Spain Stocks Trade above Flatline
4/3/2024 12:36:57 PM
Trading economics-

The IBEX 35 edged up to 11,010 on Wednesday, recovering slightly from yesterday's losses, as markets digested flash CPI and unemployment data for the Euro Area. Eurozone's jobless rate remained at a record low of 6.5% but was above the forecasts of 6.4%. Meanwhile, both, the headline and the core yearly inflation rates have decelerated in March, strengthening the case for ECB to start cutting interest rates sooner rather than later. On the corporate front, increases were led by Grifols (1.8%), heavyweight Inditex (1.4%), Banco Sabadell (1.1%), and Aena (1%), with the latter receiving an overweight recommendation from Bernstein analysts. In contrast, declines were recorded by Laboratorios Farma (-3.6%), Fluidra (-1.7%), Solaria Energia (-1.6%), and Cellnex Tel (-1.4%). Also, traders remained attentive to Acerinox (0.3%) after the company reported an attack on its facilities in Los Barrios.