The Ibex 35 rose 1.5% this Thursday, a day marked by the publication of growth data for Spain and Germany for March. Elected in the Spanish stock market, it reached 9,207.1 points in the fourth session up, once it seems that calm has returned to the banking sector.
Solaria led the rebound with an increase of 5.8%, ahead of Melia and Fluidra, which rose 5.66% and 3.68%, respectively. However, only three teams completed the day in the red. Rovi was the one that lost 0.87%; Repsol, 0.14%, and Ferrovial, 0.07%.
Ibex 35 introduced positive session gains in Europe and, to a lesser extent, on Wall Street, after recognizing various economic concepts.
With the ringing of bells it was published the Consumer Price Index of Spain rose 0.4% in March in relation to the previous month and its annual increase of more than 2.5 points, to 3, 3%, according to the progress data published this Thursday by the National Institute of Statistics (INE).
This control over the years of CPI growth puts inflation at its last level since August 2021, when the rate of 3.3% was reported, and represents a fraction of the two consecutive months of growth that brought inflation to 6%. at the end of February
Annual inflation in Germany fell to 7.4% in March, a significant drop from 8.7% recorded in February. For the first time since last August, the CPI is below 8% year-on-year, although the level remains very high, especially in food, with a year-on-year increase of 22.3%.
Experts have already predicted that these prices will fall sharply, precisely in March 2022, after the start of the war in Ukraine at the end of February, when the prices of many products skyrocketed.
In this sense, Link Gestion analysts note “in this scenario that underlying inflation plays a more relevant role, with its calculation excluding the prices of products and services that arise mainly due to the war in March 2022. : energy and unprocessed fuel.
The same experts note that “core inflation has risen without delay in recent months, at all-time highs in the Euro area as a whole.”
Rent 4 experts also indicate that underlying inflation has “highlighted” and this “could reinforce the belief that the European Central Bank (ECB) should continue to raise rates to fight painfully high inflation compared to the 2% target. The discount market increases two more to 3.5% deposit, although before the economic instability that erupted in the first week of March, the ceiling stood at 4%.
Isabel Schnabel, a member of the ECB, stated this Wednesday that there is no outflow of deposits from European banks, which is why she sees the region as soft for the moment. However, he considered that there might be some tightening of credit conditions and this in turn. to reduce inflationary pressure, although it is still too early to determine to what extent.
Investors are already waiting for inflation data from the eurozone and France, as well as the core inflation deflator from the United States, to be released this Friday.
This Thursday was published the economy of the United States of America 2.1% in 2022. The Bureau of Economic Analysis (BEA) did not change the estimated growth of last year in its final calculation, although it decreased by a tenth in the fourth quarter. compared to a third, from an estimated 0.7% to a confirmed 0.6%.
He also changed his estimate of annual growth in the quarter, which he put at 2.6%, a tenth less than that calculated in the second estimate and three tenths less than in the initial data, a revision that “carries” down. improvements in exports and consumer spending,” said the BEA.
The euro advanced against the dollar and was exchanged for 1,089 greenbacks.
Brent oil, Europe’s benchmark, rose 1.19% to $78.53 per barrel.
The yield on the Spanish 10-year bond rose to 3.404%, while the risk premium in Spain reached 101.4 basis points.