances that range between 1.26% and 0.75%. Outside of the Ibex, Applus+ stands out, which rose almost 5% after learning that ISQ shares and TDR have launched a counter-takeover bid.

At the opening of the stock market, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 0.6% at the opening, to 92.45 dollars, while Texas stood at 89.08 dollars, 0.6% more. . Regarding currencies, the price of the euro against the dollar advances to 1.0741 ‘greenbacks’, while in the debt market the interest required on the ten-year Spanish bond moderates to 3.707%.

* 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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