July 14 () –
The Ibex 35 has appreciated 2.05% in the week, despite the fact that in the session this Friday it closed with a fall of 0.43%, in such a way that it stood at 9,438.3 integers.
The XTB analyst, Joaquín Robles, points out that the Spanish stock market has been boosted by the slowdown in inflation that has been registered in the United States, in such a way that the Madrid selective has returned to close to annual maximums, pending before the results season begins next week in Spain.
“Investors have begun to discount the end of the cycle of increases for this end of the year, which has had a great impact on all markets, stock markets, bonds, currencies and raw materials,” he adds.
Beyond the CPI in the United States, which in June stood at 3% year-on-year, Robles points out that investors are waiting for new stimuli in China, since the Asian giant continues to show signs of weakness. Exports fell more than 12% in June, above expectations, and second-quarter GDP growth is forecast at 0.5%.
In today’s session, it should be noted that the earnings season has begun with the accounts of the large banks. Specifically, Citigroup’s profit fell 36% in the second quarter, while JPMorgan’s rose 67%, Wells Fargo’s 57%, and BlackRock’s 26.8%.
The XTB analyst points out that next week will continue to be dominated by economic data, business results and speculation about the next moves by central banks. The most outstanding macroeconomic references are China’s GDP, the CPI in the euro area and in China, and new employment data in the US.
Regarding the companies that publish results, Bank of America, Morgan Stanley, Tesla, ASML, Netflix and J&J in the United States stand out. In Spain, Bankinter and Logista will be the first to publish.
In today’s session, the biggest increases were recorded by Rovi (+3.67%), Ferrovial (+1.50%), Logista (+0.81%), Inditex (+0.60%) and Acciona Energy (+0.56%).
On the side of falls, Fluidra stands out (-8.80%), given the drop of more than 30% of Leslie’s, the American swimming pool company, after yesterday announcing that it expected a reduction in its sales and profits. Behind were Repsol (-3.03%), Bankinter (-2.96%) and Solaria (-2.42%).
With respect to the rest of the big European squares, London has closed with a fall of 0.08%, followed by Frankfurt (-0.22%) and Milan (-0.39%). Only Paris has managed to end with a slight revaluation of 0.06%.
In the commodity market, a barrel of Brent traded at $80.36, 1.23% less, while West Texas Intermediate (WTI) stood at $75.84, 1.37% less .
The yield on the 10-year Spanish bond in the secondary debt markets stood at 3.523%, while the risk premium stood at 101 basis points.
In the foreign exchange market, the euro appreciated 0.10% against the dollar, reaching 1.1237 ‘green tickets’ for each unit of the community currency.
