Investors evaluate Amendments to the exceptional tax on energy proposed by the government. The big cut in the tax bill boosted Naturgy, Endesa and Repsol, which earn more than 1%. After opening in increments of close to 1%, Ibex eases up in 0.5% progress.
Naturgy rose 1.74%, Endesa 1.6%, and Repsol 1.34%
From Monday through Thursday, Ibex accumulates 0.7%. If increases continue in this environment, the weekly balance will be on the index table.
In addition, investors are assessing the messages of the monetary authorities to try to figure out the next steps in terms of interest rates. Yesterday, the Eurozone CPI for October was released, which settled at 10.6%, a tenth less than the expected data. However, it marks a new all-time record and an acceleration of seven-tenths compared to the September data. ECB sources quoted by Bloomberg Agency indicated that despite the strong inflation, the central bank rejects the idea of raising the new interest rate by 75 basis points in December and that they are leaning more towards 50.
In the US, a member of the Federal Reserve moderated expectations that the central bank might halt sharp increases in interest rates. “Prices are not yet in an area that would be considered tight enough,” said St. Louis Federal Reserve President James Bullard. They even set the “final price” at levels between 5% and 7% and when the market cuts it will be between 4.75% and 5.5%.
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