After falling 1.92% this Friday
MADRID, 17 Mar. (EUROPA PRESS) -
The Ibex 35 has closed at 8,719.3 integers after losing 6.09% in the week, marked by the volatility caused in the markets by the collapse of Silicon Valley Bank (SVB) and the rescue of Credit Suisse.
This is his second consecutive week in 'red'. In this Friday's session, the selective has closed with a decrease of 1.92% and almost all its values in negative before the rescue of the First Republic Bank by the large US banks, which will inject 30,000 million dollars into the entity ; the extraordinary meeting held by the European Central Bank (ECB), and the first 'quadruple witch hour' of the year, a phenomenon that usually causes high volatility in the markets.
Regarding this last phenomenon, it is a session in which options and futures on indices and shares expire in both Europe and the United States. In Spain, Bolsas y Mercados Españoles (BME) has notified that, due to these maturities, the calculation of the settlement price at March expiration has been adjusted and has clarified that said adjustment is a consequence of the volatility auctions in Santander during the period of settlement today.
Thus, the settlement price at final maturity of the Ibex 35 was 8,678.6, while the settlement price at final maturity of the Ibex 35 Banks was 547.6.
Thus, the values that have ended in positive today have been Repsol (1.35%) and Acciona (0.45%). On the other hand, the biggest falls were registered by Santander (-4.65%), Meliá (-4.45%), Aena (-4.08%), BBVA (-3.49%), Cellnex ( -3.45%) and Sabadell (-3.14%).
Regarding the evolution of the week, the XTB analyst, Joaquín Robles, has indicated that the Madrid selective, due to its exposure to banks, has suffered more than the rest of its European counterparts due to fear of a new financial crisis that has unleashed the volatility of markets that were "at all-time highs".
However, it is worth noting that the Ibex 35 has managed to stabilize the falls in the last section of the week and still maintains an annual revaluation above 8%.
By companies, beyond the banks, Robles points out that Grifols continues "its particular collapse", approaching the lows of last year. "The recent rise in rates and the lack of transparency in explaining how it will manage the high debt is weighing on investors," he says.
The week was also marked by the CPI data in the United States for February, which met expectations by standing at 6%, representing the eighth consecutive month of decline, as well as the 50 basis point rise in interest rates. rate approved by the European Central Bank (ECB). In addition, given the financial instability, the supervisor has shown itself willing to offer liquidity to banks if they need it.
Next week will be marked by the meeting of the Federal Reserve (Fed) of the United States, with its sights set on the road map that the central bank will take before the collapse of SVB, while the main fear of investors is the appearance of some other entity vulnerable to a crisis.
There will also be a rate decision in the UK. Among the 'macro' data, the investment confidence index in Germany stands out.
On the other hand, the rest of the European stock markets have closed negative today, although to a lesser extent than the Ibex 35. Milan has fallen 1.64%, Paris, 1.43%, Frankfurt, 1.33% and London, 1.01%.
On the other hand, the price of a barrel of Brent quality oil, a reference for the Old Continent, stood at 73.04 dollars, with a decrease of 2.24%, while Texas stood at 66.77 dollars, after falling 2.31%.
Finally, the price of the euro against the dollar stood at 1.0668 'greenbacks', while the Spanish risk premium stood at 108 basis points, with the interest required on the ten-year bond at 3.218%.