The Spanish squad loses half of its value from its historic maximums marked just 15 years ago, nearly 16,000 points
November 8, 2007. Exactly 15 years ago, the Ibex-35 exceeded 15,945 points. Historic highs that would be followed twelve months later by the financial crisis, the eurozone sovereign debt crisis and of course the pandemic.
During this period, the selective has faced global challenges with little success. And now, around 8,000 points, the mantra that the stock market is always more profitable in the long run is being questioned. Particularly since that year 2007, the indicator has lost almost half of its value.
This year, amid inflationary pressures and a backdrop of recession fears, the Spanish stock market is down about 8%. And all indications are that the expected year-end rally will be more complex than ever, given the strong uncertainty that still exists about the future of monetary policy and its impact on growth.
In that sense, this week is again key to detecting a possible trend change in the stock markets. Investors await US inflation data on Thursday that will mark the next moves of the Federal Reserve (Fed). And that same Tuesday, the market also played a lot with the results of the elections for the majority of the mandate in the first world power.
At this point, and in the early stages of Tuesday’s session, the biggest drops were scored by Grifols (-1.81%), Sacyr (-1.56%), Acerinox (-1.44%), Repsol ( -0.97%, Merlín Properties (-0.71%) and IAG (-0.68%), while on the other hand Sabadell (+0.78%), Telefónica (+0.52%), Bankinter (+0.09%) and Siemens Gamesa (+0.08%).
On the other hand, when the euro was back on par with the dollar, the price of a barrel of Brent, a benchmark in Europe, fell in the oil market to $97, while the US West Texas price was $91.
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.
