The Stock Market expects the US inflation data with increases

Inside the Madrid Stock Exchange. / afp

The Ibex relies on the good results of Acerinox to try to recover 8,200 points

Clara Dawn

Investors walk with lead feet in a day marked by the publication of inflation data in different parts of the world, which will predictably confirm the difficult balance that central banks must seek to curb high prices without being an obstacle to the economic recovery process.

For now, investors have already received the Chinese CPI, which in April grew by 2.1% year-on-year from the previous 1.5% and well above the 1.8% expected. All in an environment of a country that maintains strict 'covid zero' policies that, in principle, would have significantly curbed the demand of the population.

Waiting to know how prices have evolved in other regions such as Germany and, above all, the US, the European Stock Exchanges will again try to raise them despite last night's weak performance on Wall Street. In Spain, the Ibex-35 advanced 0.5% to 8,182 points, thanks to the boost from Acerinox, which rose more than 2% after announcing a net profit of 266 million in the first quarter of the year.

Historical figures for the company that multiplies by more than three what was obtained in the same period of 2021 and 34% more than in the previous quarter.

For its part, Rovi also surprises after announcing a profit of 53 million from January to March, 123% more.

Pay attention to the CPI

“Today it will be the US CPI that will focus the attention of investors”, indicate analysts at Link Securities. For now, the market expects the data to reach its peak in March and that in April, although it continues to be high, it will have slowed down significantly.

In this sense, they recall that "the consensus of FactSet analysts expects the US CPI year-on-year growth rate to drop to 8.1% in April from 8.5% in March, while that of its underlying, a variable that excludes for its calculation the most volatile components of the CPI such as the prices of unprocessed food and energy, to slow down to 6% from 6.5% in the previous month.

Meanwhile, in the raw materials market, the oil price rebounded with some intensity after two days of sharp declines. In Europe, the Brent-type barrel rises 2.6% above 105 dollars, while the American West Texas, which on Tuesday came to give up 100 dollars, exceeds 102 dollars again.

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