A good inflation figure in the United States (USA) —and, with it, the expectation that the American Federal Reserve will lower the piston with interest rate increases— has triggered the markets this Thursday, in one of the best days for the stock markets —and for the euro— in recent months.
The Ibex 35, the reference indicator in Spain, has appreciated by 1.15% and has exceeded 8,100 points, its best result in almost two months.
The main European markets have gone hand in hand and have all closed with profits.
The German Dax is up 3.5%.
The Eurostoxx, which brings together the 50 main European companies, has also advanced more than 3%.
Wall Street, for its part, has opened with strong gains and, at the close of the stock markets in the Old Continent, it appreciated by 4.6%.
The markets expected the CPI in the US to fall, but not by much.
Inflation stood at 7.7% in October, compared to 8.2% in September, according to data released Thursday by the Bureau of Labor Statistics.
This could imply that the Fed considers starting to curb its aggressive rate hikes.
For stock markets, this is good news: when interest rates are high, the economy slows down—companies find it harder to finance themselves—and corporate profits suffer.
On the other hand, the brake on the increase in money prices especially benefits companies that have a high level of debt, which will have to pay, or so they hope, less for their credits.
Another beneficiary of a possible easing of the Fed's monetary policy is the euro.
In recent months, the dollar has soared, driven by rate hikes by its central bank and by the rise in gas and oil prices, which are paid for in the US currency.
The dollar index, which measures the strength of the greenback against a selection of currencies, was down 2.10% at the close of the European stock markets.
The euro, for its part, appreciated by 1.5% and marked its best figure since mid-August.
In Spain, the Ibex has turned around and, after starting down, has closed the session in green.
Its advance, however, has been less than that of other European markets —such as Milan, which has risen 2.58%— due to the weight of banks in the Spanish Stock Market.
The fact that the end of interest rate hikes is in sight is not good news for large financial institutions: the more expensive money is, the more profitability they get with their loans.
For this reason, the exceptions to the generalized green of the table have been mainly the banks: Caixabank, Santander, Bankinter and Sabadell have depreciated more than 2%.
The other side of the coin has been the listed companies with the most debt, which are the ones that have behaved best this Thursday: Solaria (+8.48%) and Colonial (+6.39%) have led the gains of the Spanish selective .
In the debt market, the 10-year Spanish bond remained flat, while the risk premium rose two points.
With expectations of a boost in the economy - or, at least, a minor slowdown - crude oil has risen.
Brent,
a benchmark in Europe, appreciated 1.2% at the close of the Stock Market and a barrel was around 94 dollars
.
The West Texas Intermediate (WTI), a reference in the US, has followed the trail: the barrel rose a little more than 1%, to 86.83 dollars.
