Madrid (EFE).- The Spanish stock market falls 0.22% after opening this Wednesday and remains cautious, waiting for the US Federal Reserve (Fed) to announce its policy decisions today currency, which will be marked by turbulence in the banking system.
At 9.15 the IBEX 35, the main Spanish selective, fell that 0.22%, but managed to maintain 9,000 points. It is listed at 9,028.60 integers.
Earnings for the year are reduced to 9.72%.
The Spanish stock market is taking a breather today after two consecutive days of gains in which it managed to recover part of what was lost in the previous week, when it was affected by the banking crisis in the US and Europe.
In the Tuesday session, the IBEX 35 managed to exceed 9,000 points after posting a 2.45% rise, the highest since the beginning of October, boosted by the banks, which rebounded strongly after the turbulence experienced days ago due to the bankruptcy of the US Silicon Valley Bank, and the purchase of Swiss Credit Suisse by UBS.
Negative trend of some banks
However, some listed banks of the IBEX 35 return today to the negative trend: Bankinter stands out by falling 1.80%, the largest drop in the selective, while Unicaja leaves 1.54%, and CaixaBank, 0.16% .
On the contrary, Santander is the most bullish value of the IBEX 35, 1.14%, followed by Repsol, 0.71%, and Inditex, 0.70%.
Banco Sabadell accounts for 0.56%, and BBVA, 0.15%.
In the US, although tensions in the banking sector continue due to the situation in the First Republic, Wall Street also closed higher yesterday, a trend that was transferred to Asia this morning.
Meanwhile, in Europe, the markets remain cautious while waiting for the Fed rate decision to be announced this afternoon, with the Old Continent market closed.
The market expects an increase in rates of 0.25%, but as a result of the financial turbulence, some investors do not rule out that the body could stop its restrictive monetary policy.
Renta4 analysts explain that the relative calm in recent days in the market, with the support of regulators establishing safety nets for the financial sector, has led to raising the probability of a rise from 0.25% to 90%. , and without expectations of additional increases in subsequent meetings.
At the macroeconomic level, today the publication in the United Kingdom of the CPI and industrial prices for February stand out, while the European Union will know the current account balance.
In Germany, the government advisory council, known as the Five Wise Men, announces its economic forecasts for 2023 and 2024.
With the euro at $1,075, Frankfurt adds 0.03% at the opening, and Milan, 0.10%, while London falls 0.09%, and Paris, 0.05%.
In the debt market, the yield on bonds rises, and in the case of Spain it rises to 3.375%, with the risk premium at 104 basis points.
Brent, Europe’s benchmark crude, fell 0.69%, to $74.84.