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The Ibex 35 steps on the accelerator and fights to finish the week at maximums

Date: March 24, 2023 Time: 08:16:24

The Ibex 35 does not give up and seeks to close the week at maximums. The selective starts on Friday with an increase of 0.5%, which places it at 9,370 points. After the end of the results season, it is the data that takes over in the markets. After the inflation data, which the ECB believes investors have underestimated, it is now the turn of the services PMIs for February.

“It is possible that the worsening of underlying inflation in the Eurozone in the month of February -it rose to 5.6% from 5.3% in January, a rate that was expected by analysts- was already discounted by investors, who already They assume that in March the Governing Council of the ECB will once again raise its reference interest rates by half a percentage point and that it will continue with its process of increases, probably until the summer,” Link Securities specifies. For now, the bonds remain in the maximum range. The ten-year Spanish debt caresses 3.8%, while the American one remains above 4%.

In this context, the European stock markets open higher. Paris registers a rise of 0.5%, Frankfurt 0.67%, Milan rises 0.7% and London 0.19%. Back in Spain, Fluidra (+1.78%), Cellnex Telecom (+1.5%), ArcelorMittal (+1.2%) and Solaria (+1%) stand out. Only Telefónica (-0.62%), Mapfre (-0.29%), Repsol and Sacyr fell, both with a decline of 0.2%.

At the opening of the stock market, the price of a barrel of Brent quality oil, a reference for the Old Continent, fell to 84.55 dollars (-0.2%), while Texas traded at 77.94 dollars, with a setback of almost 0.3% In the foreign exchange market, the value of the euro against the dollar was placed at 1.0616 ‘green tickets’.

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

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