• The decision of the Fed and the result of the elections in Holland will be known with the closed European exchanges
  • Inditex will present its accounts tomorrow, before the opening of the market
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The Ibex is quoted with moderate declines (-0.10%, 9,986 points) in this transition day that precedes the 'storm of catalysts' that will arrive tomorrow. Of course, the decision of the Federal Reserve - which, if there are no surprises, will raise interest rates - and the result of the elections in Holland, will be known with closed European exchanges.

IBEX 35

  • 19.542,300
  • 1,01%

While references to interest are published today, such as February inflation in Spain (at 3% for the second consecutive month), March ZEW in Germany or January industrial production in the Euro Zone, tomorrow will come as expected The Federal Reserve's rate hike, the outcome of the Dutch election (to be known early in the morning) and Inditex results, which will be announced before the opening.

In a little more than a month, the Ibex has risen by 10% and elections in the Netherlands could serve as an excuse to collect benefits if the result sets the extremist Party for Freedom at the top. Of course, it will not be easy to analyze the direction the Government will take in Holland once the results are known, considering that its Parliament is very fragmented and that the final Government, yes or yes, must be the result of a coalition between several parties. Dutch Prime Minister Mark Rutte has told voters not to succumb to the "domino effect" of populism.

And in the UK, it seems that the imminent activation of Brexit (speculated with the possibility of it happening today) will have to wait. UK Minister for Brexit David Davis has reaffirmed his intention to activate Article 50 of the Treaty of Lisbon at the end of this month of March, as planned. Parliamentary approval of the Brexit law has cleared the way for Prime Minister Theresa May to formally begin the divorce with the European Union (EU).

"We expect a new 'boring' session on the Western stock markets ... Most investors will wait for events, with the FOMC meeting, the Dutch general elections and the activation of the start-up process. Brexit 'in chapel, "Link Securities experts point out in their daily report.

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