The Ibex 35 wakes up with a 1% drop and clings to 7,800 after the Fed's message

MADRID, 3 Nov.

The Ibex 35 wakes up with a 1% drop and clings to 7,800 after the Fed's message


The Ibex 35 has started the session this Thursday with a fall of 1%, which has led the selective to stand at 7,885 integers at 9:01 a.m., after the president of the United States Federal Reserve (Fed), Jerome Powell, has considered that it is "very premature" to think about a possible pause in interest rate hikes in the country, while pointing out that the price of money still has to go further into restrictive territory.

In this way, after losing 0.38% yesterday, the Madrid selective began the session clinging to the psychological level of 7,800 points, with most of the values ​​in red, after the Fed's decision to unanimously approve a fourth consecutive rise in the country's interest rates of 75 basis points, bringing them to a target range of between 3.75% and 4%.

Investors will be watching the Bank of England this Thursday, which will also announce its decision on interest rates.

In the early stages of this Thursday's session, the biggest falls were scored by Cellnex Telecom (-2.23%), IAG (-2.18%), ArcelorMittal (-1.89%), Aena (-1, 4%), Inditex (-1.4%) and Merlín Properties (-1.3%), while on the opposite side were Indra (3.63%) and Meliá Hotels (3.24%).

The rest of the European stock markets also opened lower with falls of 0.8% for Frankfurt, London and Paris, after the losses recorded on Wall Street as a result of Powell's message.

Likewise, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood this Thursday at a price of 95 dollars, with a decrease of 0.86%, while Texas stood at 89 dollars, with a drop of 1%.

Finally, the price of the euro against the dollar stood at 0.9787 'greenbacks', while the Spanish risk premium stood at 108 basis points, with the interest required on the ten-year bond at 3.349%.