economy and politics

The Ibex 35 ends September with an increase of 4.17% and highs of 2010

The Ibex 35 ends September with an increase of 4.17% and highs of 2010

This Monday the index has fallen 0.76%

September 30 () –

The Ibex 35 concluded the month of September with a notable revaluation of 4.17%, reaching 11,877.3 points, the highest in 2010 in a period marked by interest rate cuts by the European Central Bank (ECB). and the Federal Reserve (Fed) of the United States.

It should be noted that, according to market data consulted by Europa Press, the Spanish indicator has thus signed its third consecutive month of increases, although this Monday’s correction (-0.76%) has moved it away from the symbolic level of the 12,000 integers, which I did manage to exceed during last Friday’s negotiation.

Going into the details of the stock market performance in September, it can be seen that the Ibex hardly registered significant movements in the first fortnight, still in a holiday mood, although since the second fortnight began it has done nothing but sign. rise after rise (in the last fifteen days it has only closed three days with losses), which made it achieve, first, 2015 highs and, subsequently, unprecedented levels since 2010.

The main events have come from monetary policy: the ECB cut rates for the second time to 3.5% with a quarter point cut; For its part, the Fed started the cuts with a decrease of half a point, until placing the reference rates at 4.75-5%.

Within the latest batch of macroeconomic data, it is worth noting that Spain’s consumer price index (CPI) fell 0.6% in September compared to the previous month and cut its interannual rate by eight tenths, to 1.5%. , its lowest figure since March 2021, when it stood at 1.3%.

At the international level, the United States personal consumption expenditure price index, the statistic chosen by the Federal Reserve (Fed) to monitor inflation, moderated three tenths in August to 2.2% year-on-year.

Back with Spain, the economy grew 0.8% in the second quarter of the year, one tenth less than in the previous quarter, thanks, above all, to household consumption, which advanced at a quarterly rate of 1%. In an interannual rate, the Gross Domestic Product (GDP) increased by 3.1%, six tenths more than in the first quarter of the year.

In the business field, the hostile takeover bid by BBVA for Banco Sabadell continues its progress while waiting to hear the opinion of the CNMC and the CNMV while the executives of both entities maintain their speeches in the field of public discussion and are committed to reinforcing the dividend policies.

Given this situation, the best values ​​within the Ibex 35 in September have been IAG (+13.86%), ArcelorMittal (+11.14%), Colonial (+9.78%), Inditex (+8.49%) , Iberdrola (+8.35%), Aena (+8.21%) and Telefónica (+7.38%).

On the other hand, the stocks with the worst monthly performance have been Puig (-18.73%), Rovi (-9.99%), Unicaja (-6.53%) and Repsol (-4.9%), while Only eleven listed companies have closed the month with a negative sign.

At the European level, it is worth noting that Milan has subtracted 0.72% and London 0.47% during the month, while Paris has added 0.06% and Frankfurt 2.21%.

For their part, Wall Street indices provisionally register advances of more than 1%. In Asia, the stock markets have registered considerable increases following the latest announcements of monetary stimuli by the Chinese authorities (the CSI 300 has shot up 8.48% this morning).

However, associated with the latter, it has been highlighted that the Tokyo Nikkei has lost 4.8% after the election of Shigeru Ishiba as the new leader of the Liberal Democratic Party of Japan.

In the raw materials markets, the barrel of Brent crude oil, the reference in the Old Continent, fell 8.72% this month, to 71.93 dollars, while the WTI barrel from Texas fell 6.2% , at $69.

Regarding currencies, the euro has strengthened 0.9% compared to the dollar throughout the month, with an exchange rate of 1.1146 ‘greenbacks’.

For its part, in the secondary debt market the interest rate on the long-term Spanish bond has closed at 2.92%, with the risk premium (the differential with the German bond) at 80 points. It should be noted that last week, the Spanish bond placed its interest at a lower level than its French counterpart for the first time since 2008, although this Monday the French bond concluded with a lower rate, at 2.914%.

Gold continues to break all-time highs and this month it has appreciated more than 5%, already putting its sights on the level of $2,700, while Bitcoin has risen 8%, to trade at $63,600.

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