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The Ibex 'turns around' and trades with a decrease of 0.4% in the middle session, waiting for the ECB

MADRID, 8 Sep.

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The Ibex 'turns around' and trades with a decrease of 0.4% in the middle session, waiting for the ECB


The Ibex 35 'turned around' shortly after the start of the session and traded with a fall of 0.47% in the middle of the session, which led it to stand at 7,824.6 integers around 12:00 p.m. in a day in which investors will be awaiting the meeting of the European Central Bank (ECB) and its decision on a rise in interest rates due to high inflation in the eurozone.

Specifically, Bankinter analysts expect the ECB to raise rates by 75 basis points, above the 50 basis points initially planned, "to finish the job as soon as possible." "If it rose 50 basic points and its message did not gain definition, bad for the market", they point out.

The market is also awaiting the appearance scheduled for today by the president of the US Federal Reserve (Fed), Jerome Powell, who could reiterate his "'hawkish' speech" from Jackson Hole, according to analysts at Renta 4.

It should be noted that the Fed's Beige Book was published yesterday, a document that provides a detailed evaluation of the economy by the 12 US regional central banks, where a "certain degree of moderation" is reflected in the price increases of nine districts, if although central bankers point out that price levels remain "very high".

In this context, the biggest increases were recorded by CaixaBank (2.31%), Solaria (1.76%), Bankinter (1.58%), IAG (1.43%), Acciona Energía (1.01%) and Meliá (0.95%), while on the opposite side were Aena (-3.26%), Red Eléctrica (-2.54%), Enagás (-2.26%) and Telefónica (-1, 91%).

The rest of the European stock markets traded with mixed behavior in the mid-session, with a rise of 0.28% in London and 0.30% in Paris, and a fall of 0.21% in Frankfurt and 0.41% in in Milan.

Likewise, a barrel of Brent quality oil, a reference for the Old Continent, stood at a price of 87.41 dollars, with a drop of 0.67%, while the Texas stood at 81.37 dollars, after fall 0.7%.

Finally, the price of the euro against the dollar stood at 0.9999 'greenbacks', while the risk premium stood at 115 basis points and the return on the 10-year Spanish bond stood at 2.714%.

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