The Ibex 35 falls gently to 9,330 points, 0.1%, in a new transition day awaiting the two major market references that will be held next week with the Federal Reserve’s interest rate meetings ( Fed) and European Central Bank (ECB). The rest of the European stock markets also registered decreases in a general way in this start of Friday. The German Dax loses 0.2%, the Cac 40 0.15% and the Italian Ftse Mib 0.3%.
“Waiting for next week both the Federal Reserve (Fed) and the ECB to define their interest rate strategies, the European and US equity markets have entered a waiting impasse in which volatility has plummeted -the VIX or ‘fear index’, which measures the volatility of the S&P 500, closed yesterday at its lowest level in 3 years-, which has allowed the main indices to recover ground and, specifically in the case of the former, to partially compensate for the losses accumulated during the month of May”, begins Juan J. Fdez-Figares, director of variable income at Link Gestión.
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In this context, investors are still awaiting the latest decisions by central banks on their monetary policy. On Monday, the Federal Reserve Bank of Australia announced that it was raising rates to 4.10%, and on Wednesday it was the Bank of Canada that announced a 25 basis point rate hike.
On this last day of the week, the largest rise in the components of the Ibex 35 was registered by Grifols (+1.19%), followed by the banks Banco Sabadell (0.66%) and BBVA (0.44%), Telefónica (+0.74%) and Solaria (+0.70%). On the contrary, the largest falls were recorded by Mapfre (-0.48%), IAG (-0.32%), Arcelor (-0.31%) and Indra (-0.22%).
In the energy market, a barrel of Brent oil fell 0.42% to $75.64, while West Texas Intermediate (WTI) reached $70.98, 0.39% less. In debt, the yield on the Spanish bond with a 10-year maturity stood at 3.407%, while the risk premium stood at 99 basis points. In currencies, the euro falls slightly against the dollar, standing at an exchange rate of 1.07 dollars for each euro.
