The Ibex 35 rises almost 5% in the week and closes above 7,900

Oct. 28 () –

The Ibex 35 has closed the week with a revaluation of 4.91%, despite the fact that in today’s session it has fallen by a slight 0.06%, and remains around 7,916 integers, a level, that of the 7,900 points, which he recovered in yesterday’s session.

In the absence of only one trading session to close October, the XTB analyst, Darío García, highlights that the tenth month of the year has been “extraordinarily good” for the markets, with “strong increases, almost close to double digits”, which they erase the losses recorded in September.

The week has been marked by the meeting of the European Central Bank (ECB) as well as the publication of business results and macroeconomic data.

In yesterday’s meeting, the ECB approved a new increase in interest rates of 75 basis points, up to 2%, as well as modifying the terms and conditions of its third program of long-term refinancing operations with a specific objective (TLTRO III).

It is a measure to put an end to the ‘profits fallen from heaven’ of the banking system and to consistently transfer its monetary policy. This news has caused the banks to record the main falls over the last two days, despite having presented accounts to the market that, in general, have beaten analysts’ expectations.

This week other companies such as Mapfre, Repsol, Iberdrola in Spain, or Alphabet (Google’s parent company) or Amazon in the United States have also presented their accounts.

As for the ‘macro’ data, in Spain today it has been known that the GDP slowed its quarterly growth by more than one point between July and September, down to 0.2%, compared to 1.5% in the previous quarter, due, above all, to the moderation in the growth of investment and household consumption. In addition, in the interannual rate, it moderated three points, from 6.8% to 3.8%.

For its part, the CPI increased four tenths in October in relation to the previous month and suddenly cut its interannual rate 1.6 points, to 7.3%, its lowest figure since February, when the CPI stood at 7 .6%.

The Active Population Survey (EPA) for the third quarter was also published this week, when unemployment rose by 60,800 people, which is almost 2.1% more than in the previous quarter. Employment increased by 77,700 jobs (+0.4%), placing the total number of employed persons at over 20.5 million people.

In the United States, the GDP experienced an increase of 0.6% in the third quarter, according to the first estimate of the data published by the Office of Economic Analysis of the US Government (BEA, for its acronym in English). In this way, the country left the technical recession in which it had entered in the second quarter, when the economy contracted by 0.1%, after having observed a fall of 0.4% in the first three months of the year.

In Germany, the GDP data for the third quarter has surprised us today in a positive way. Specifically, the country’s economy accelerated its rate of expansion in the third quarter to 0.3%, compared to the 0.1% registered between April and June.

In this Friday’s session, the biggest decline was for CaixaBank (-7.03%), which presented its results for the third quarter, with earnings of 2,457 million euros, 17.7% more. It was followed by ArcelorMittal (-2.84%), IAG (-2.68%), Bankinter (-1.79%), Fluidra (-1.42%), Inditex (-1.14%) and Colonial ( -1.03%).

On the other hand, Mapfre has been the bullish value of the day, with an advance of 3.71%, after reporting on its accounts until September and announcing a dividend of 0.06 euros gross.

The rest of the European stock markets have closed with a mixed behavior. Added to the slight drop in the Ibex 35 was the 0.37% drop in the London FTSE 100 and the 0.27% drop in the Milan FTSE. However, the CAC 40 in Paris has advanced 0.46% and the Dax in Frankfurt, 0.24%.

In the United States, the Dow Jones rose 2%, followed by the Nasdaq (+1.80%) and the S&P 500 (+1.37%).

Likewise, a barrel of Brent quality oil, a reference for the Old Continent, stood at a price of 95.67 dollars this Friday, with a decrease of 1.33%, while the Texas stood at 87.92 dollars , with a fall of 1.29%.

Finally, the price of the euro against the dollar stood at 0.9942 ‘greenbacks’, while the Spanish risk premium stood at 103 basis points, with the interest required on the ten-year bond at 3.126%.