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The Ibex seems ready to reach another maximum without the reference of Wall Street

Date: March 29, 2024 Time: 01:37:45

The Ibex 35 starts the week with a positive desire to consolidate the level of 9,300 points driven by what may be its sixth consecutive day on the rise. In a session without reference to Wall Street on the occasion of the celebration of ‘Presidents’ Day’ in the United States, everything indicates that the lack of activity in the world’s leading stock market will leave a day of low volume of activity. For now, green prevails in the Old Continent after the positive close of the Asian stock markets.

As the corporate earnings season draws to a close, analysts are still awaiting some macroeconomic data that may anticipate the next moves by central banks. In the US market tomorrow the GDP for the fourth quarter and the manufacturing PMI will be published. “We continue with the parachute in place, but at a particularly delicate moment due to the expansion of multiples that we have seen (more is paid for less profit unit), due to the increase in the cost of debt and given an investor sentiment that has become very positive, it is interesting to establish what protection limits we want to assume”, says the senior market analyst for eToro, Javier Molina.

The climbs predominate in the Old Continent. Milan advances 0.22%, Frankfurt 0.19%, Paris scores 0.15% and London 0.1% after the first minutes after the opening. Back in Spain, Acerinox and Endesa stand out, leading the rises with an increase of 1.19% and 1.3%, respectively. Fluidra (+1%), Iberdrola (+0.8%) and Indra (+0.7%) also stand out. On the side of falls are Bankinter (-0.85%), Telefónica (-0.52%) and CaixaBank (-0.59%).

Likewise, the price of a barrel of Brent oil, a reference for the Old Continent, stood at a price of 83 dollars, with a rise of 1%, while Texas stood at 77 dollars, with a rise of 1%. Finally, the price of the euro against the dollar stood at 1.0697 ‘greenbacks’, while the Spanish risk premium stood at 103 basis points, with the interest required on the ten-year bond at 3.487%.

* 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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