The Ibex 35 remains stable pending the ECB meeting

MADRID, 15 Jun. (EUROPA PRESS) -

The Ibex 35 remained stable and unchanged towards the mid-session, standing at 9,432.5 points, just 0.3 points below Wednesday's close and improving the 0.37% decline registered in the early stages of the session.

The Spanish selective evolved like this after the decision of the United States Federal Reserve (Fed) to maintain interest rates and waiting for what the European Central Bank (ECB) does today.

The market expects the ECB to raise interest rates by 25 basis points, thus raising the price of money in the euro area to the highest since the summer of 2008, as discounted by the consensus of analysts consulted by Europa Press, who also anticipate that the institution will indicate the need for more increases without clarifying whether it will terminate the cycle in July or September.

In the macroeconomic sphere, it has been known that inflation in France moderated in May to 5.1% in the interannual rate, eight tenths below the increase of 5.9% of the previous month

Abroad, the expected recovery of the Chinese economy after the end of the restrictions against Covid-19 begins to lose momentum, suggests the battery of new macroeconomic data published this Thursday by the National Statistics Office (NSO), including a new rise in unemployment to all-time highs among young people, coinciding with a new interest rate cut by the People's Bank of China to stimulate activity.

On the other hand, the Public Treasury has placed 4,950 million euros this Thursday in an auction of government bonds and obligations, in the expected medium range, and has done so by remunerating investors with higher interest rates for government bonds at 3 years. This placement occurs on the same day that it became known that the debt of the public administrations as a whole rose in the first quarter to the all-time high of 1.535 trillion euros, but it moderated to 113% of GDP.

In this context, around 12:00 noon, Inditex was the value that rose the most of all the selective (1.29%), ahead of Meliá (0.62%), CaixaBank (0.49%), Logista ( 0.41%), Acciona (0.31%) and Naturgy (0.30%).

For its part, Grifols led the decreases (-4.44%), ahead of ArcelorMittal (-1.83%), Banco Santander (-1.05%), IAG (-0.93%) and Sacyr (- 0.71%).

In the rest of the major European markets, the German DAX fell 0.40%, while the French CAC 40 contracted 0.58% and the Italian FTSE MIB fell 0.34%. On its side, the British FTSE 100 advanced 0.16%.

On the other hand, the barrel of Brent experienced a rise of 1.05% towards the mid-session, up to 73.97 dollars, while the West Texas Intermediate (WTI) stood at 68.97 dollars, 1.03 % further.

In the debt market, the yield of the Spanish bond with a maturity of 10 years reached 3.457%, from 3.407% at the close of the session on Wednesday. This boosted the risk premium against German bonds by four tenths, up to 96 basis points.

In the foreign exchange market, the euro advanced 0.05% against the dollar, reaching 1.0836 dollars for each unit of the community currency.