The Ibex 35 advanced 0.9% in the half session and recovered the whole 8,100

MADRID, 18 Nov.

The Ibex 35 advanced 0.9% in the half session and recovered the whole 8,100


The Ibex 35 traded with a rise of 0.98% in the mid-session, which led it to recover the level of 8,100 integers lost yesterday due to fears of a recession among investors.

Today, the president of the European Central Bank (ECB), Christine Lagarde, has indicated that the threat of a recession in the euro zone is more intense now, despite the fact that the growth data for the economy have been better than expected, for which reason he considers it "vital" to demonstrate the institution's commitment to its price stability mandate.

In addition, he recalled that historical experience suggests that a recession is unlikely to significantly reduce inflation, at least in the short term, so it is "vital" that the ECB shows commitment to its mandate to ensure that inflation expectations are remain anchored and there are no second round effects.

On the other hand, Renta 4 analysts highlight the intervention yesterday by the president of the Federal Reserve of San Luis and member of the US Federal Reserve (Fed), James Bullard, who lowered the optimism that the markets had shown last week after knowing the inflation data in the US, which moderated its advance in October to 7.7%. Bullard said the Fed could push rates as low as 5% to 5.25% in 2023, 25 basis points above what has been discounted so far, due to "persistently high" inflation.

However, the Ibex 35 managed in the half session to overcome the falls of recent days and stand at 8,119.5 integers around 12:00. The biggest increases were carried out by Bankinter (2.76%), Santander (2.71%), BBVA (2.08%), Endesa (1.90%), Inditex (1.57%), Repsol (1.41 %), Naturgy (1.21%) and Red Eléctrica (1.20%).

On the other hand, only Acciona (-2.47%), Meliá (-2.36%), Merlin (-0.83%) fell -although their shares were listed today without the right to a dividend- Acciona Energía (- 0.73%), Cellnex (-0.60%), Amadeus (-0.51%), Indra (-0.32%), Siemens Gamesa (-0.08%) and Rovi (-0.05% ).

The rest of the European stock markets were also trading on the rise with increases of 0.93% in London, 1.07% in Paris, 1.03% in Frankfurt and 1.13% in Milan.

Likewise, a barrel of Brent quality oil, a reference for the Old Continent, stood at a price of 89.56 dollars, with a fall of 0.25%, while Texas stood at 81.68 dollars, with an increase of 0.05%.

Lastly, the price of the euro against the dollar stood at 1.0367 'greenbacks', while the Spanish risk premium stood at 101 basis points, with the interest required on the ten-year bond at 3.057%.