2023-06-30 17:58:27
Full of rises in the Spanish stock market that ends the week around 9,600 points for the first time since February 2020. Today’s rise was driven by the CPI data in the euro zone, which once again exceeded expectations and moderated to 5.5% for the first time since February 2022. Despite the fact that the members of the ECB reiterated this week in Sintra their intention to continue raising rates, the end of this cycle of increases seems to be getting closer.
At the business level, the banks once again led the rises given the prospect that the economy can bear even higher rates. The rise of Banco Santander stands out, which in the accumulated figure for the week rose more than 12%. All the shares that make up the Ibex ended positively, Solaría, Grifols and Merlín Properties also performed notably.
The PCE in the US, which is one of the most used indicators by the Federal Reserve to measure inflation, showed some signs of moderation, which could reduce the pressure on the next rate hikes. The Nasdaq 100 will close the first half of the year with a revaluation of more than 36%, the highest in this period since there is a record.
In other markets, the barrel of Brent is heading for its longest quarterly losing streak in the last three decades. The prospect of lower demand and the continuous rises in interest rates have taken it to the area of 75 dollars. While gold will close the third consecutive week of losses, moving away from all-time highs and reaching below $2,000 per ounce.
Joaquin Robles, XTB analyst
#Ibex #reaches #annual #highs #stands #February #levels