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The Ibex closes with gains and stands out from the fear of inflation in the United States

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The IBEX 35 it has risen 0.23%, to 9,007.70 points; and has distanced itself from the fear of inflation in the US. Within the index, which fell 2.1% on Tuesday from annual highs, the rises in Fluidra, Repsol, Mapfre and CaixaBank; and setbacks in Siemens Gamesa, Acciona and Solaria. For its part, Iberdrola, which has published results (19.5% reduction in profit from extraordinary items from the sale of Siemens Gamesa last year) has risen moderately.

The Spanish index has not been affected by the historic rebound in American inflation. The headline CPI has soared to 4.2%, well above the 3.6% expected, in its biggest monthly rise since 2008.

In addition, the Underlying CPI, excluding food and energy, has risen 0.9%, triple the expected, to 3% year-on-year, well above the 2.3% anticipated, in its biggest rise since 1982.

The data, much worse than expected, has reinforced the market fear of inflationary pressures, which it's raised yields on U.S. government debt and it is mainly affecting the technology sector (the Nasdaq falls more than 1% on Wall Street, which sells for the third consecutive day).

For example, Berenberg analysts claim that "the Fed is already behind the curve and his public statements that inflation is temporary and his disdain for the risks of higher inflation seem inconsistent with economic reality. We hope that the data for the next few months force the Fed to change its tune and, in late summer, the central bank indicates that it will begin to reduce its asset purchases. "

MORE GROWTH IN SPAIN

However, these fears have not affected the Spanish stock market, favored by the forecast that Spain will lead the economic recovery in 2021 and 2022, as anticipated by the European Commission, which has improved its forecast for Hispanic GDP up 5.9% in the current fiscal year.

In addition, the announcement that our country will begin to receive tourists from May 20 and the Government's objective of 45 million tourists to come in the next few monthsAlong with the advance in vaccination, there have been other positive factors for Spanish equities.

The President of the Government, Pedro Sánchez, has assured that "the Spanish economy is about to re-launch" because there "an economic recovery that we are already beginning to see in the economic data", as he said this Wednesday during the control session to the Executive in Congress.

THE REASONS FOR WEAKNESS

Globally, various reasons are being given to explain the latest declines in stocks. The main one is concern about the recent sustained increase in commodity prices, which it may cause a permanent state of rising inflation in the coming months.

They have also been known inflation in Germany (up 2%) or in France (up 1.6%) in April. In the United Kingdom, first quarter GDP falls 1.5%.

In the business sphere, companies have published their accounts such as Deutsche Telekom, ABN Amro, Commerzbank and Allianz, among others.

For the rest, in the geopolitical field, there is a lot of talk about the escalation of the war between the Palestinians and the Israelis, which has already left more than 50 dead.

TECHNICAL ANALYSIS AND OTHER MARKETS

By technical analysis, after the declines of the last session, the analysts of Bolsamanía point out that it is necessary to be attentive to the 8,800 points of the Ibex. "The downward gap that was left at the opening of Tuesday shows us the strength of sales and the high possibilities that we will see setbacks, in the next sessions, to the level of 8,800 points. At these levels, the most normal thing is that we see the return of shopping", explains César Nuez, an expert at Bolsamanía and head of Trader Wacth.

Ethereum returns to come up with enthusiasm this Wednesday already climb above $ 4,000 (4,325, + 6%). Bitcoin is down 1% to $ 56,130.

The euro it depreciates 0.6% and changes to $ 1.2073. The Petroleum up 1.5%, with Brent at $ 69.65 and West Texas at $ 66.35.

The gold and the silver they fell more than 0.5%, to $ 1,825 and $ 27.42, respectively.

The profitability of 10-year American bond rebounds to 1.69%, while the yield of the 10-year Spanish bond it rebounded 7% to 0.56%.

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