Thanks to Banco Santander, the IBEX 35 is moving back towards 11,100

By David James
Business

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The IBEX 35 gained 0.53% this Thursday and remains at the level of early May 2017, although it has not managed to recover the level of 11,100 points affected by Wall Street’s doubts at its opening. The key factor behind today’s increase was Banco Santander’s 2% increase.

The leading index of the national stock market, the IBEX 35, rose by 58.6 points or 0.53% to 11,090.9 points. There is an appreciation of 9.79% over the course of the year. With the euro at $1.0865, up 0.27% after the release of U.S. trade balance data, London gained 0.48% to hit an all-time high, while Frankfurt gained 0.19%. Milan and Paris fell 0.08% and 0.02% respectively.

After a bumpy start to the session and with small gains, the stock market surpassed the 11,100 point mark an hour and a half after the opening.

Wall Street

Yesterday, Wednesday, Wall Street closed with a mixed result as the Dow Jones Industrial Average fell 0.11%, the S&P 500 gained 0.11% and the Nasdaq Composite gained 0.23%. Federal Reserve Chairman Jerome Powell reiterated yesterday that they plan to cut interest rates, but in no hurry. This will be decided when inflation approaches the set target of 2%.

In Asia, where Chinese plazas were closed for the All Souls’ Day holiday, Seoul gained 1.29% and Tokyo gained 0.81%.

March service sector activity data in several European countries and the Eurozone was out, contributing to the rise in stock markets. It grew in Spain, Italy and Germany, where it entered the expansion zone, and in the Eurozone, but fell in France and the United Kingdom.

Also published was the 8.3% year-on-year decline in production prices in the Eurozone in February.

ECB minutes

The minutes of the last meeting of the European Central Bank (ECB) limited the development of the stock market, which lost the level of 11,100 points in the middle of the meeting, as it “excludes” the possibility of a cut in interest rates in this currency area. next week, as XTB expert Manuel Pinto told Efe, which, however, benefited indebted companies and banks.

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Wall Street started the day up 0.65% following recent cuts and despite weekly jobless claims rising to 221,000 from 212,000.

The U.S. trade deficit rose 1.9% in February despite a rise in exports.

The Spanish stock market reduced its gains at the end of the session due to the decline of Wall Street’s rise (it was up 0.4% at the national close) and the decline of Inditex, closing at almost 11,100 points thanks to the help of the banks (their). Industry index rose 1.84%.

Banco Santander rises 2% on IBEX 35

Inditex’s decline of 1.03% (second largest decline compared to the IBEX) limited the rise of the national stock market, as the other major stocks ended the session with gains: Banco Santander 2.01% (third place due). due to IBEX increases), BBVA 1.67%, Repsol 1.16%, Telefónica 0.42% and Iberdrola 0.18%.

The largest increase in IBEX was recorded by Grifols with 3.78% after receiving European approval for the test to detect viruses such as Zika or dengue fever, while Solaria rose by 2.32%, followed by Banco Santander, followed by Merlín Properties, which increased by 1.99% and Caixabank 1.96%.

Of the eight IBEX companies with losses, first place was ACS with 1.24%; followed by Inditex, while Cellnex lost 0.94%, Aena 0.61% and Ferrovial 0.56%.

On the continuous market, 1,197 million euros were exchanged and Nextil recorded an increase of 10.09% after signing an agreement with a fabric dyeing company, while Bodegas Riojanas took the opposite place with a decrease of 5.02% .

The interest rate on long-term Spanish debt fell by almost seven hundredths and stood at 3.186%, with the risk premium over German bonds at 82.7 basis points.

The troy ounce of gold traded at $2,293, down 0.29%, but still near all-time highs.

Bitcoin gained 2.77% and traded at $67,564.

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