The Ibex 35 rises 1.83% in the week, already looking to recover 12,000 after 14 years

September 27 () –

The Ibex 35 closed the week with a rise of 1.83%, reaching 11,967.90 points, with its sights already set on recovering the level of 12,000 points, which has not been recorded in the selective since 2010.

During this Friday’s session, when the index closed up 0.12%, the level of 12,000 points was exceeded at times, although it was not maintained.

“The Ibex 35 faces the challenge that its most important sector, banking, faces the final stretch of high interest rates, leaving the high part of its cycle behind,” said XTB analyst Javier Cabrera.

This optimism comes after several cuts in short-term and deposit rates in China, after which the Hang Seng has risen 3.55%; while the CSI 300 has advanced 4.47%. The Nikkei has also advanced 2.32%.

This Friday it was announced that the Spanish economy grew by 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.

For its part, the 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.

In this context, Grifols has been the main bullish value (+3.09%), ahead of Acciona Energía (+2.40%), Fluidra (+1.99%), IAG (+1.88%), Acciona (+1.75%) and Aena (+1.52%).

On the opposite side was Banco Sabadell (-4.80%, impacted by the ex-dividend effect), while Unicaja has fallen 4.17%; CaixaBank, 3.92%; Solaria, 2.51%; and Bankinter, another 2.51%.

Compared to the rest of Europe, London has risen 0.43%; Paris, 0.64%; Frankfurt, 1.22%; and Milan, 0.92%.

The barrel of Brent rose 0.45% at the close of the European trading session, up to $71.92, while West Texas Intermediate (WTI) reached $68.14, up 0.72%.

In the debt market, the yield on the Spanish 10-year bond has reached 2.925%, from 2.965% on Thursday. In this way, the risk premium against German debt has increased by one point, to 79.2 basis points.

At the end of the European session, the euro was trading depreciating 0.16% against the dollar, reaching an exchange rate of 1.1159 ‘greenbacks’ for each unit of the community currency.

Next week will begin with the publication of manufacturing activity data from China and inflation from Germany and Italy on Monday, while euro zone factory production will be released on Tuesday along with its latest inflation data. Composite PMI data for the euro area, as well as European industrial prices and ECB minutes, will be released on Thursday. On Friday the thermometer of the US economy will be taken with its employment and unemployment data.