The Ibex 35 gained 1.3% moments after the opening, driven by the forecast of a rate cut by the Federal Reserve in the US and awaiting the decision of the European Central Bank (ECB), which meets this Thursday .
At the opening of the session, the Ibex 35, the main Spanish index, reached 10,229.7 points. In this way, the accumulated profits for the year reach 24%. The selective follows the lead of the American stock markets, which this Wednesday rose above 1%. In the case of the Dow Jones, with a rise of 1.40%, it closed above 37,000 points for the first time.
In the early stages of the session, the biggest increases within the Ibex 35 were recorded by Acciona EnergÃa (5.69%), Solaria (4.45%), Fluidra (3.54%) and Grifols (3.44%). , while the only ‘red lantern’ was Mapfre, whose shares fell 0.05%. The main European stock markets also opened this Thursday with a positive sign, specifically, London rose 1.78%; Paris, 1.41%; Frankfurt, 1.26%, and Milan, 1.10%.
The ECB is expected to keep interest rates unchanged and try to lower expectations of an upcoming rate cut, despite the good progress of the disinflationary process. The day is full of key meetings in monetary policy, as the meetings of the Bank of England, the Swiss National Bank and the Bank of Norway will also be held.
A decrease in interest rates brings the focus back to equities, since fixed income is placed at lower rates and loses appeal over other alternatives that can offer higher returns, such as the stock market. In the debt market, the yield of bonds falls sharply, and that of the Spanish bond falls to 3.04%.
