The Ibex 35 points to the rebound and puts 9,500 within reach with an eye on the Federal Reserve

All investor paths this Tuesday lead to central banks. This week it is the turn of the Federal Reservehe Bank of England and the Bank of Japan. A mix of tension that leads to indecision in the stock markets. He Ibex 35, the Spanish stock market reference, is showing signs of a comeback with a slight rise of 0.12%, returning its sights to 9,500 points. Its evolution is in line with that of Paris (+0,05%), London (+0,05%), Milan (+0.23%), while Frankfurt gives up 0.12%.

This Tuesday’s day is marked by the publication of the harmonized CPI for the European Union and the eurozone August 2023. At the national level, the Bank of Spain will publish the update of its macroeconomic projections after raising its growth forecast this year and placing average inflation at 3.2%. However, the tension comes from the raw materials side, with Brent oila reference in the Old Continent, close to 95 dollars.

Since the additional production cut decreed by Saudi Arabia and Russia, ‘black gold’ has climbed to annual highs and is beginning to be “in the spotlight” as it is a threat to the deflationary process and can condition the decisions of central banks. In this sense, bonds also suffer. In it case of the Spanish ten-year debt It started the day at 3.7%, after touching 3.8%.

“The new rise in bond yields weighed on the spirits of some investors who, despite almost ending the process of rate hikes by central banks, They begin to fear that the long-awaited rate reductions will take longer to arrive than they were initially anticipating,” say Link Securities analysts. With regard to currencies, the price of the euro against the dollar advances to 1.0678 ‘greenbacks’, while in the debt market the interest required on the ten-year Spanish bond climbs to 3.776%.

Back in Spain, the index has the support of Merlin (+1%), Enagás (+0,95%) Naturgy (+0.77%), Acciona (+0.7%), Colonial (+0,65%) y Unicaja Bank (+0.6%). On the opposite side, he is weighed down by Fluidra (-3,5%), Narrator (-0,8%), Melia (-0,5%), From the log (-0,4%), Amadeus (-0,16%) e IAG (-0,17%).