MADRID, 13 May. (EUROPA PRESS) –
The Ibex 35 has closed the session with a rise of 1.68%, which has allowed it to close the week with a slight revaluation of 0.1% and maintain the level of 8,300 integers, despite the volatility it has experienced equities throughout the week on uncertainty about economic growth.
In this sense, the CPI data for the United States in April has marked the evolution of the stock markets this week, indicating that inflation could have peaked (with an advance of 8.3% compared to 8.5% registered in March ), although the figure was above the level forecast by the market consensus, of 8.1%.
Thus, US stock markets fell sharply on Wednesday, the day of publication of the CPI data, dragging down European stock markets on Thursday. However, in this Friday’s session, the Ibex 35 has managed to recover positive ground and close the week ‘in green’.
The XTB analyst points out that the panic has also been noted in the cryptocurrency market, with the “collapse” of the third stablecoin and its reference token, the USD Terra and Terra/Luna. Bitcoin also fell this week, falling to $28,000, although this Friday it has returned to the $30,000 level.
In the Ibex 35, the ‘most punished’ values in the week have been Meliá, Naturgy, Rovi and IAG, with falls of more than 6%. Regarding the hotel company, García points out that investors would be worried about the summer tourist campaign; On the other hand, the energy company, despite the good results, has received a blow from investors in today’s session due to the volatility in the energy outlook.
It should be noted that this Friday the Government, in an extraordinary Council of Ministers, has approved the mechanism to limit the price of gas for electricity generation to an average of about 50 euros per megawatt/hour (MWh) for a period of twelve months.
Regarding IAG, García maintains that it has been penalized by investors “by seeing how the airline is going to increase the variable remuneration of its CEO, Luis Gallego, from 100% to 150%.
Among the increases registered this week in the Ibex, the banks stand out, recovering from the falls experienced in previous weeks. BBVA leads the table followed by Sabadell, Bankinter and Santander. Grifols is in the middle of the banking sector, which “struggles to get away from the minimum zone in its price and due to problems in the plasma supply chain, its main business,” says the XTB expert.
In raw materials, the biggest falls were recorded by metals, with an average drop of more than 5%. Gold tries not to lose the support of 1,800 dollars, while silver does the same at 20.5 dollars per ounce.
In energy, the barrel of Brent has recovered 110 dollars, while West Texas, the benchmark in the US, exceeds 107.5 dollars a barrel. García affirms that, in both cases, “it seems that the intention of breaking key resistance zones could trigger the price for next week.”
For next week, investors will pay attention to the US retail sales data, due to be published on Tuesday, with the forecast of a “slight reversal” compared to the previous data, which would show a drop in the sentiment of the consumers on economic expectations.
On Wednesday it will be the turn of the CPI of the United Kingdom, which also estimates a cooling compared to the month of March, while on Thursday the minutes of the last meeting of the European Central Bank (ECB) will be published.
Also in the penultimate session, US real estate data will be released which may show “clear signs of overheating”. “Currently, the relationship between the average price of housing and the average salary is at historical maximum levels, well above the levels of the subprime crisis of 2008,” adds García.
As for the session this Friday, the Ibex 35 has closed with an advance of 1.68%, which has led it to stand at 8,338.1 integers.
Investors are still pending the evolution of the war in Ukraine and the infections in China. White House spokeswoman Jen Psaki has stated that the United States will support Finland and Sweden’s application to join the Atlantic Alliance, as they are “close and valuable defense partners” of both Washington and NATO. .
On the other hand, it has been published that the Consumer Price Index (CPI) fell by 0.2% in April compared to the previous month and cut its year-on-year rate by 1.5 points, to 8.3%, due to lower prices. of electricity and gasoline.
On the other hand, the industrial production of the eurozone registered a drop of 1.8% in March compared to the previous month, when it had increased by 0.5%, while in the whole of the European Union (EU) it fell by 1, 2%, after having grown by 0.6% in February, according to data published by Eurostat.
In this scenario, the biggest increases this Friday have been scored by Fluidra (4.78%), Solaria (4.53%), Merlin (3.89%), Rovi (3.39%), Grifols (3, 30%), PharmaMar (3.12%) and BBVA (3.01%).
On the contrary, only Naturgy (-1.44%), Almirall (-1.14%), whose shares were listed today ex-dividend, Red Eléctrica (-0.43%), ACS (-0, 33%), Mapfre (-0.12%) and Telefónica (-0.06%).
The rest of the European stock markets have also closed with advances of 2.56% in London, 2.52% in Paris, 2.10% in Frankfurt and 2.05% in Milan.
The price of a barrel of Brent crude oil, a benchmark for Europe, stood at 111.01 dollars, with an increase of 3.31%, while the barrel of WTI oil, a benchmark for the US, rose by 3, 76%, up to $110.13.
Finally, the price of the euro against the dollar stood at 1.0410 ‘greenbacks’, while the Spanish risk premium stood at 103 basis points, with the interest required on the ten-year bond at 1.995%.
3
