MADRID 18 Oct. () –
The Ibex 35 has risen 1.75% in the week and has managed to maintain 11,900 integers, a level that it lost during much of the session this Friday, in which it finally rose 0.17%. Thus, on Monday it will start from 11,925.2 integers.
However, the index has reached over 12,000 points this week, although momentarily and in the session prior to the meeting of the European Central Bank (ECB), one of the great references of the week along with the publication of business results. in Europe and the USA.
“The organization chaired by Christine Lagarde has reduced interest rates for the second consecutive month, something that has not been seen in the last 13 years,” explains market analyst Manuel Pinto. The moderation of inflation, economic weakness and the first signs of cooling in employment are the main reasons that could lead to “more aggressive” cuts than expected a few weeks ago.
However, the Ibex 35 banks have closed the week with increases, despite the possible negative consequences of this cycle of monetary flexibility for the interest margin, which the market believes can be offset by greater activity.
In the case of BBVA, the value has been impacted by the weakness of the Mexican peso, which is little by little discounting an electoral victory for Donald Trump in the US presidential elections, scheduled for November 5.
In the North American country, Pinto points out that Wall Street has once again set historical highs “for another week” thanks to the good macroeconomic data and the publication of results. On the one hand, retail sales data show higher than expected increases, while unemployment claims have fallen “unexpectedly” after increasing due to the impact of Hurricane ‘Helene’.
“These data once again show the good health of the economic situation in the world’s leading power, although it casts doubt on the next steps of the Federal Reserve (Fed), which does not rule out pausing at the November meeting,” he explains. the analyst.
Next week business results will continue to be the protagonists, with US technology companies such as Tesla or Amazon, while in Spain Bankinter will be the first in the Ibex 35 to publish its accounts.
“The results of the banking entities will be, without a doubt, the event that will allow us to focus in the coming weeks on the next objectives of the national selective, but the drop in the interest margin may not be compensated by the improvement in economic activity and future projections might not be much better,” adds the analyst.
Returning to the Ibex 35 and today’s session, the bullish values of the day have been Acciona Energía (+2.67%) due to the possible sale of hydraulic plants, followed by CaixaBank (+2.40%), Sabadell (+2 .35%), BBVA (+2.09%) and ArcelorMittal (+1.67%). On the other hand, the biggest falls have been those of Inditex (-1.61%), Telefónica (-1.38%), Cellnex (-0.58%), Ibedrola (-0.57%), Aena ( -0.49%) and Logista (-0.43%).
The European stock markets have also closed with a positive sign, highlighting the 0.47% increase in the FTSE MIB of Milan. Behind them were the CAC 40 in Paris, with an increase of 0.39%, and the German DAX, with an advance of 0.38%. Only London has lost 0.32% on the day.
On the other hand, the price of oil maintained its downward path for the week despite the conflict in the Middle East. Thus, a barrel of Brent quality oil, a reference for the Old Continent, fell by 2.16%, to $72.86, while Texas crude fell by 2.36%, to $68.99.
In the currency market, the price of the euro against the dollar appreciated 0.22% and stood at 1.0855 ‘greenbacks’, while in the debt market, the interest required on the 10-year bond It stood at 2.868% after subtracting more than four basis points, with the risk premium with respect to the German bond at 70.5 points.
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