The Ibex is boosted by 0.78% and recovers 7,900 points thanks to the bank after the rate hike

MADRID, 8 Sep. (EUROPA PRESS) -

The Ibex 35 has recorded an advance of 0.78% in the session this Thursday, marked by the meeting of the Governing Council of the European Central Bank (ECB), which has agreed to raise interest rates by 75 basic points , to place them at their highest level in more than a decade.

The selective Spanish has recovered the level of 7,900 points, closing at 7,916.8 points driven by bank values. The most pronounced advances in the session have been for Bankinter (6.57%), CaixaBank (6.25%), Sabadell (5.58%), Solaria (4.74%), Grifols (3.94%), BBVA (3%), Rovi (2.99%) and Santander (2.77%).

On the contrary, in the negative terrain have stood out Telefónica (-2.19%), Aena (-2.02%), Electricity Grid (-2.02%), Enagás (-1.98%), Colonial (- 1.62%), Inditex (-1.17%) and Naturgy (-1.05%).

The ECB has agreed that the interest rate for its refinancing operations will be 1.25%, while the deposit rate will reach 0.75% and the loan facility rate, 1.50%.

In this way, the price of money is at its highest level since 2011, when the ECB began a path of stimulus at the monetary level that has lasted more than a decade and that led it to place interest rates in negative territory.

On the other hand, the ECB has updated its quarterly macroeconomic projections and in them it reflects, although without mentioning it, that the eurozone economy will fall into what is known as 'stagflation', that is, stagnation of the economy but with high price increases.

The president of the organization, Christine Lagarde, has stressed that the ECB's commitment is to lower the current high inflation rates and return to the 2% target, but has recalled that monetary policy cannot act on energy prices.

On the other hand, the market has been awaiting the appearance of the president of the US Federal Reserve (Fed), Jerome Powell, who has insisted that they will do what is necessary to control inflation.

In this scenario, the rest of the European stock markets have presented increases in the case of London (0.33%), Paris (0.33%) and Milan (0.88%), while Frankfurt has yielded 0.09% .

Likewise, a barrel of Brent quality oil, a reference for the Old Continent, was at a price of 89.45 dollars, with an increase of 1.63%, while the Texas was placed at 83.83 dollars, after up 2.34%.

Finally, the price of the euro against the dollar stood at 0.9950 'greenbacks', while the risk premium stood at 116 basis points and the return on the 10-year Spanish bond stood at 2.828%.