March 6, 2021

The Spanish stock market rises 0.26% after the opening animated by Wall Street

The Spanish stock exchange maintains a profit of 0.26% after a session opening animated by the highs recorded by Wall Street on the eve, following the message sent by the US Federal Reserve. (Fed), which could cut interest rates later this month.

At 9.15 am, the main indicator of the Spanish Stock Exchange, the IBEX 35, scores 25 points, that 0.26%, up to 9,279.60 points, with which annual profits rise to 8.67%.

With today's gains, the IBEX 35 could end a streak of four consecutive sessions of falls.

In Europe, the main markets also point to the positive trend: Frankfurt rises 0.16%; London, 0.19%; Paris, 0.34%; and Milan, 0.48%.

European markets are so infected with the optimism that Wall Street yesterday recorded, where one of its main indices, the Nasdaq, achieved a record close, while the selective S & P 500 also brushed highs.

And this after Fed Chairman Jerome Powell warned of the worsening economic outlook in the US. for the "commercial tensions" and the "global weakness", in a clear signal of the possibility of a cut in interest rates at the end of the month.

If the Fed finally cuts rates, it would be the first time since 2008.

The upward trend of Wall Street has also remained today in Asia, where the Nikkei in Tokyo has risen 0.51%.

The price of Brent crude will also be a factor in today's session, which yesterday rose sharply to 67.01 dollars.

In the opening, the price of crude maintains the upward trend and rises to 67.36 dollars.

Just in the session of this Thursday, OPEC updates its forecasts on the demand and supply of oil in the world in 2019 and publishes its first forecast for 2020.

For its part, the European Central Bank (ECB) publishes the minutes of its monetary policy meeting of June 6, in which some of the members of the Governing Council were in favor of lower interest rates, something that It could happen later this month.

Analysts will also be alert to the US relationship. and France after the US president, Donald Trump, has asked the Department of Commerce to investigate the new regulation that the French country wants to impose on the great American technology.

Within the IBEX 35, the large stocks recorded mixed results in the early stages of the session: Repsol, encouraged by the rise in crude, rose 0.70%; Santander, 0.59%; Telefónica, 0.14%, and BBVA, 0.01%, while Iberdrola falls 0.18% and Inditex, 0.04%.

ArcelorMittal trades at the opening of the day as the most bullish value, 1%, while on the side of losses highlights another day Naturgy, which yields 0.88%, followed by Banco Sabadell, 0.81% , and Bankia, 0.57%.

In the continuous market, Gestamp leads the advances of the entire Spanish stock market to rise 2.79%, while Pescanova is the worst value of the entire market to fall 2.84%.

(tagsToTranslate) Bag (t) Spanish (t) opening (t) Wall (t) Street

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