The Ibex 35 loses 0.92% in the week, but saves 8,100 points

The Ibex 35 loses 0.92% in the week, but saves 8,100 points

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The main indicator of the Spanish stock market, the Ibex 35, has closed the week with losses of 0.92%, but has managed to save the level of 8,100 points.

Specifically, the national selective left 0.27% this Friday, equivalent to 22 points, which stands at 8,100.3 integers, 0.92% less than at the end of the previous week.

The rest of the European stock markets closed in green: Frankfurt rose 1.27%; Milan, 0.96%; Paris, 0.41%, and London, 0.22%. At the close of the Spanish market, Wall Street was trading in the green with gains of 0.48% on the Nasdaq, 0.28% on the Dow Jones and 0.24% on the S&P 500.

This Friday it was known that the US labor market managed to create 372,000 jobs in June, a better figure than expected by the consensus, with which the unemployment rate stands at 3.6%.

In addition, Western markets woke up to the news of the attack on the former Prime Minister of Japan, Shinzo Abe, who has finally died. The events caused the main Japanese index, the Nikkei, to deflate at the last minute and close with a slight advance of 0.10%.

XTB analyst Joaquín Robles points out that this week the Ibex 35 has reached below 8,000 points, with banks leading the falls due to fear of recession.

The energy companies, for their part, gave in to the increases in debt yields, while those related to raw materials, such as Repsol and Acerinox, were affected by lower prices and an expectation of lower demand.

Another of the news of the week was the fine of 203 million to the main Spanish construction companies by the CNMC for altering the operation of public works during the last decades, something that “did not have a significant impact on their prices”, has Robles explained.

Among the companies that performed best are very different sectors, such as Ferrovial, Solaria, Inditex or Indra. On the day of this Friday, Iberdrola has closed with losses of 4.19%, followed by Bankinter and Repsol, with 1.26% and 1.22%, respectively.

On the contrary, Ferrovial has revalued 2.32% and Acciona, 2.21%. In the continuous market, the falls of Nyesa and Innovative Solutions stand out, with 4.76% and 3.69%, respectively, while Berkeley has recorded increases of 7.39% and Técnicas Reunidas, 5.06% .

The price of a barrel of Brent quality oil, a reference for the Old Continent, was quoted at 106.86 dollars at the close of the market, with a rise of 2.21%, while the Texas stood at 104.58 dollars, the 1.85% more.

In the foreign exchange market, the euro continued to weaken against the dollar and was trading at 1.0186 ‘greenbacks’, very close to parity. The exchange rate of the euro against the dollar is registering its lowest levels since December 2002 due to the growing risks of recession in the eurozone.

The XTB analyst has highlighted that the dollar has become one of the main havens driven by the yield of North American bonds, at the same time that raw materials suffered the worst weekly fall since March 2020, losing more than 20 % from their annual highs.

In the debt market, the Spanish risk premium was around 108 basis points at mid-session, with the interest required on the ten-year bond at 2.407%.

Robles explained in a comment to Europa Press that the yield on bonds has risen this week: the German ‘bund’ offers 1.27%; the Spanish, 2.35%, and the American, about 3%.

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