The Ibex closes its first week of 2024 with a rise of 0.62%, to 10,164 points

MADRID, Jan. 5 (-) –

The Ibex 35 has closed its first week of 2024 with an increase of 0.62% compared to the end of 2023, so the selective has risen to 10,164.5 points, in a week in which the minutes have been known of the Federal Reserve and the United States unemployment data.

“After the strong rebound in recent weeks, the market has adopted a more cautious stance and hopes that the economic data and the next central bank meetings confirm the discounted scenario for this year,” indicated XTB analyst Joaquín Robles.

In this Friday’s session, the index recorded a drop of 0.18%, thanks to a bullish streak in the last hours of the session that managed to offset the daily losses. Towards the middle of the session, the selective index lost 1%.

This Wednesday the minutes of the last monetary policy meeting of the United States Federal Reserve (Fed) were released, where the Federal Open Market Committee (FOMC) addressed the possibility of cutting interest rates to throughout this new year. However, he also assured that it would be appropriate to maintain a restrictive tone “for some time” until inflation can be considered under control.

For its part, this Friday it was learned that the US economy generated 216,000 new non-agricultural jobs during the month of December, a figure higher than the 173,000 new jobs created in November, while the unemployment rate remained unchanged at 3.7%.

Likewise, Eurostat has published that the euro zone’s annual inflation rate accelerated in December to 2.9% from 2.4% the previous month, which is its highest reading since last October.

For its part, the industrial producer price index of the euro zone registered a monthly decline of 0.3% last November, after having increased three tenths the previous month, while in the European Union the data fell one 0.2%, after having risen in the same proportion in October.

In this context, the main rising value this Friday has been Banco Sabadell (+2.22%), ahead of CaixaBank (+1.42%), Mapfre (+1.26%), Acciona Energía (+0 .85%), Banco Santander (+0.85%) and BBVA (+0.64%).

Stock market falls have been common for the rest of Europe’s main indices. The French CAC 40 has fallen 0.43%; the German DAX, 0.40%; while the Italian FTSE MIB rose 0.12%. The British FTSE 100 fell 0.43% and the Euro Stoxx 50 fell 0.23%.

In the raw materials market, a barrel of Brent rose 1.57%, to $78.8, while West Texas Intermediate (WTI) stood at $73.79, up 2.23%.

In fixed income, the Spanish bond with a maturity of 10 years has stood at 3.151%, compared to 3.112% registered at the close of Thursday. In this way, the risk premium against German debt has risen by seven tenths, to 99.5 basis points.

In the foreign exchange market, the euro has remained practically stable against the dollar, registering at the close of the European stock market session an exchange rate of 1.0951 ‘greenbacks’ for each unit of the community currency.

Next week, investors will be awaiting the start of the international earnings season, as the fourth quarter 2023 accounts of JPMorgan, Bank of America, Blackrock, Wells Fargo, Citi and BNY Mellon, among others, will be released. .

Regarding the macro agenda, on Monday the euro zone strike will be announced, while on Thursday it will be the turn of inflation in the United States and, on Friday, inflation in China, as well as its trade balance. On Friday, inflation data from Spain, industrial prices from the United States and GDP from the United Kingdom will also be published.

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