The Ibex remains at its highest since 2018 and shoots up to 10,550 points

MADRID, 13 Mar.

The Ibex remains at its highest since 2018 and shoots up to 10,550 points


The Ibex 35 has maintained its upward path this Wednesday with an increase of almost 160 points compared to yesterday, which has translated into an increase of 1.53%, to 10,547.7 points. The selective continues to trade at highs since the beginning of 2018.

The rise in the Spanish stock market occurs in the wake of Inditex, which presented results this Wednesday. The textile firm registered a record net profit of 5,381 million euros in its 2023-2024 fiscal year (from February 1, 2023 to January 31, 2024), the second of Marta Ortega as president of the company. which represents an increase of 30.3% compared to the previous year.

Investors continue to digest yesterday's inflation data in the United States, which was 3.2% in February, one tenth above the January data, and the implications it could have for monetary policy. In monthly rate, the general variable of the index advanced four tenths from three tenths in January.

In this context, Inditex rose 5.70% this Wednesday in the middle section of the session. They were followed by Endesa (1.94%), Iberdrola (1.89%), Rovi (1.83%), Acciona (1.79%), Banco Sabadell (1.34%), CaixaBank (1.31%). and Grifols (1.13%).

On the contrary, only six stocks were trading negative towards the mid-session: ArcelorMittal (-0.95%), Cellnex (-0.73%), Colonial (-0.39%), Logista (-0.16%) , Enagás (-0.11%) and Naturgy (-0.10%).

Although the Ibex 35 advanced much more than the rest of the main European stock markets, the upward path was shared: London advanced 0.11%; Paris, 0.51%; Frankfurt, 0.10%; and Milan, 0.52%.

In the raw materials market, a barrel of Brent climbed 1.25%, to $82.94, while West Texas Intermediate (WTI) stood at $78.64, up 1.38%.

The yield on the Spanish 10-year bond fell again to 3.130%, from 3.141% the previous day. In this way, the risk premium against German debt stood at 80.9 basis points, two tenths less.

In the foreign exchange market, the euro appreciated 0.10% against the dollar, until trading at 1.0935 'greenbacks' for each unit of the community currency.