The Ibex closes with rises and stands out from the fear of inflation in the United States

The Ibex 35 has risen 0.23%, to 9,007.70 points; and it has distanced itself from the fear of inflation in the US. Within the index, which fell 2.1% this Tuesday from annual highs, the increases in Fluidra, Repsol, Mapfre and CaixaBank have stood out; and the setbacks in Siemens Gamesa, Acciona and Solaria. For its part, Iberdrola, which has published results (the profit for extraordinary items from the sale of Siemens Gamesa last year reduced by 19.5%) has risen moderately.

The Spanish index has not been affected by the historic rebound in American inflation. The headline CPI has soared to 4.2%, well above the 3.6% expected, in its biggest monthly rise since 2008.

In addition, the core CPI, excluding food and energy, has risen 0.9%, three times what was expected, to 3% year-on-year, well above the 2.3% anticipated, in its largest rise since 1982.

The data, much worse than expected, has reinforced the market's fear of inflationary pressures, which has raised the yields of the US public debt and is hitting the technology sector above all (the Nasdaq falls more than 1% on Wall Street , which sells for the third consecutive day).

For example, Berenberg analysts claim that "the Fed is already behind the curve and its public statements that inflation is temporary and its disdain for the risks of higher inflation seem inconsistent with economic reality. We expect the data to The next few months will force the Fed to change its tone and, by the end of the summer, the central bank indicates that it will begin to reduce its asset purchases. "

MORE GROWTH IN SPAIN

However, these fears have not affected the Spanish stock market, favored by the forecast that Spain will lead the economic recovery in 2021 and 2022, as anticipated by the European Commission, which has improved its forecast for Hispanic GDP to 5.9 % in the current fiscal year.

In addition, the announcement that our country will begin to receive tourists from May 20 and the Government's objective of 45 million tourists coming in the coming months, together with the advance in vaccination, have been other positive factors for the Spanish variable income.

The President of the Government, Pedro Sánchez, has assured that "the Spanish economy is about to be relaunched" because there is "an economic recovery that we are already beginning to see in economic data," he said this Wednesday during the control session in Congress.

THE REASONS FOR WEAKNESS

Globally, there are various reasons are being given to explain the latest declines in stocks. The main one is concern about the recent sustained increase in commodity prices, which may provoke a permanent state of rising inflation in the coming months.

The inflation of Germany (up 2%) and France (up 1.6%) in April were also known. In the United Kingdom, the GDP for the first quarter fell by 1.5%.

In the business sector, companies such as Deutsche Telekom, ABN Amro, Commerzbank and Allianz, among others, have published their resutls.

As for the rest, in the geopolitical sector, there is much talk about the escalation of the war between the Palestinians and the Israelis, which has already claimed over 50 lives this month.

TECHNICAL ANALYSIS AND OTHER MARKETS

Regarding the technical analysis, after the decreases of the last session, the analysts of Bolsamanía point out that it is necessary to pay attention to the 8,800 points of the Ibex. "The downward gap that was left at the opening of Tuesday shows us the strength of sales and the high possibilities that we will see setbacks, in the next sessions, to the level of 8,800 points. At these levels, the most normal thing is that Let's see the return of shopping again, "explains César Nuez, an expert at Bolsamanía and head of Trader Wacth.

Ethereum rises eagerly again this Wednesday and climbs above $ 4,000 (4,325, + 6%). Bitcoin drops 1% to 56,130 dollars.

The euro falls in value 0.6% and trades at $ 1.2073. Oil is up 1.5%, with Brent at $ 69.65 and West Texas at $ 66.35.

Gold and silver fell more than 0.5% to $ 1,825 and $ 27.42, respectively.

The yield of the 10-year American bond rebounded to 1.69%, while the yield of the 10-year Spanish bond increased 7%, to 0.56%.