Despite Friday’s advance, the Ibex-35 failed to reach 8,000 points and lost more than a point and a half over the week
The Ibex-35 managed to stop and break the worst streak in its history with 12 consecutive sessions in ‘red’, scoring a 1.62% increase this Friday, closing at 7,932 points.
The weekly balance is negative, with a decrease of 1.63%. The Spanish selective has starred in his longest losing streak having previously chained 12 consecutive sessions of raises since early August. High inflation, expectations of interest rate hikes and fears of an energy crisis have led to a change in investor sentiment.
On a corporate level, the banking sector, led by Sabadell, Bankinter and CaixaBank, has seen gains on expectations of greater monetary tightening. For example, the European Central Bank (ECB) could raise interest rates by 75 basis points next week, raising interest rates and potentially boosting bank profits. On the negative side are energy-related companies, after the G7 agreed on a price cap for Russian oil.
As for Friday’s session, the Ibex-35 managed to close on a positive note, after taking note of the United States employment report, which shows that the unemployment rate in the country rose by two-tenths in the month of August. , up to 3.7%. This data has had different interpretations. On the one hand, more employment was created than expected in the non-agricultural payrolls, on the other, unemployment rose by two tenths. In fact, forecasts of a possible 75 basis point gain at the Federal Reserve’s next meeting at the end of the month are fading.
The biggest gains in Capricorn in the last session of the week were presented by Acerinox (5.42%), Arcelormittal (4.17%), Fluidra (3.9%), Repsol (3.84%), IAG ( 3.13%), Colonial (3.05%), Merlin (2.92%) and BBVA (+.82%). On the contrary, only Solaria (-4.64%), Corporación Acciona Energía (-3.06%) and Acciona (-0.21%) closed in ‘red’.
The other European stock markets also closed the session positively on Friday, with increases of 1.86% in London, 2.21% in Paris, 3.33% in Frankfurt and 2.91% in Milan. The price of the euro rose to $1,025.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
