Spain’s main stock index opened on Wednesday as a market reluctant to take risky positions until recent U.S. inflation developments.
After an intervention that clarified few things from the chairman of the Federal Reserve (Fed), Jerome Powell, the eyes are now focused on the US CPI, which will be known on Thursday and that could decant the next decisions of the institution on the cost of loans.
Income Analysts 4 highlighted in their daily report “the lack of clues about the evolution of the Fed’s monetary policy in yesterday’s statements by Jerome Powell, despite the weakness shown by some recent macro data and the moderation in inflationary pressures, which are confronted with the ‘hawkish’ tone of the recent speeches of several members of the Fed, who target long guys for longer.”
Beyond the horizon of the CPI, investors also await the results that will begin to unravel on Friday the big US banks.
After a brilliant start to the year – five sessions on the rise that represented an advance of almost 500 points – at 08:05 GMT on Wednesday, the selective Spanish stock market Ibex-35 rose 13.40 points, or 0.15%, to 8,726.10 points, while the index of large European stocks FTSE Eurofirst 300 advanced 0.17%.
The decline of Cellnex (BME) stood out:CLNX), which fell 0.71% after the resignation of its CEO in full change of strategy.
On the other hand, the Grifols (BME) blood products group:GRLS) was the value that dawned best, with an advance of 3.73%.
Among the rest of the large non-financial securities, Telefónica was recorded by 0.50%, Inditex advanced 0.26%, Iberdrola was down 0.23%, and the oil company Repsol rose 0.47%.
In the banking sector, Santander rose 0.16%, BBVA was down 0.11%, Caixabank advanced 0.18%, Sabadell gained 0.48%, Bankinter rose 0.53% and Unicaja Banco rose 0.99%.