The Ibex 35 rises 1.19% in the week and closes at maximums after central banks, results and macro data

MADRID, 28 Jul.

The Ibex 35 rises 1.19% in the week and closes at maximums after central banks, results and macro data


The Ibex 35 has concluded the week with a revaluation of 1.19% and has closed in the zone of the maximum of the year that it reached yesterday -on the verge of 9,700 points- despite the slight drop on Friday, finally reaching the 9,685.1 points.

All this in a week in which both the US Federal Reserve (Fed) and the European Central Bank (ECB) have raised interest rates by a quarter of a point and the market has digested a notable amount of business results and macroeconomic benchmarks. in the form of data on economic activity (GDP) and inflation.

The main indicator of the Spanish market thus chains its third consecutive week of rises (the best run since April) after the Fed raised interest rates to 5.25-5.5% this Wednesday and the ECB did the same on Thursday , up to 4.25%, to tackle the respective inflation rates of both regions.

In this sense, this Friday it was published that Spanish inflation increased by 0.1% in July in relation to the previous month and raised its interannual rate by four tenths, up to 2.3%, mainly due to the rise in prices. fuel prices and tour packages; while GDP grew by 0.4% between April and June (one tenth less than in the previous quarter), while its interannual rate moderated by more than two points, from 4.2% in the first quarter to 1.8 % in the second, due to the lower contribution of the foreign sector.

For its part, year-on-year inflation in Germany moderated to 6.2% and core inflation to 5.5%; and, on the other side of the Atlantic, PCE inflation in the United States -one of the Fed's reference measures when evaluating its monetary policy- moderated in June to 3% year-on-year, while core has dropped to 4.1%.

Also in the United States it was revealed yesterday that GDP registered growth of 0.6% in the second quarter of the year (in annualized terms it accelerated its expansion to 2.4% from 2% in the first quarter).

Within the Ibex 35, after the avalanche of business results in the first half of the year, it can be seen that the large Spanish banks (the six bank stocks in the index, with great weight in the total calculation) earned 12,385 million euros, almost 21 % more than in the same period last year.

After the sum of all these factors, the advances in the weekly calculation have been led by Fluidra (16.34%); IAG (6.93%); Unicaja (6.84%); Indra (6.38%); Telefónica (5.45%); Cellnex (4.46%); Banco Santander (4.22%); ACS (4.17%); Mapfre (4.06%) and ArcelorMittal (3.46%).

At the opposite extreme, the most bearish values ​​of the week have been Acerinox (-3.96%); Caixabank (-2.89%); Amadeus (-2.52%); Bankinter (-2.46%); Grifols (-1.65%); Solaria Energía (-1.35%) and Endesa (-1.28%).

The rest of the European markets have also registered advances during the week: Paris has risen by 0.59%; London 1.52%; Frankfurt 1.81% and Milan 2.24%.

The selective has closed this Friday with a fall of 0.1%, despite the fact that it reached above the barrier of 9,700 points during the negotiation, after receiving a battery of business results from its listed companies, which was not has prevented it from remaining in the zone of annual maximums and levels that were previously not seen since February 2020.

Within the Ibex 35, the results of the following listed companies were announced this Friday: Caixabank increased its profit by 35.8% in the semester and BBVA did so by 31% (the six selective bank stocks thus raised their joint profit by a twenty%); Sacyr earned 52% more, while Fluidra reduced its profit by 18% and Mapfre by 6%.

For its part, the IAG airline group has announced that, compared to last year's losses, this semester it has earned 921 million euros, and Amadeus has doubled its profit, up to 540 million.

Likewise, other listed companies in the continuous market have presented their accounts: Técnicas Reunidas has announced that it is losing losses and that it earned 38.5 million euros in the semester, as well as OHLA, which has earned 600,000 up to June, while FCC increased its profit by 13%, Tubos Reunidos achieved a net profit of 54 million (compared to the two it earned a year earlier) and Cepsa has seen its profit reduced by 69%.

Given this situation, within the main Spanish stock market indicator, the rises of Fluidra (10.07%), IAG (6.14%), Cellnex (4.4%), Mapfre (3.56%), Indra (2 43%), BBVA (1.55%) and Inmboliaria Colonial (1.12%).

At the opposite extreme were Amadeus (-4.42%), Rovi (-3.58%), Acciona (-2.68%), Banco Sabadell (-2.03%), Caixabank (-1.62% ), Acerinox (-1.57%), Sacyr (-1.35%) and Acciona Energía (-1.17%).

At closing time in Europe, the price of a barrel of Brent quality oil, a reference for the Old Continent, fell 0.3%, to 84 dollars, while Texas stood at 79.76 dollars, 0 ,4% less.

In the foreign exchange market, the value of the euro appreciated 0.52% against the "green ticket", to 1.1037 dollars, while the interest on the long-term Spanish debt closed at 3.506% after add three basic points, with the risk premium (the differential with the German bond) at 101.7 points.

Within the market agenda for next week, Renta4 analysts have highlighted inflation in the euro area in July, as well as GDP in the second quarter; while in the United States employment data will be released (Jolts survey for June and official ADP employment and private report for July) and economic activity indicators (prepared by ISM).

In addition, the Bank of England will hold its monetary policy meeting and economic activity data will be published in China, while the season of corporate results will give its last throes on both sides of the Atlantic.