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The Ibex 35 closes at 10,750 integers and is at its highest since June 2017

MADRID, 20 Mar.

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The Ibex 35 closes at 10,750 integers and is at its highest since June 2017

MADRID, 20 Mar. (EUROPA PRESS) -

The Ibex 35 has closed with an advance of 0.48%, which has brought it to 10,752.5 integers, in such a way that it continues to 'break' highs, reaching levels not seen since June 2017.

Attention today is focused on the monetary policy decisions that the United States Federal Reserve (Fed) will adopt after the European market closes. In this regard, Renta 4 analysts do not expect changes in interest rates, although they could occur in the 'roadmap' or 'dot plot', which could be tightened by reducing the planned decreases to two, compared to the three that They expected in December.

"If the 'dot plot' is adjusted to only two drops, the market would also need to adjust its expectations, which currently stand at three cuts by 2024, far from the seven drops expected at the end of 2023," they add.

Furthermore, this Wednesday, the president of the European Central Bank (ECB), Christine Lagarde, pointed out that, despite significant progress in the three criteria of the framework managed by the institution (inflation prospects, underlying inflation and policy transmission monetary), the ECB is still "not sufficiently confident" that the eurozone is on a sustainable path towards the inflation target.

The Frenchwoman recalled that in June the ECB will have new macroeconomic projections that will confirm whether the inflation path forecast in March is still valid.

In international markets, the price of the yen against the main currencies continued to weaken this Wednesday, particularly against the euro, whose crossing marked its lowest levels since 2008, despite the fact that the Bank of Japan announced yesterday the first increase in interest rates in 17 years.

In this context, the largest increases have been those of Grifols (4.08%), Redeia (2.65%), Mapfre (1.83%), ACS (1.64%), CaixaBank (1.31%). , IAG (1.20%). On the other hand, Solaria (-1.44%), Acciona Energía (-1.30%), Indra (-1.28%), Rovi (-1.01%) and Naturgy (-1.00%) the biggest falls have been noted.

The rest of the European indices have closed with a mixed performance: while London has fallen slightly (-0.01%) and Paris has lost 0.48%, Frankfurt has appreciated by 0.15% and Milan, by 0.09 %.

A barrel of Brent was trading at $85.87, down 1.73%, while West Texas Intermediate (WTI) reached $81.66, down 2.17%.

In the debt market, the yield on the Spanish bond with a maturity of 10 years stood at 3.242%, from 3.250% on Tuesday. In this way, the risk premium against German debt fell to 79.9 basis points.

Regarding currencies, the euro depreciated 0.06% against the dollar, until trading at an exchange rate of 1.0860 'greenbacks' for each unit of the community currency.

Keywords:
IBEX 35