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The Ibex gains momentum and consolidates 9,200 with one eye on the CPI and another on NATO

Date: December 3, 2023 Time: 11:20:02

The Ibex 35 manages to put an end to the falls and starts with a rise of more than 0.4%, with which it puts a point at 9,300 points to receive the wave of IPC. This Tuesday it is the turn of Germany, whose final reading confirms the rise of three tenths to 6.4%. However, the inflation data that can condition the course of the markets is that of the United States, which will be released tomorrow.

For now, expectations are positive after the New York Federal Reserve has published a twelve-month forecast report considering a reduction in June to 3.8% for the third month in a row. If confirmed, it would be its lowest level since April 2021. On a geopolitical level, Turkey yesterday affirmed the withdrawal of the veto that will predispose Sweden to join NATO after a meeting arranged by the Allied Secretary General, Jens Stoltenberg, with Turkish President Recep Tayyip Erdogan and Swedish Prime Minister Ulf Kristersson.

“The market is beginning to price in that, assuming that the FOMC will raise its benchmark rates again at the June meeting, and this despite the fact that many committee members continue to insist that the Federal Reserve should continue raising its rates reference interest, the statements were not as forceful as on previous occasions ”, they point out from Link Securities.

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In this context, Paris woke up with a rise of 0.6%, Frankfurt rebounded 0.4%, London rose 0.26% and Milan 0.19%. The lower pressure on inflation has also been transferred to the debt. The two-year American bond moves at 4.8% after flirting with 5%, while the ten-year tranche falls from the 4% range to 3.98%. The Spanish debt, for its part, fell slightly to 3.6%, while the German fell to 2.61%.

Back in Spain, the entire index is trading positive except for some heavyweights such as Amadeus (-0.71%), Telefónica (-0.5%), Inditex (-0.2%), BBVA (-0, 12%), ACS (-0.14%). On the rise side, Acciona (+1.7%) and its energy subsidiary, Acciona Energía (+1%), as well as Solaria (+1.7%), Enagás (+0.99%) and Colonial stand out. (+1.13%).

In other markets, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 0.48%, to 78.06 dollars, while Texas stood at 73.39 dollars, 0.55 % further. In the foreign exchange market, the price of the euro against the dollar stands at 1.1021 ‘green bills’, while the Spanish risk premium is around 103.4 basis points, with the interest required on the ten-year bond at 3.655%. .

* 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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