The Ibex 35 continues to advance on its highs at the end of the week and is approaching 11,000 integers

MADRID, 22 Mar.

The Ibex 35 continues to advance on its highs at the end of the week and is approaching 11,000 integers


The Ibex 35 is in its third positive week, with an advance of 3.25%, which has brought it to 10,943.2 integers, the highest since mid-2017, and which means approaching the level of 11,000. points.

Furthermore, the Madrid selective has had its best week since last November, and this despite the 6.03% drop that Grifols has registered after yesterday's closing the report that the National Market Commission was released. of Securities (CNMV) prepared about the company.

In the report on Grifols, the CNMV has found "relevant deficiencies" in the annual accounts, specifically in the detail and accuracy of the breakdowns and explanatory notes that support the figures, although the supervisor has pointed out that it has not identified "significant errors" in the results, so it has not currently identified the need to carry out any reformulation of its financial statements.

For its part, Grifols, in response to the CNMV, has assured that it is committed to improving its transparency and expanding the breakdowns of its financial information following the supervisor's recommendations.

Regarding these deficiencies, the supervisory body has referred to the financial information in some years of the period analyzed and in the presentation of alternative performance measures (APM), in particular the gross operating result (Ebitda ) and the debt to Ebitda ratio.

Grifols' stock has registered high volatility, with falls that have exceeded 9% and increases of more than 8%. Finally, it closed with that 6% drop and with a price of 7.91 euros per title.

For its part, Banco Santander will allocate more than 6,000 million euros in cash dividends and share buybacks against its 2024 results, in line with its shareholder remuneration policy, as announced this Friday by the president of the entity, Ana Botín, during the general meeting of shareholders to be held by the bank in Boadilla del Monte (Madrid).

On the macroeconomic agenda this Friday, it was learned that the confidence of German businessmen has improved substantially in March, as reflected in the index prepared by the Munich Economic Research Institute (Ifo), which stood at 87.8 points. from 85.7 the previous month, its highest reading since June of last year.

For its part, in Asia it has been published that the reference inflation rate in Japan, the one that excludes the impact of the price of fresh food, stood at 2.8% year-on-year in February, eight tenths above the reading January and the highest in four months, according to data published by the Ministry of the Interior and Communications of the Japanese country.

Regarding the evolution of the week, XTB analyst Joaquín Robles highlighted the meetings of the central banks: on the one hand, the United States Federal Reserve (Fed) maintained hope for a rate cut in June, while Japan applied its first increase in 17 years. For its part, Switzerland "surprised" by cutting interest rates.

For the next few days, Robles believes that the markets could experience a "consolidation" process or even a "slight correction" after the weeks of results and waiting for the new central bank meetings.

"During the coming weeks, the publication of economic data will have greater relevance; there is relatively little left for the month of June, so investors are waiting to see if inflation continues to decelerate," he explains.

Among the most notable data that will be published next week, Robles highlights the CPI in Spain and the personal consumption expenditure (PCE) price index in the United States, a metric that serves as a reference for the Fed.

On this last day of the week, the Ibex 35 closed with a rise of 0.70%, driven by Acciona (2.68%), Solaria (2.67%), Endesa (2.65%) and Acciona Energía (2.30%). On the opposite side, and behind Grifols, were Fluidra (-1.44%), IAG (-1.39%), Ferrovial (-1.07%) and Indra (-0.76%).

The rest of the European indices closed with increases: 0.05% in Milan, 0.15% in Frankfurt and 0.61% in London. Only Paris has fallen 0.34% in this Friday's session.

Most of the main European stock markets registered gains at midday: Milan added 0.08%; Frankfurt 0.1% and London 0.77%, while Paris fell 0.15%.

In the raw materials market, the price of a barrel of Brent quality oil, a reference for the Old Continent, fell 0.43%, to $85.40, while that of Texas stood at $80.67. , 0.48% less.

In the foreign exchange market, the price of the euro against the dollar fell 0.48%, to 1.0808 'greenbacks', while in the debt market the interest required on the 10-year Spanish bond fell to 3.154%, with the risk premium (the differential with the German bond) at 81.2 points.