The Ibex 35 opened higher this Wednesday, edging up 0.14% to move around the 8,724 point level at 9:01 a.m., following remarks from Federal Reserve Chair Jerome Powell.
Speaking at a colloquium hosted by the Bank of Sweden, Powell argued that in the absence of a clear mandate the U.S. central bank should avoid climate biased policies and stay focused on its statutory goals, preserving independence in setting monetary policy.
After rising about 0.2% the previous session, Madrid began the new trading day again above the 8,700 mark, with investors awaiting U.S. inflation data later in the week and the release of company results starting Friday.
Early in the session, several stocks moved higher led by Grifols up 4.2%, ArcelorMittal up 1.64%, Meliá Hotels up 1.2%, Acerinox up 1.07% and Colonial up 1.07%. Meanwhile Cellnex Telecom faced the day’s downside, dipping 0.58% as CEO Tobias Martínez Gimeno prepared to step down on June 3.
Rest of European stock markets opened higher with gains around 0.2% in Frankfurt, London and Paris.
Brent crude, the benchmark for European oil, traded down about 0.25% near 79 dollars a barrel, while Texas tea fell roughly 0.43% to around 74 dollars.
The euro traded at about 1.0743 dollars, moving in line with a European risk environment that kept the Spanish risk premium near 105 basis points. The yield on the benchmark ten-year Spanish bond hovered around 3.28%.