21 Apr. (EUROPE PRESS) –
The Ibex 35 has ended the week with a slight advance of 0.56%, despite the 0.37% decrease that it has registered in the session this Friday, which has led it to settle at 9,415.6 integers.
The week has been marked by the concerns of investors regarding the evolution of inflation, rate hikes and economic weakening, something to which business results for the first quarter of the year have been added, as indicated by the XTB analyst, Joaquín Robles.
“Despite these factors, investors continue to recover confidence after the recent financial turmoil. In the case of the Ibex 35, it moves again in the range between 9,200 and 9,500 points, pending the publication of the results of the rest of banks and tourist companies, which are expected to continue increasing their profits and which could drive the Spanish index to pre-pandemic levels of around 10,000 points,” says the expert.
Among the references of the week, Robles highlights the Bankinter accounts, which have given the ‘starting gun’ to the results season in Spain. The bank reported earnings of 185 million, 20% more, thanks to the increase in its interest margin and commission income.
In the United States, most of the entities have already published their results and have been well received among investors, “despite the flight of deposits.”
Regarding the macroeconomic data, China’s GDP stands out, which grew by 4.5% during the first quarter, exceeding expectations and approaching the growth target of 5% per year. For its part, the ZEW investor confidence index in Germany fell sharply this April due to banking tensions, high inflation and the prospect of further rate hikes. Likewise, the CPI in the United Kingdom once again exceeded 10% in March for the seventh consecutive month, “which distances the Bank of England from the possibility of holding a pause in rate hikes,” according to Robles.
Next week will continue to be marked by macro data and business results pending the central bank meetings in May. Among the most important publications, Robles highlights the GDP for the first quarter in the United States and in Germany, where the IFO business confidence index will also be released. Growth data will also be published in Spain, which could be negative, since an expansion of 0.1% is barely expected.
Returning to the Ibex 35, the biggest increases this Friday have been recorded by Logista (+2.44%), Grifols (+1.20%), ACS (+1.18%), Rovi (+1.08%) and Fluidra (+0.67%). On the other hand, there were ArcelorMittal (-3.68%), Bankinter (-2.57%9, Sacyr (-2.04%), Acerinox (-1.95%) and CaixaBank (-1.76 %).
Compared to the Ibex 35, which has closed in negative, the rest of the main European markets have ended today in ‘green’. Thus, Frankfurt has appreciated 0.54%, Paris, 0.51%, Milan, 0.43% and London, 0.15%.
In the raw materials market, the Brent Barrel stood at 81.53 dollars, 0.53% more, while the West Texas Intermediate reached 77.78 dollars, 0.54% more.
On the other hand, the yield of the Spanish bond with a maturity of 10 years in the secondary debt markets stood at 3.512%. Thus, the risk premium fell by three tenths, to 103.8 basis points.
In the foreign exchange market, the euro has remained practically stable against the dollar, reaching an exchange rate of 1.0972 dollars for each euro.
