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HomeLatest NewsThe Ibex opens March ready to reach 9,400 and beat three-year highs

The Ibex opens March ready to reach 9,400 and beat three-year highs

Date: March 24, 2023 Time: 22:51:55

The Ibex 35 starts the month of March at a maximum of three years. The selective scores an advance of 0.15% after the first minutes after the opening, enough to regain 9,400 points. The end of the results season makes investors focus on the macroeconomic data, in which the publication of the manufacturing PMIs in Europe and the US stands out, after growth in China in February.

“The fact that inflation has picked up again in two of the main economies of the Eurozone, the French and the Spanish, is not good news for the ECB, and contradicts the discourse that this variable was beginning to be controlled”, They specify from Link Securities, while warning that if inflation does not take a drastic downward turn, interest rates may be higher than initially discounted by the market.

In this sense, one of the main signs of nervousness among investors can be seen in bonds, whose profitability has already begun to skyrocket, with the consequent drop in their price. At the opening of the markets, the interest on the ten-year Spanish debt already exceeds 3.7%, the highest since 2014, the German at 2.7% and the American at 3.9%.

The stock markets of the Old Continent are trading upwards. Frankfurt registers a rise of 0.2%, Paris 0.2% and Milan 0.3%. London, for its part, fell 0.7%. Back in Spain, Indra led the session with a 3.7% boost after presenting results, followed by ArcelorMittal (+3.2). Also noteworthy are Amadeus (+1.9%), Ferrovial (+1.7%), Grifols, Telefónica and Repsol, all three with a rise of 1.2%. In the falls, Colonial plummeted almost 5%, Acerinox 2.2% and Unicaja Banco 1.6%.

At the opening of the stock market, the price of a barrel of Brent oil, a reference for the Old Continent, rose to 83.87 dollars (+0.5%), while Texas was listed at 77.45 dollars, with a rise of 0.5%, while in the foreign exchange market, the value of the euro against the dollar was placed at 1.0642 ‘green bills’.

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

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