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Tuesday, March 21, 2023
HomeLatest NewsThe Ibex goes back and stands above 9,000 points boosted by Sabadell

The Ibex goes back and stands above 9,000 points boosted by Sabadell

Date: March 21, 2023 Time: 17:26:44

The Ibex 35 accelerates in the early stages of the session and regains 9,000 points, a barrier that it has not touched since mid-November 2021, just before the Covid-omicron variant in Spain. The selective reaches the level of 9,014 promoted by Banco Sabadell, which shot up almost 8% after registering a rebound in its profit of more than 60% during the past year and raised the ‘pay-out’ ratio from 31.8 % up to 50%.

Along these lines, Tesla also beat analysts’ expectations and achieved a profit of 12.5 billion dollars. “In the last few sessions, many other investors have taken advantage of the specific cuts in many securities to take positions, which, as happened this Wednesday, is causing the main indices to consolidate recent gains without giving up practically any ground,” Securan from Link

This Thursday, attention will be focused on the US GDP data for the third quarter, whose forecasts point to a moderation in growth to 2.5%. In Spain, the Active Population Survey (EPA) has been published, which is experiencing from 2022, which gives signs of a brake with the unemployment rate at 12.9%.

On the stock markets, the debate continues between investors who bet that central banks will be able to achieve a soft landing in the main developed economies and those who believe that, as a consequence of the official rate hikes and the consequent restriction, central financial institutions will cause them to enter into recession. “At the moment the first ones are winning it,” says the aforementioned analysis house. Despite this, analysts will urge to wait for the movements carried out by the Fed, the ECB and the BoE next week.

The parks of the Old Continent have also woken up with increases. Milan registers an advance of 0.8%, Paris 0.53%, Frankfurt 0.29% and London 0.21%. Back on the Madrid stock market, the banks lead the ‘rally’ of the Ibex. In addition to the aforementioned entity, the rise of Unicaja Banco (+3.51%), CaixaBank (+2.57%), Bankinter (+1.79%), Banco Santander (+1.73) and BBVA (+1.73%) also stands out. +1.51%). On the side of falls are Amadeus (-1%), Meliá (-0.65%), Aena (-0.39%) or IAG (-0.37%).

In other markets, the price of a barrel of Brent oil, a reference for the Old Continent, stands at a price of 86 dollars at the opening of the markets, with a rise of 0.12%, while Texas stands at the 80 dollars, with an increase of 0.4%. Lastly, the price of the euro against the dollar stood at 1.0919 ‘greenbacks’, while the Spanish risk premium stood at 96 basis points, with the interest required on the ten-year bond at 3.138%.

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

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