Despite the appeal of Unicaja, the selection fails to consolidate the 8,300 points
Investors are entering the last days of the year with no major moves or interesting references and in another transition session, the Ibex-35 lost 0.14% to 8,258 points. The losses were imposed across most European indices, especially after a bearish open on Wall Street, where investors are counting the hours to close out a dismal equity year in which technology companies have been severely punished.
The biggest losses of the session were Banco Sabadell (-2.50%), whose shares were already trading without entitlement to the dividend due next Friday, followed by IAG (-2.22%), Rovi (-1 .55%), ArcelorMittal (-1.45%) and Solarie (-0.87%). Some declines outweighed the gains recorded by Unicaja Banco (+1.73%) on its second day of listing on the selective. Amadeus (+1.05%), Colonial (+0.75%), Logista (+0.51%), Cellnex (+0.45%) and Telefónica (+0.39%) followed the entity at the top of the table .
Most operators take advantage of these days to reposition their portfolios for the next 2023, but since this exercise has already been completed in which the Spanish are accumulating selective losses of almost 5%. For this reason, from Bankinter’s analysis department, they believe that the movements taking place in the markets this week cannot be considered relevant, but typical year-end adjustments.
“It is time to raise our perspective and position ourselves for 2023, where we expect the market environment to gradually improve, hand-in-hand with some central banks ending rate hikes and a more favorable macroeconomic environment, both in terms of inflation as growth.” they say.
At the moment, and just two trading sessions to close out the year, the balance for investors in the Spanish stock market has not been as negative as in other European stock markets. And it’s worse in the US, where stocks are heading into their worst year since 2008, with the Dow Jones falling more than 8.5%, the S&P 500 19.7% and the Nasdaq Composite 33.8%. where many tech giants are on the list.
Meanwhile, in the commodities market, oil prices fell slightly, with a barrel of Brent crude, the reference in Europe, at $83.7, while West Texas in the US is around $79.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
