The Ibex 35 moderates its fall to 0.1% and recovers 9,300 points at closing, after the US CPI

MADRID, 13 Jun.

The Ibex 35 moderates its fall to 0.1% and recovers 9,300 points at closing, after the US CPI


The Ibex 35 has moderated its fall after knowing the inflation data in the United States, for which it has closed with a decrease of 0.11% and has returned to situate itself at the level of 9,300 integers.

The main reference today was the inflation data for the month of May in the United States, as it is one of the indicators that the Federal Reserve (Fed) controls to guide its monetary policy. Thus, in May, the US CPI stood at 4% year-on-year, which represents a moderation of nine tenths compared to April and represents its smallest increase since March 2021.

However, the underlying index, which excludes food and energy prices from its calculation due to their greater volatility, closed the fifth month of 2023 with an increase of 5.3%, two tenths less than the previous month.

Today it has also been known that the confidence of German investors has improved slightly in June, ending three consecutive monthly falls, according to the indicator of the Leibniz Center for European Economic Research (ZEW, for its acronym in German).

In Spain, the CPI for May did not change in relation to the previous month, but it cut its interannual rate by nine tenths, to 3.2%, its lowest level since July 2021, due to lower prices on fuel and food, which moderated the growth of their prices nine tenths, up to 12%.

Likewise, core inflation (excluding unprocessed food and energy products) fell five tenths in May, to 6.1%, standing 2.9 points above the general CPI and at its lowest level since July 2022.

On the other hand, the Public Treasury has placed 2,069.96 million euros this Tuesday in an auction of three- and nine-month bills, in the expected average range, and has done so remunerating investors with higher interest rates and close to 3 .5% in the case of the nine-month reference, according to data published by the Bank of Spain. The demand in this auction has exceeded 5,343 million euros, more than double the amount finally awarded.

Along with the CPI in the United States, investors are awaiting the meetings that the Fed and the European Central Bank (ECB) are going to hold this week. First, it will be the turn of the US body, which may not raise rates given the moderation of inflation, while the market discounts a rise of 25 basis points in the case of the ECB.

Returning to the Ibex 35, which has closed at 9,333.7 integers, the biggest increases have been registered by IAG (1.98%), ArcelorMittal (1.59%), Amadeus (1.56%), Repsol (1.50 %), Indra (1.40%), Acerinox (1.38%) and Aena (1.25%). On the other hand, Grifols (-2.04%), ACS (-1.54%), Endesa (-1.38%), Rovi (-1.19%), Solaria (-1.01%) and Merlin (-0.88%) have suffered the biggest falls.

Telefónica and Acciona Energía have already traded today without the right to receive the dividend, which has led them to have falls of 5.18% and 2.04%. However, discounting this effect, Telefónica's decline moderated to 1.30%, while Acciona's renewable energy division advanced 0.13%.

The main European stock markets closed positively, with an increase of 0.82% in Frankfurt, 0.57% in Paris, 0.56% in Milan and 0.32% in London.

In the raw materials market, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at a price of 73.99 dollars, with a rise of 2.99%, while Texas was trading at 69 .17 dollars, with a rise of 3.08%.

In the foreign exchange market, the price of the euro against the dollar stood at 1.0791 'green bills', while the Spanish risk premium was around 95 points, with the interest required on the ten-year Spanish bond at 3.362 %.