Oct. 21 () –
The Ibex 35 has recorded an advance of 2.21% in a week marked by the business results season, the resignation of the British Prime Minister, the increase in the yield of bonds and the inflation data in Europe.
In the last session of the week, the Ibex lost 1.29% and stood at 7,545.6 points, due to investors’ concern that high inflation and successive rate hikes accelerate the process of economic slowdown, as explained by the XTB analyst, Joaquín Robles.
On the positive side, only Arcelormittal (+2.24%), Acerinox (+0.59%), ACS (+0.51%), Sabadell (+0.38%) and Repsol (+0, 3%).
On the contrary, the biggest falls of the trading day on Friday were presented by Grifols (-5.16%), Ferrovial (-4.28%), Fluidra (-3.3%), Solaria (-3.21% ) and Inditex (-3.04%).
The rest of the European stock markets have also ended the session on Friday in ‘red’, with the exception of London, which has advanced 0.37%. The falls have been 0.85% in Paris, 0.29% in Frankfurt and 0.62% in Milan.
During the week, inflation in the euro zone set a new historical record of 9.9% in September, although it was one tenth below the first estimate of 10% published by Eurostat. According to Robles, this data “brings closer the possibility of a new rise of 75 basis points at next week’s meeting.”
On its side, the Fed’s Beige Book reiterated the US Federal Reserve’s commitment to control inflation, even if that means higher unemployment and lower growth.
In this scenario, banking has led the increases in the week, driven by the good results of Bankinter and by the prospects of rate hikes, while on the negative side, Fluidra has stood out, after revising sales and the result downwards. gross operating income for the third quarter, and Grifols, faced with the possibility of suffering a million-dollar fine in the US for a collective lawsuit.
The week has also been marked by tensions between Russia and Ukraine, which “are far from cooling down”, and the resignation of Liz Truss as UK Prime Minister after the tax cut plan failed.
Also this week Joe Biden announced a new plan to release 15 million barrels of oil from the US strategic reserve to strengthen energy security, address supply shortages and reduce costs.
The barrel of Brent quality oil, a reference for the Old Continent, stood this Friday at a price of 92.82 dollars, with a rise of 0.45%, while the Texas stood at 84.67 dollars, with a rise of 0.18%.
Finally, the price of the euro against the dollar stood at 0.9796 ‘greenbacks’, while the Spanish risk premium stood at 113 basis points, with the interest required on the ten-year bond at 3.549%.
Looking ahead to next week, the market will be attentive to the meeting of the Governing Council of the European Central Bank (ECB), in which a new rise in interest rates is expected, as well as the publication of new economic data such as the Third quarter GDP and October inflation in Germany, consumer confidence and third quarter GDP in the United States.
At the business level, Enagás, Iberdrola, Santander, Aena, PharmaMar, Repsol, Ferrovial, Sabadell, Acerinox, BBVA, CaixaBank, IAG and Mapfre are expected to publish their quarterly results.
