The IBEX 35 climbed above 8,200 points on Monday after a 1.28% rise that crowned it as the index with the biggest rise in Europe.
It was caused by the contagion of the uptrend that both major European markets and the North American stock market are experiencing.
The price of U.S. stocks and European securities rose during the day on August 8, which marked the fifth day of gains for the IBEX 35.
Bond yields pared their recent rise and investors weighed the prospects of further aggressive rate hikes by the US Federal Reserve.
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Inflation continues to occupy a central scenario
The end of last week provided a reality check for investors who were most betting on the alleged Fed ‘pivot down’ after Friday’s jobs numbers in United Statesand comments from various members of the institution that “there was still work to do” to control inflation, bolstered the case for further rate hikes.
However, to gather more information on the possibility that these employment data translate into a delay in the expected inflation peak, we will have to wait until Wednesday.
On that day, the United States Statistical Institute will publish the figures for the rise in consumer prices, which will help put the North American economic situation into perspective, as well as the correlation of stock markets such as those in Europe.
From Bankinter, yes, they pointed out that North American inflation will be the most striking benchmark of the week, “especially if it confirms a loss of inertia compared to +9.1% in July”.
In the eyes of the financial entity, this drop would be reasonable due to the moderation in oil prices in July.
The IBEX 35 signs its fifth day of increases
Despite the market looking for more signals to help discern how the US central bank will act, global equity markets, as mentioned, are pricing in Fed moves with a general uptrend.
In the case of IBEX 35 – which benefits from the weight of a bank which can benefit in a context of rising rates, despite Sánchez’s interventionism -, ended Monday’s session by signing its fifth day of increases, managing to climb to 8,272 integers.
Thanks to this record, the reference indicator for the Spanish stock market has risen by 2.3% since August 2, and by more than 3.2% since the Spanish government announced the imposition of an extraordinary tax on banks, cutting nearly 3% in the 3 days immediately following this communication.
During the day of August 8, however, it was not the banking securities that pulled the stock market index the most, but an Inditex which relied on the good results presented by Zalando to trigger your assessment.
The textile giant led by Marta Ortega rose 4.4% at the close on Monday August 8, taking its share price to 25.5 euros.
Naturgy, on the other hand, was the second most bullish stock in the Spanish stock market, improving its price by 2.65%, with three days until the energy company presents delayed results. for a legal dispute in Latin America.