The Ibex takes profits attentive to macro data

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Spain’s stock index Ibex-35 It opened on Thursday reaping profits, breaking like European stock markets with three consecutive sessions of gains.

Minutes of the Federal Reserve’s latest policy meeting, released on Wednesday, contained a warning to markets that excessive optimism about potential interest rate developments could backfire.

“The market discounts a rise of 25 bps at the next meeting (February 1), one or two more increases of 25 bps in the next meetings and a possible decline at the end of 2023. A decline at the end of this year is something that, however, no member of the Fed contemplates, “said the brokerage house Renta 4 (BME:RTA4) in its daily analysis note.

On the other hand, markets remain attentive to the way in which the evolution of COVID-19 is being managed in China after the withdrawal of its severe measures, which is causing signs of concern in the United States and other countries about the second world economy.

Macroeconomic data on Wednesday confirmed that the European bloc’s economy is in recession, albeit without the severity feared, as electricity and gas prices receded thanks to a milder start to winter.

The markets will be attentive to the battery of data that is published on Thursday, among which the US private employment data ADP for December and the producer price index of the euro area will be key.

In this context, at 0805 GMT on Thursday, the selective Spanish stock market Ibex-35 fell 26.10 points, or 0.30%, to 8,533.70 points, while the index of large European stocks FTSE Eurofirst 300 fell by 0.32%.

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In the banking sector, Santander (BME:SAINT) lost 1.42%, BBVA (BME:BBVA) fell by 0.66%, Caixabank (BME:CABK) yielded 1.27%, Sabadell (BME:KNOW) fell by 0.96%, and Bankinter (BME:BKT) was left at 0.54%.

Among the large non-financial securities, Telefónica (BME:TEF) fell by 0.45%, Inditex (BME:ITX) advanced 0.65%, Iberdrola (BME:IBE) was down 0.18%, Cellnex (BME:CLNX) gained 0.57% and the oil company Repsol (BME:REP) rose 0.69%.

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