Tuesday, February 7, 2023

ibex 35, live share market today | Selective Eurozone maintains 8,900 mark after inflation data

Ibex 35 This remains above the 8,900 points won in this Wednesday’s opening. The national index rose 0.62% to 8,945.43 points in mid-session, after tracking inflation data for the eurozone.

in the euro area, The Consumer Price Index (CPI) fell to a two-month low of 9.2% in December, reaching October (10.6%), almost one point below the November figure and one and a half points below the historical record. Inflation across the European Union (EU) stood at 10.4% in December, compared to 11.1% in the previous month.

The consumer price index (CPI) of the euro bloc may bet on the decision to be taken by the European Central Bank (ECB) regarding monetary policy in February.

In the afternoon, and in the United States, the Producer Price Index (PPI), Retail Sales and Industrial Production will be published, all data corresponding to the month of December. Analysts expect wholesale inflation to slow down again and both retail sales and industrial production to turn negative.

All these figures are awaited. European stock markets remain positive. Frankfurt climbed 0.04%; Paris, 0.18%; London, 0.06% and Milan, 0.29%. The Euro Stoxx 50 advanced 0.12%.

Analysts at Link Securities explained that factors such as a slowdown in inflation “continue to play out” in favor of the Old Continent’s markets, mainly thanks to falling energy prices; Falling bond yields and hopes that the worst of the COVID-19 pandemic is over in China.

The widespread good behavior they have shown this morning has reached Europe Asian stock, Especially the Japanese, who have thus celebrated the position maintained by the country’s central bank.

Absolutely, The Bank of Japan (BOJ) chose this Wednesday to keep the main measures of its ultra-accommodative monetary policy unchanged. Thus, it kept the interest rate on short-term bonds at -0.1% and continued its unlimited bond buying to guide the 10-year yield to 0%.

It kept the desirable range for long-term bonds unchanged at +-0.5%. He set this new limit at his last meeting, prompting speculation of a change of direction in his policy that has not yet come.

European stocks start on a positive note Despite closing with a mixed response on Wall Street. New York Parquet was hit by poor results from Goldman Sachs, which had its worst fourth quarter in a decade.

The Dow Jones fell 1.14% and the S&P 500, 0.2%; While the Nasdaq added 0.14%.

Analysts at Link Securities warn that “in the coming weeks will have business consequences And what companies say about the future of their businesses who ‘move’ the European and US equity markets,

“Analysts, particularly on Wall Street, have been revising downward earnings expectations for many companies for months, which could be a double-edged sword for their prices. If the companies exceed estimates and the future of their businesses are relatively optimistic with the course, it is very likely that their prices will rebound strongly”, he underlines.

in the middle of the session, the euro rises against the dollar And this has been changed to 1,085 ‘Green Tickets’.

brent oil Adds 1.44%, to $87.16 a barrel. European crude prices jumped again last day after OPEC said it expected global demand to rise by 2.2 million barrels per day this year.

The Organization of the Petroleum Exporting Countries (OPEC) in particular has predicted that China will record a sharp increase in demand levels after the Asian country withdraws measures against the pandemic.

Spanish 10-year bond yield It falls to 3.036%, while Spain’s risk premium rises to 97.06 basis points.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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