The national index fell 1.5% this Friday
Jan. 10 () –
The Ibex 35 has concluded the first full week of trading in 2025 with an increase of 0.59%, reaching 11,720.9 points, although the weekly count has been significantly reduced due to the generalized declines in this Friday.
The main indicator of the Spanish market closed this Friday with a fall of 1.5%, thus moving away from the level of 12,000 integers to which it had managed to approach these days for the first time in a month, according to this publication. day of the very solid US employment report in December.
Despite this, according to market data consulted by Europa Press, the Spanish stock market has had its third consecutive week of positive results, while so far this year it has accumulated a revaluation of 1.1%.
Going into the details of this week, it is worth noting that the main reference – known this Friday – has been that the US labor market created 256,000 jobs in December and the unemployment rate fell one tenth, to 4.1%, which which has strongly beaten analysts’ expectations.
Consequently, investors are calibrating the Federal Reserve’s (Fed) monetary policy expectations in the direction of greater aggressiveness; Along these lines, Axa IM experts have bet that the Fed will only make a cut in 2025 and it would foreseeably take place in October.
For its part, this Friday’s session also featured the reopening of Wall Street, which yesterday remained without activity due to the tributes for the death of former US president Jimmy Carter: the New York indices registered falls of more than 1% due to this change in prices. Fed rate outlook.
In the international arena, it was announced this Friday that the People’s Bank of China has announced its decision to “temporarily suspend” the purchase of government bonds on the open market.
Likewise, at the European level it emerged this week that the eurozone inflation rate rose in December to 2.4% year-on-year, two tenths above the previous month’s reading, which represents the largest increase in prices since last July.
It was also known that the unemployment rate in the eurozone stood at 6.3% in November for the fourth consecutive month, at its lowest level since the beginning of the historical series in 1999, while in the EU as a whole the figure remained unchanged. stable at 5.9%, also its lowest level since records began, according to data published by Eurostat, which indicated Spain as the country with the highest unemployment rate, with 11.2%.
At the Spanish business level, he highlighted that BBVA has modified the minimum acceptance condition of the takeover bid that it wants to launch for Sabadell to reach 50.01% of the share capital, so that it is now conditioned to reach “more than half of the effective voting rights”, which excludes Banco Sabadell’s treasury stock at the time the offer acceptance period ends.
In the weekly evolution of the Ibex 35, the advances of the banks have stood out thanks to CaixaBank (+8.46%), Sabadell (+8.29%), BBVA (+6.63%), Bankinter (+6 .61%) and Unicaja (+4.77%), followed by IAG (+4.53%) and Santander (+3.86%).
On the other hand, the stocks with the worst weekly results have been Acciona Energía (-6.89%), Acciona (-6.43%), Solaria (-5.72%), Cellnex (-5.52%), Naturgy ( -4.24%), Iberdrola (-4.15%) and Grifols (-3.62%).
Market analyst Manuel Pinto has summarized that this positive behavior of the financial sector has compensated for the fall of companies with higher levels of debt and that suffer from the increase in debt interest.
Regarding the rest of the main European stock markets, it can be seen that all of them have registered considerable losses this Friday, although they have managed to save the gains in the week: Paris has added 0.68%; Frankfurt 1.54% and Milan 2.64%, while London was the exception by subtracting 0.68%.
The barrel of Brent rose 3.7% in the week, reaching $79.37, while West Texas Intermediate (WTI) stood at $76.3, up 3.16%. In fact, Brent has surpassed $80 for the first time since October due to geopolitical tension and new sanctions on Russia.
The yield of the Spanish bond with a 10-year maturity in the secondary debt markets has closed at 3.261% after adding 15 basis points in the week. In this way, the risk premium with respect to the German bond has stood at 67 points.
In the foreign exchange market, the euro was trading with a depreciation of 0.66% against the dollar in the week, crossing at an exchange rate of 1.024 ‘greenbacks’ for each unit of the community currency, minimums for November 2022 .
For its part, an ounce of troy gold became more expensive by 2%, reaching almost $2,700, while bitcoin became cheaper by 4.5% and was trading at $93,900.
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