MADRID, Nov. 3 (-) –
The Ibex 35 closed the week this Friday at 9,293.90 points, which is equivalent to a weekly increase of 4.19%, the best week for the Spanish stock market index since March.
Compared to Thursday’s close, the index has experienced a rise of 0.36%, remaining on the verge of recovering 9,400 points.
“The factors that have stressed the markets in recent weeks have eased. The conflict in the Middle East has taken a backseat, oil has returned to its annual average and bond yields have moved away from highs. “, indicated XTB analyst, Joaquín Robles.
This week the decision of the United States Federal Reserve (Fed) to keep interest rates unchanged for the second consecutive meeting was announced. Despite this, the president of the organization, Jerome Powell, warned that it was necessary to take the data with caution, given that it cannot be ruled out that monetary policy is at a sufficiently restrictive level.
A day later the Bank of England met, which also decided not to make changes to the price of money, leaving it at its highest level since 2008.
At the business level, this week the results of Unicaja Banco, Viscofan, Applus, Reig Jofre, BBVA, Endesa, Indra, Prosegur, FCC, Aena and Grifols, among others, were released.
Likewise, the telecommunications sector has marked the news of the week. On the one hand, Zegona announced that it was taking over Vodafone Spain for 5,000 million euros, while SEPI admitted that it is studying taking a stake in Telefónica.
Regarding the macroeconomic agenda, this week it was known that Spain’s inflation closed October at 3.5%, unchanged compared to September; while in the euro zone as a whole it moderated by 1.4 points, to 2.9%.
In this context, on Friday, the main bullish values were Cellnex (+3.92%), Solaria (+3.83%), Acerinox (+3.31%), Fluidra (+3.16 %), Acciona Renewable Energies (+3.06%), Telefónica (+2.77%), Acciona (+2.75%) and IAG (+2.28%).
On the opposite side, Grifols has fallen 1.94%, after having achieved its largest increase in one day in its history on Thursday. Behind them were Indra (-1.75%), Repsol (-1.71%), Rovi (-1.49%), and Naturgy (-1.48%), impacted by the ex-dividend effect.
In the rest of Europe, the data has been mixed in its daily evolution. London and Paris have fallen by 0.39% and 0.19%, respectively. Frankfurt has risen 0.30% and Milan, 0.76%.
At the close of the European trading session, a barrel of Brent fell 1.39%, to $85.64, while West Texas Intermediate (WTI) stood at $81.17, 1.60% less.
In the debt market, the yield on the Spanish bond with a 10-year maturity has stood at 3.684%, compared to the 3.769% observed at the close of Thursday. In this way, the risk premium against German debt has stood at 103.8 basis points, 1.3 points less.
In the currency markets, the euro appreciated 1.10% against the dollar, reaching an exchange rate of 1.0739 ‘greenbacks’ for each unit of the community currency.
During next week, results from companies will continue to be known, including Telefónica, Cellnex, Naturgy or ACS, as well as Amrest or Almirall.
Within the macro agenda, on Monday the composite PMI of the euro zone will be known; on Tuesday, China’s trade balance, industrial production in Germany and Spain and industrial prices in the euro zone; on Wednesday, German inflation and euro zone retail sales; on Thursday, China’s inflation; and on Friday, the GDP of the United Kingdom.
Next week the meetings of both the Eurogroup and Ecofin will also take place.