The Ibex catapults a new historical maximum after exceeding 16,700 points and is on its way to closing its best year since 1993
The Ibex 35 picks up speed and reaches a new all-time high. The selective closed this Thursday’s session with an increase of 0.97% that propelled it towards 16,746 points, supported by large values such as Inditex and the banking sector. The forecast that the Federal Reserve (Fed) will lower interest rates at next week’s meeting in the heat of the latest economic data gives wings to investors and showers the main European stock markets with green.
The US employment data published throughout the day show a possible cooling of the labor market and lead the market to think that the body headed by Jerome Powell will apply adjustments to the price of money from the current range, set between 3.75% and 4%. Specifically, between January and November, a total of 1.17 million layoffs have been recorded in the US, which is the worst number since the pandemic, according to the Challenger report. Added to this is the decrease of 27,000 weekly requests for unemployment benefits, to 191,000, below forecasts.
The Ibex 35 has led the rises within the Old Continent in a day of widespread purchases. The Dax pivoted 0.8%, the French CAC 40 rose 0.43%, while the Italian FTSE MIB and the British FTSE 100 rose 0.3% and 0.2%, respectively. The momentum also extends to Wall Street, where its three main indices are trading slightly positive.
Back in Spain, Grifols led the session with an advance of 3.57%, followed by Inditex, which rose 2.6% and Acciona (+2.46%). Banking stocks also pull the index, with CaixaBank (+2.34%) and BBVA (+2.19%) leading the way. Banco Sabadell rises another 2% and Banco Santander advances +1.78%. Telefónica, for its part, ended with a slight increase of 0.36% after learning that it had reduced layoffs by 5%. In contrast, the falls are led by Repsol (-1.44%), IAG (-1.36%), Bankinter (-1.23%) and Acerinox (-1%).
