The Ibex 35 breaks its four-week positive streak and loses 11,000 integers

MADRID, 5 Abr.

The Ibex 35 breaks its four-week positive streak and loses 11,000 integers


The Ibex 35 today broke its streak of four consecutive positive weeks, falling 1.43% in the first of April, which has led it to say goodbye to 11,000 integers. In fact, on Friday, it lost 1.58%, which brought it to 10,916.00 points, with almost all of its values ​​'in red'.

XTB analyst Joaquín Robles points out that this situation is a consequence of a possible "delay" in the first interest rate cuts given the "strength" of economic data in the United States, which has "cooled" the expectations of the investors.

In this sense, the US employment report released today highlights that the US economy generated 303,000 new non-agricultural jobs during the month of March, a figure higher than the 270,000 created in February. , while the unemployment rate fell one tenth, to 3.8%.

In Europe, on the other hand, inflation data for March showed that prices continue to slow, which has reinforced the idea that the first rate cut could occur in June.

However, doubts regarding the United States have dragged down the rest of the markets, a situation that investors have also taken advantage of to take profits after the strong increases accumulated since the October lows.

"It is important to put the recent increases in context, since the main world stock markets have accumulated vertical increases of more than 20% since the October lows. The Ibex has risen more than 22% since then and 8% cumulatively for the year" , highlights Robles.

In addition, it stands out that oil could once again exert inflation pressures, since this week the barrel of Brent has once again exceeded $90 for the first time since the end of October due to the increase in geopolitical tensions in the Middle East.

In fact, at the close of the market in Spain, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 0.67%, to 91.27 dollars, while that of Texas stood at 87 .06 dollars, 0.55% more.

Next week investors will be attentive to the March CPI data in the US and the rate decision of the European Central Bank (ECB). Regarding this last issue, Robles points out that no changes are expected, although the focus will be on the subsequent press conference, where there could be questions about the moderation of the CPI in the eurozone.

"As for the CPI data from the United States, a new data above expectations would push away the first cut and could spark greater volatility in the markets," warns the XTB analyst.

With respect to today's session on the Ibex 35, only three values ​​have resisted in 'green': Rovi, which rose 1.11%, Repsol, which has gained 0.53%, and Unicaja, with a revaluation of 0.51%. The rest closed the week negatively, highlighting the falls in Acciona Energía (-4.68%), Acciona (-4.02%), Solaria (-3.18%), Enagás (-3.12%), Cellnex (-3.06%) and IAG (-3.06%).

The rest of the European stock markets also closed with falls on Friday: 1.29% in Milan, 1.24% in Frankfurt, 1.11% in Paris and 0.81% in London.

In the foreign exchange market, the price of the euro against the dollar advanced and remained unchanged at 1.0841 'greenbacks', while in the debt market the interest required on the ten-year Spanish bond climbed to 3.231% with the risk premium (the spread with the German bond) at 84.0 points.