The Ibex 35 rises 1.71% and returns to its highest levels of the year at 9,600 points after the fall in the US CPI

MADRID, 14 Nov.

The Ibex 35 rises 1.71% and returns to its highest levels of the year at 9,600 points after the fall in the US CPI


The Ibex 35 rose 1.71% this Tuesday after the greater-than-expected decline in US inflation in October and the implications it may have on the monetary policy of the Federal Reserve (Fed).

In this way, the Spanish selective has concluded the negotiation at 9,623.3 points, maximums of the year that have not been seen since mid-last September.

Thus, so far this year, the Spanish market has appreciated by 16.94%, while the annual maximum, around 9,700 points, was reached at the end of last July, a level that, in turn, did not seen previously since March 2020, when the pandemic broke into the markets.

The Spanish market started this day on the rise and stabilized at gains of 0.5% while digesting an important battery of macroeconomic data, such as the confirmation that the Spanish CPI increased 0.3% in October in relation to the previous month and kept its interannual rate unchanged at 3.5%, due to the fact that the increase in the cost of electricity and gas was offset by the decrease in fuel prices.

On the other hand, Eurostat has confirmed that the Gross Domestic Product (GDP) of the euro zone registered a contraction of 0.1% in the third quarter compared to the previous three months, when it expanded by 0.2%, according to the second reading of the data published this Tuesday, while the European Union as a whole stagnated for the second consecutive quarter.

Likewise, the community statistical office has reported that, despite the contraction of GDP in the third quarter, employment accelerated its growth in the euro zone and in the EU as a whole, extending in both cases the positive sequence to ten quarters. in a row.

In the case of the eurozone, occupancy increased by 0.3% in the third quarter, after an increase of one tenth in the previous quarter, while among the Twenty-seven it rose by 0.2%, after 0.1% in the previous quarter. previous quarter.

Without leaving Europe, this Tuesday it was also known that the confidence of German investors has improved again in November, according to the indicator of the Leibniz Center for European Economic Research (ZEW, for its acronym in German), which has been placed at 9.8 points from -1.1 the previous month, the first positive reading of the data since April, suggesting that Germany has already hit rock bottom.

All in all, the markets maintained a lateral behavior (that is, stable and without movements) until the greater than expected decrease in inflation data in October from the United States was known - Banca March experts pointed out this morning that It is the event that would mark the week. Thus, the general rate has moderated to 3.2% and the underlying rate to 4%.

Investors then gave wings to the idea of ​​a softer Federal Reserve (Fed) and lowering interest rates - they are now above 5% - sooner rather than later, reasons that drove the rest of the session to the Spanish market and the rest of the European ones, in addition to the Wall Street indices themselves, which at the European close soared by 2%.

In this context, the most bullish values ​​within the Ibex 35 have been Solaria (7.88%), Colonial (7.55%), Cellnex (5.71%), Merlín Properties (5.51%), Grifols (5 .32%) and Fluidra (5.05%). Other major stocks such as BBVA (2.67%), Iberdrola (1.63%) and Inditex (1.54) have also risen, although less strongly.

In contrast, only five stocks have closed with losses, including several banks due to the prospect of softer monetary policy. These are Unicaja (-0.69%), Telefónica (-0.35%), Banco Sabadell (-0.23%), Mapfre (-0.2%) and Bankinter (-0.19%).

Regarding the rest of the European stock markets, London has advanced 0.2%; Paris 1.39%; Milan 1.45% and Frankfurt 1.76%.

At closing time in the Old Continent, in the raw materials market, a barrel of Brent rose 1%, to $83.37, while West Texas Intermediate (WTI) stood at $79.1, 1.05% more.

In the secondary debt market, the interest on the long-term Spanish bond has closed at 3.63% after falling more than one tenth - specifically, it has subtracted thirteen basis points. In this way, the risk premium (the differential with the German bond) stood at 103.2 points.

At the same time, with respect to currencies, the euro shot up 1.55% against the dollar and stood at an exchange rate of 1.0862 'greenbacks' for each unit of the community currency, a level that did not reached since the end of last August.