Madrid (EFE) financial and in the publication of the CPI of the euro area.
At 9:20 a.m., the IBEX 35, the main Spanish indicator, is trading at 9,000.7 points after adding that 1.24%. Earnings for the year reach 9.33%.
All the values of the Spanish selective trade in green. The increases of ArcelorMittal stand out, of 3.42%; followed by Repsol, 3.32%; and Acerinox, 2.3%.
Of the great values, Santander scores 2.17%; Inditex, 1.43%; BBVA, 1.41%; Telephone, 0.46%; and Iberdrola, 0.54%.
Cellnex is the value that advances the least, 0.11%.
The Spanish stock market rises strongly today after ending the day before with a rebound of 1.5% after a new rate hike by the ECB, which has maintained its fight against inflation despite the turbulence experienced in the markets this week due to fear to a financial crisis.
Wall Street also managed to finish positive, with gains of 1.17%, after the large US banks came to the rescue of First Republic Bank, one of the entities that has suffered the most after the intervention of Silicon Valley Bank last week. .
Link Securities experts expected that the good behavior of Wall Street, which has spread this morning to Asian stock markets, would allow the main European indices to open with slight gains.
Doubts in the banking sector over the rescue
However, they specified that the doubts that the bailout of several entities has generated in the European and American banking sector “are not going to disappear suddenly and that it will take some time for the prices of the sector as a whole to settle down.” they nod”.
They also highlighted that the “quadruple witch hour” -the expiration of derivative contracts on shares and indices on Western stock markets- always generates a lot of volatility in the markets, “so it is not a good day to draw conclusions about the real state of thereof”.
Likewise, the IG experts add that in today’s session there may be volatility with the first “quadruple witch hour” of 2023, which just comes at a “tense” moment for investors given the sudden movements in recent days that, even , “can be increased today”.
In this Friday’s session, the focus will remain on banking, but also on the publication of the CPI for the euro area for February, after the ECB decided yesterday to raise interest rates again, by another 50 basis points, to fight inflation.
The OECD will also publish its interim economic outlook report, while the US will release industrial production data for February.
At this time, the euro rises and changes to $1,066, while the European markets have started the session with important advances: Frankfurt gains 1.01%; London, 0.99%; Milan, 0.98%; and Paris, 0.91%.
The profitability of the Spanish debt rises, up to 3.34%.
Brent, Europe’s benchmark crude, gains 1.26%, to $75,640.