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The Spanish Stock Market rises 1% and tries to erase weekly losses

Madrid, May 14 (EFE) .- The Spanish stock market rises 1% after the opening of this Friday and seeks to erase the accumulated losses in the week, supported by the rebound of Wall Street and in Asia, after the previous strong falls caused by the fear of a sharp rise in US inflation.

At 9.15 am, the IBEX 35, the Spanish selective, adds 89.60 points, that 1%, to 9,056.50 points. The earnings for the year reached 12.15%.

In the week, the accumulated losses are reduced to a slight 0.05%.

The IBEX 35 rises this Friday after closing the previous session with losses of 0.46%, weighed down by the inflation data in the US, although during part of the session it fell by more than 2% and endangered the elevation of 8,800 points.

However, the selective managed to moderate the falls after the bullish opening of Wall Street, which finally rebounded after several sessions to the downside.

The positive tone on Wall Street has also boosted Asia today, where some markets such as Tokyo have risen strongly, with gains of more than 2%.

Hong Kong also adds 1.62%, and Shanghai, 1.77%.

In the Old Continent, the trend is also positive: London scores 0.63% at the opening; Frankfurt, 0.62%; Paris, 0.54%; and Milan, 0.35%.

On this Friday, investors’ attention will be on the US, where consumer confidence data for May will be released, specifically the University of Michigan, as well as industrial production data.

The European Central Bank (ECB) will also publish the minutes of the April monetary policy meeting, in which it reiterated that it was going to increase weekly debt purchases, and this, at a time when the sharp rise in inflation in the US .UU boosts returns on sovereign bonds.

In the debt market, today the yield of the Spanish ten-year bond, the benchmark, remains at 0.58%, and that of the United States, which is the one that worries investors the most, at 1 , 65%.

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Within the Spanish market, Inmobiliaria Colonial is at the opening as the most bullish value of the IBEX 35, rising 1.99%. Indra also increased 1.87%.

On the contrary, ArcelorMittal is the one that falls the lowest, 0.98%, followed by ACS, which after presenting its accounts at the end of Thursday, falls 0.26%.

After the opening, all the major values ​​of the indicator rose: Telefónica, 1.56%; Inditex, 1.47%; BBVA, 1.17%; Iberdrola, 1.16%; Santander, 0.92%; and Repsol, 0.07.

In the continuous market, Aperam stands out by falling 4.38%, while Baviera shoots up 14.5%.

In the commodities market, Brent, Europe’s benchmark crude, lost 0.33% to $ 66.84.

(c) EFE Agency

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