Ibex opens higher on Thanksgiving Day

After a new "quiet" session on the global stock markets, it is expected that Europe continues on Thursday with moderate movements (Ibex opened with a rise of 0.34%) after Wall Street ended the last day with mixed sign. Wall Street will be closed for Thanksgiving Day.

The minutes of the FOMC meeting of November 1-2 did not add much new information. After all, less than a week ago Chair Janet Yellen presented the Fed’s views on the economy and monetary policy to the Joint Economic Committee of the US Congress. While the FOMC meeting took place before the elections, Yellen visited Congress a week after the election outcome.

The other big event of the day came out with a financial hole of €140,000 million in the United Kingdom. Chancellor Philip Hammond acknowledged Wednesday that Brexit will cause a 122 billion pound (140 billion euro) hole in the next five years. Hammond reported a cut in the growth forecast for 2017 to 1.4% from 2.2% before the referendum and announced a series of fiscal actions to favor growth. "The details of the announced actions show that the government is trying to intensify investment in infrastructure" he said.

The Spanish economy grew by 0.7% in the third quarter, one tenth lower than the previous three quarters (0.8%), as a consequence of the slowdown in investment, according to the National Quarterly Accounting published this Thursday by the National Institute of Statistics (INE).