The Ibex 35 advances 0.26% in the mid-session awaiting the US CPI

MADRID, 11 Ene.

The Ibex 35 advances 0.26% in the mid-session awaiting the US CPI


The Ibex 35 was trading in the mid-session this Thursday with a slight advance of 0.26%, which took it to 10,093.5 points, in a session in which the December CPI for the United States will be known. one of the metrics that the Federal Reserve (Fed) uses to guide its monetary policy.

Renta 4 analysts point out that the market expects the general rate to be 3.2%, which represents a slight increase compared to 3.1% in November, while underlying inflation would fall to 3.8% in December compared to 4% in the eleventh month.

"The data will be especially relevant to determine to what extent expectations of market intervention rate cuts are excessively optimistic," say the entity's experts, who recall that investors are discounting six cuts in 2024, the first of them, in March and 25 basis points.

However, they remember that the US economy still remains "strong" and inflation remains in a range of between 3% and 4%, still above the 2% objective set by the Fed.

Also in the United States, its Securities Market Commission (SEC) has given the green light to the regulatory changes necessary for the launch of ETFs or bitcoin spot exchange traded funds, which will expand the scope of investment in crypto assets.

The SEC's position, announced this Wednesday, thus authorizes the negotiation of these products starting today by a handful of firms such as ARK, Bitwise RK, Hashdex, VanEck, WisdomTree, Fidelity and Franklin Templeton, Invesco Galaxy, Valkyrie, iShares or Greyscale.

On the business front, Grifols will hold a conference call with investors this Thursday with the aim of refuting Gotham City Research's accusations and providing more details about the recent "false information" and "speculations" published by the bearish fund.

In this context, Grifols was the 'red lantern' of the session, with a fall of 6.60%, followed by Merlin (-1.30%), ArcelorMittal (-0.99%), Amadeus (-0.28 %) and Redeia (-0.10%). On the other hand, the largest increases were recorded by Fluidra (5.24%), Indra (3.30%), Repsol (1.24%), Endesa (0.95%), Solaria (0.88%) and CaixaBank (0.83%.

The main European stock markets were also trading this Thursday with slight increases: Milan appreciated by 0.14%, Frankfurt, by 0.13% and Paris, by 0.07%. Only London lost 0.05% in the mid-session.

In the raw materials market, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 78.01 dollars, 1.58% more, while Texas rose 1.64%, to the 72.54 dollars.

In the currency market, the price of the euro against the dollar stood at 1.0972 'greenbacks', while in the debt market, the interest required on the 10-year bond fell to 3.123% and the premium risk was placed at 96 basis points.