January 16, 2021

The Spanish stock market rises 0.16% after the opening pending the ECB

The Spanish stock market rises 0.16% after the opening pending the ECB

The Spanish Stock Exchange, which opened this Thursday flat, rises 0.16% minutes after the opening, with investors awaiting the meeting of the European Central Bank (ECB), which could lower its economic forecasts and announce new long-term liquidity operations .

At 9.15 am, the main indicator of the Spanish Stock Exchange, the IBEX 35, adds 15.10 points, that 0.16%, which allows it to exceed 9,300 points (9,312.90 points).

The national market opened today cautiously after registering a 0.42% rise in the previous session, despite the fact that the OECD significantly reduced the economic forecasts of the euro zone.

The slowdown in the economy did affect Wall Street, which accepted negatively the conclusions of the "beige book" of the Federal Reserve (Fed), which shows a slowdown in US economic activity.

In Asia, the main markets have maintained this negative trend of Wall Street, and Tokyo has fallen 0.65% in the face of the worst economic outlook.

And this in a day in which it has been known that Huawei has filed a lawsuit against the US government for having banned their products amid accusations of espionage against the Chinese company, which accuses Washington of stealing their emails.

However, investor attention will focus today on the conclusions of the ECB meeting, in which it is foreseen that the agency will revise downwards the forecasts of growth and inflation and will announce a new round of cheap long-term financing for the bank (known by its acronym in English TLTRO).

In addition, the agency could postpone the first rise in interest rates.

Waiting to know the decisions of the ECB, in the debt market, the performance of the Spanish 10-year bond stands at 1,120%, after the previous session fell to minimum since 2016, at 1,113%.

The Spanish risk premium remains at 99 basis points.

Within the IBEX 35, large stocks show mixed results; Telefonica goes up 1.05%; Iberdrola, 0.62%; Inditex, 0.30%; and BBVA, 0.24%, while Santander falls 0.20% and Repsol, 0.10%.

Telefónica is the most bullish value of the IBEX 35, followed by Naturgy, 0.79%, and Enagás, 0.72%.

On the contrary, Ence is the value of the IBEX 35 that loses the most, the 1.75%.

In the continuous market, Amrest shoots up 8.05%, while Bavaria stands out when it falls 2.90%.

At the opening of the session, Brent crude – the benchmark in Europe – rises to 66.21 dollars, while the euro drops to 1.13 dollars.

In the European markets, Milan loses 0.09% in the opening, and Paris, the 0.13%, while London does 0.28%. EFECOM


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