The Ibex recovers 9,100 points with the pull of the bank

Specifically, Eurostat has reported that inflation in the euro zone was 6.1% in the month of May, which represents the lowest level of price increases since February 2022, while the underlying one moderated to 5, 3% from 5.6% the previous month, thus completing two consecutive months of moderation.

The president of the European Central Bank (ECB), Christine Lagarde, has assured that the institution will continue raising interest rates to return inflation to the 2% target, considering that there is no clear evidence that the underlying rate has reached a ceiling. , although it has recognized the importance of “carefully assessing” the transmission force of monetary policy to financial conditions and the economy.

The expectation of further rate hikes, even if more moderate -25 basis points- has boosted bank prices. Banco Sabadell led the increases (+4.24%), followed by CaixaBank (+3.50%), Bankinter (+2.88%), ArcelorMittal (+2.65%), Meliá (+2.53%) and Endesa (+2.47%). On the other hand, only four stocks closed the session in the red: Telefónica (-1.23%), Colonial (-0.18%), Naturgy (-0.15%) and Rovi (-0.05%).

The streak of falls in the stock markets also stops thanks to the agreement between Democrats and Republicans to extend the debt ceiling in the US Now all that remains is its ratification in the US Senate and by President Joe Biden.

Meanwhile, in the commodity market, the price of oil is recovering positions after a few days of sharp falls, which had led the barrel of Brent to flirt even with the loss of 71 dollars. On Thursday, and waiting for the next OPEC+ meeting, the price rebounds more than 3% at the close of the European markets, to $74.7. For its part, the US West Texas trades at 70.6, after having fallen these days below 68 dollars.