MADRID Dec. 5 () –
The Ibex 35 reached the level of 12,000 points this Thursday, a level unprecedented since January 2010, registering a rise of 1.57% in which banking securities have especially participated.
According to market data consulted by Europa Press, the main indicator of the Spanish market has closed at 12,118.7 integers through the aforementioned increase, thus signing a new annual maximum, while in 2024 it accumulates a revaluation of 19.96% .
The banking values in the index have been the driving force behind this advance: Banco Santander has risen 4.58%; Banco Sabadell, 4.42%; BBVA, 4.22%; CaixaBank, 3.61%, and Unicaja, 3.55%.
In this way, the Madrid selective seems not to be affected by the motion of censure that was made yesterday against the Prime Minister of France, Michel Barnier, who has remained in office for only three months.
“Now, the president of France, Emmanuel Macron, must name a new prime minister (although the Constitution does not impose deadlines or conditions), and must also decide whether to ask Barnier and his government to remain in office during the time of the consultation (which could be prolonged in a complicated scenario of a very divided National Assembly)”, the Renta 4 analysts highlight.
“The market speaks that a new government of technocrats could be formed,” add the experts, in a context of greater uncertainty and complexity for France until elections are called again in July 2025.
“It is foreseeable that until a new government is formed, the 2024 Budgets will be extended, which will prevent the public deficit from being reduced to levels of 5% of GDP as Barnier anticipated (in 2024 it could be 6%. This situation of uncertainty will also weigh on GDP, with a probable downward revision of growth forecasts,” they explain.
Analysts also highlight the update of the forecasts made yesterday by the OECD, which revised GDP growth slightly upwards for 2024 and 2025 to 3.2% and 3.3% respectively, as well as the appearances of the presidents of the Reserve US Federal (Fed) and the European Central Bank.
On the other hand, the head of the Fed, Jerome Powell, highlighted yesterday the good performance of the US economy, the labor market and the moderation of inflation, although he does not consider it completely controlled. “In this context, the Fed will continue to lower rates to return them to neutrality, but cautiously,” says Renta 4.
Within the macroeconomic agenda this Thursday, factory orders in Germany in October have fallen by 1.5%, less than the market expected, while retail sales in the eurozone in the same month have risen by 1.5%. 9% in interannual rate, beating analysts’ estimates by two tenths.
In the United States, no major references are expected this Thursday, although investors are already looking at the employment data in the US that will be released tomorrow; In fact, Renta 4 points out that the market is expecting a “robust creation” of work, with an increase of 215,000 non-agricultural payrolls in December compared to 12,000 in November.
In this context, contrary to the trend of banking values, the worst stock market performance within the Ibex 35 has been carried out by Solaria (-2.93%), Aeana (-2.47%), Puig (-1.8%), Acciona Energía (-1.06%) and Repsol (-0.96%).
Regarding the European stock markets, London has added 0.16%; Paris 0.37%; Frankfurt 0.63% and Milan 1.59%.
On the other hand, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 0.07% at closing time in the Old Continent, to $72.35, while Texas stood at $68.56, 0.03% more.
In this area, it is worth noting that the oil-producing countries led by Saudi Arabia and Russia, grouped in the so-called OPEC+, have agreed to delay for three months, until the end of March 2025, the gradual lifting of the supply restrictions applied since November 2023, in addition to extending until the end of 2026 the validity of the rest of the production limitations, which were agreed in April 2023.
In the currency market, the price of the euro against the dollar advanced 0.6%, to 1.0573 ‘greenbacks’, while in the debt market the interest required on the 10-year Spanish bond has escalated up to 2.76%, with the risk premium compared to the German bond at 65 points.
For its part, the troy ounce of gold depreciated 0.63%, to $2,630, while bitcoin this morning surpassed the historical level of $100,000 boosted by Donald Trump’s decision to appoint Paul Atkins, known for his favorable positions towards digital assets, as the new head of the United States Securities and Exchange Commission (SEC).
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