The Ibex-35 ends its losing streak with a 0.9% rise that lifted the Spanish select above 8,300 points. This was on a day marked both by an increase in oil prices as well as the annual meeting in Sintra of the ECB where its president Christine Lagarde has taken a more aggressive tone and opened the door for raising interest rates further than expected at the September meeting. After the 25-point increase in July, the September meeting will see a more aggressive tone.

The anti-fragmentation tool the agency has been working on for weeks to stop risk premiums from rising in the absence of stimuli withdrawals is almost complete. The institution will also activate the purchase of debt via the reinvestment and reinvestment in the reimbursements from the purchase program that was launched during the pandemic.

This was already evident in the Spanish risk premium, which is the difference between the yield on the Spanish bond versus the German 10-year bond. It fell below 110 basis point on Tuesday.

The main driver of the rises was the energy sector, with Endesa (3.42%), Naturgy (3.02%) and Repsol (2.97%), Red Electrica (2.72%), Red Electrica (2.72%), and Iberdrola (2.55% %) at the top.

Investors are again aware of the development of oil prices. Prices continue to rise pending the OPEC meeting next week, despite not having any major macroeconomic reference.

Brent-type barrel, which is a reference in Europe and the United States, now exceeds 112.5 dollar. The American West Texas is about 112 dollar. This is due to the new sanctions that G7 has threatened to apply to Russia.

Experts recommend investors be cautious in this calmer environment. This is because of an expected increase in stock market volatility in the summer. All will depend on what data is available throughout the day and whether they indicate if the global economy is heading towards a recession.

The credit rating agency S will also be open this Tuesday.

The firm is now projecting that Spain will grow by 4.1% in 2022. This compares to the 4.7% forecasted in May when it had already reduced its forecasts by 1.4 points. Growth will reach 2.7% by 2023, as opposed to 3.3% in May. The growth forecast for 2024 is 2.5%. This represents an additional cut by three tenths.