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Wednesday, April 17, 2024
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The Ibex 35 seeks to recover 9,400 with an eye on the Jackson Hole meeting

Date: April 17, 2024 Time: 08:50:13

In this Wednesday’s session, the Ibex 35 is trading with a rise of 05%, bringing the index to a stone’s throw from 9,400 points. Investors are watching the publication of the PMI manufacturing and services indices for the euro area and for countries such as Germany, France, Spain and the United States.

Japan’s preliminary PMIs are now out, indicating that Japanese economic activity grows in August due to the services sector, while industry continues to show weakness.

During Wednesday, the markets remain pending the data of construction permits and new home sales in the United States, as well as the results of Nvidia.

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The highlight of the week, however, is the central bankers’ summit in Jackson Hole, which begins tomorrow. The highlight will be Friday with presentations by Christine Lagarde, President of the European Central Bank (ECB), and Jerome Powell, President of the US Federal Reserve (Fed). It is expected to address the evolution of interest rates.

While waiting for what both leaders can communicate about interest rates, the main European stock markets open in positive territory this Wednesday. Frankfurt, Paris and Milan register increases of more than 0.3% at the opening, while London gains 0.15%.

In the first operations of the day, at 9.09 am, most of the values ​​in the Ibex 35 are listed in green. Only Grifols, Mapfre and Inditex show losses, with falls of 1.4%, 0.16% and 0.12%, respectively. On the other hand, the greatest gains in the index are presented by Red Eléctrica (+1.1%), ArcelorMittal (+0.92%), Solaria (+0.89%), Acerinox (+0.77%) and Enagás (+0.73%).

At the start of the trading session, the price of a barrel of Brent oil, used as a reference in Europe, decreased by 0.4%, standing at 83.69 dollars, while Texas oil was at 79.35 dollars, a reduction of 0.38%.

Regarding currencies, the euro strengthens against the dollar, reaching 1.0863 dollars. In the bond market, the interest on the Spanish 10-year bond drops to 3,660%.

* 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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