The Ibex 35 gains 0.73% in mid-session, reaching 19,320.8 points. The chairman of the Federal Reserve, Kevin Warsh, lowered expectations for a new rate hike in October.
According to merca2.es, the Ibex 35 advances by 0.73% in mid-session, standing at 19,320.8 points, after Kevin Warsh, chairman of the Federal Reserve, reduced expectations for a new rate hike in October.
Warsh reiterated the US central bank's commitment to price stability and reminded that some stimulus measures were withdrawn about a month ago. The institution will meet twice more in the remainder of 2026 to assess the situation with the available data.
I do not prejudge the meetings. I do not believe in predicting now what I will do in the meetings we have for the rest of the year.
The firm Renta 4 warns that the market continues to discount three Fed rate hikes in the next twelve months. Additionally, it notes that retail sales figures, weekly employment, and production prices maintain upward pressure on inflation.
Acciona leads the gains with a 3.16% increase, followed by Solaria and Indra, both up by 2.73%. Only Repsol (down 0.51%) and Aena (down 0.47%) are trading in negative territory.
Eurostat has confirmed that the year-on-year inflation in the eurozone and the European Union reached 3.8% in September, six-tenths higher than in August and the highest level in three years.
In fixed income, the Spanish ten-year bond stands at 4.034%, and the risk premium over the German bond drops to 60.7 basis points. Brent is trading at 105.58 dollars and West Texas Intermediate at 97.43 dollars. The euro rises by 0.29% against the dollar, reaching 1.1253 dollars.
In Europe, Frankfurt gains 0.99%, Milan 0.77%, and Paris 0.23%, while London declines by 0.08%. On the geopolitical front, US President Donald Trump stated that Washington is considering the use of the GBU-43/B bomb against Iran, and more than 40 commercial vessels crossed the Strait of Hormuz in recent hours.
The advance is concentrated in a few stocks, indicating more of a portfolio rotation than widespread buying. The sectors that are rising the most, renewables, infrastructure, and concessions, are the most sensitive to debt costs, so the next reference for the market will be the third-quarter earnings season and the Fed meetings scheduled before the end of the year.
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