The Ibex awaits Draghi's words while he moves toward the 10,000
The Spanish index marked new annual highs this Wednesday and already accumulates increases of 5% in the year
- The ECB is not expected to announce changes, but the words of its president will be followed closely
- The decision of the ECB will be known just a week before the Fed, which is pronounced next Wednesday
After starting with slight drops, the Ibex has already turned around and is trading 0.3% up on Thursday. While Repsol (-1.23%) weighs on the negative side after the bump in the price of crude, on the positive side banks, Inditex and Telefónica favor the Spanish index hikes.
IBEX 35
19.347,400
-
-0,29%-56,70
- Max: 19.439,00
- Min: 19.330,40
- Volume: -
- MM 200 : 17.099,22
The session on Thursday has the words of ECB President Mario Draghi, an element that can help increase these increases. Although no major news is expected from today's meeting of the European Central Bank (ECB), the clarity with which its president often speaks is usually well received by the exchanges.
The interesting thing about this last quote from the ECB will also be to verify, from next Wednesday (March 15), the strong contrasts between the monetary policy of the Euro Zone and the monetary policy of the Federal Reserve, Which are expected to begin to materialize with the first rate hike of the year in the United States after December.
On the other hand, investors are digesting news from commodity markets, with US crude prices dropping 5.38% to $ 50.28 a barrel on Wednesday. This came after data from the US Energy Information Administration (EIA) showed that inventories rose by 8.2 million barrels last week.
However, and returning to the stock markets, the Ibex is the European index that has been doing better since it started 2017, with cumulative increases of 5%, and above a Dax, which rises around a 4, 2%. The Cac adds 1.2% in the year and the EuroStoxx 2.9%.