The Ibex 35 once again climbs an important step this Thursday with an advance close to 1% that takes it above 10,850 points, a level that has not been recorded since June 2017. The advance is generalized within the index and the rest of European stock markets after listening to the speech of the Fed and Jerome Powell, who drew an optimistic scenario with inflation, growth and rates driving appetite among investors. The German Dax rose 0.7%, the French Cac rose 0.4%, while the Italian Mib rose 0.6% and the British Ftse rose 1.1%.
“As expected, Fed analysts revised upward their expectations for economic growth and also, but moderately, those for core inflation and the labor market. All of this confirms that the members of the central bank are “They are convinced that the strength that the US economy is showing will continue,” point out Link Gestión analysts. The Fed maintained its forecast that it will lower rates by 75 basis points in 2024, although it did not say whether it will begin that process in June or July. , the main doubt right now.
In the Spanish market, the spotlight is on Iberdrola after announcing its new strategic plan with more than 40,000 million euros of investment. Its shares rose 1.1% after the first readings of its presentation. At the head of the market are Grifols shares (+3.3%), which is imminently awaiting the publication of the CNMV report on what happened in the company. Following due to revaluation were IAG (+2.9%) and BBVA (+2%). In negative territory there are hardly any values in the red or they are so ephemerally. Rovi is the one that falls the most with a decrease of 0.6%, while Enagás and Repsol lost 0.3%.
In the currency market, stability dominated the euro/dollar with movements around the 1.09 at which it has been trading in recent weeks. A barrel of Brent oil exceeded 86 dollars, while TTF gas was quoted at 27 euros. In the debt market, the yield on the 10-year bond in Spain remained at 3.21%, with the German bond at 2.4% and the American bond at 4.25%.
