The Spanish index has said goodbye to another day in the red, accumulating a 1.3% drop at the close of the stock market. The growth observed at the beginning of the session (which brought the IBEX closer to 7,900 points) has faded throughout the day, reflecting the impact of the US FED meeting and the new rise in interest rates.
The banking sector has been the protagonist of the session, with the main entities (with the exception of BBVA) standing out on the rise. Given the almost general rate hikes by various central banks (today it was the turn of the Bank of England), Spanish banking seems to be the only engine of the IBEX. The rest of the sectors have generally reflected red numbers.
In the macroeconomic field, the Bank of England has been joined by the Bank of Switzerland, with a rate hike of 75 basis points. This measure has had an immediate impact on the Swiss franc, which has fallen against other currencies such as the euro, the dollar, the pound or the Japanese yen. In the energy field, the positive data on natural gas inventories continue to push its price down in the market. On the other hand, both WTI and Brent oil have taken a break from their latest falls, both appreciating around 0.9% in the current session.
Miguel Momobela, XTB analyst