The Ibex-35 loses steam due to the energy crisis and inflation

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The main Spanish stock market index closed the day on Wednesday with a slight negative trend as the push of banks and Inditex (BME: ITX ) failed to withstand the specter of inflation.

Producer prices in the United States were announced during the day, which fell for the second consecutive month, giving a respite to a market surprised by the increase in consumer prices last day. However, this news has not made the Federal Reserve change its mind in its plan to deal with inflation, and markets are betting on a future hike of 75 basis points.

On the European side, the EU outlined its plan to capture 140,000 million euros so that the costs are not passed on to users, and also said that it is studying imposing limits on the benefits of energy companies and higher taxes, while countries they rush to gather gas reserves for the winter.

Thus, the selective Spanish stock market Ibex-35 closed with a fall of 8.40 points on Wednesday, 0.10%, to 8,055.60 points, while the index of large European securities FTSE Eurofirst 300 lost 0, 77%. 

In the banking sector, Santander (BME: ) rose 0.41%, BBVA (BME:) fell 0.18%, Caixabank (BME: CABK ) advanced 0.29%, Sabadell (BME:) it gained 0.05%, and Bankinter (BME: BKT ) appreciated 1.87%. 

Among the large non-financial stocks, Telefónica (BME: ) fell 0.53%, Inditex advanced 3.78%, Iberdrola (BME: ) dropped 1.90%, Cellnex (BME: ) gained 1.14% and oil company Repsol (BME: REP ) lost 0.39%.

Inditex led the gains after the good results published during the day, which indicated a 25% increase in sales.

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