The Ibex closes the week falling 3.3% after the rating downgrade to the US

MADRID, 4 Ago.

The Ibex closes the week falling 3.3% after the rating downgrade to the US


The Ibex 35 has closed this week, marked by the downgrade of the rating to the United States by Fitch, located at 9,368.4 points, which represents a decrease of 3.3% compared to last Friday.

Compared to the closing of Thursday, the company has closed the day with an increase of 0.66%. It has been the only session that has ended positively.

The most relevant data of the week was on Wednesday, when the selective of the Spanish stock markets and markets dropped 1.83% after learning that Fitch had downgraded the rating of the United States as a long-term issuer. This decrease was added to the 1.44% drop that he had already observed on Tuesday, after learning that the Spanish manufacturing index fell to its worst level in 2023.

"The lower trading volume characteristic of the month of August coincides with Fitch's announcement to lower the credit rating of the US sovereign debt, which precipitated the collection of benefits from markets that have risen between 15 and 30% in the first part of the year", explained the XTB analyst, Joaquín Robles.

Regarding the data for this Friday, it has been known that the Spanish industrial production for June has returned to negative rates after falling 1.4% in the interannual rate, which is 1.4 points lower than that of May, as reported the National Statistics Institute (INE); while factory orders for the same month in Germany increased by 7% in the monthly rate when the market expected a decline.

For their part, retail sales in the euro area fell by 0.3% in June in the monthly rate and moderated their decline to 1.4% in the interannual rate.

At the close of the session, Fluidra was the most bullish value, with an increase of 2.91%, ahead of Acciona (2.35%), Rovi (2.27%), Grifols (1.64%), Solaria (1.48%) and IAG (1.41%).

On the other hand, only four values ​​have closed in 'red': Indra (-1.19%), Banco Sabadell (-0.37%), ArcelorMittal (-0.32%) and Amadeus (-0.16%). .

As regards the rest of the European markets, Frankfurt has risen by 0.37%; Paris, 0.75%; London, 0.47%; and Milan has fallen by 0.41%.

At the close of the European trading session, a barrel of Brent advanced 1.16%, up to 86.13 dollars, while the West Texas Intermediate (WTI) stood at 82.58 dollars, 1.22% more.

In the debt market, the Spanish 10-year yield bond stood at 3.587%, which represents a decrease compared to the 3.641% observed at the close of Thursday. In this way, in comparison with German bonds, the Spanish risk premium has fallen seven tenths, to 102.9 basis points.

At the end of the European stock market session, the euro appreciated 0.80% against the dollar, reaching a market exchange rate of 1.1037 'green tickets' for each euro.

Next week will be marked by macro data: German industrial production on Monday; China's trade balance and Germany's inflation on Tuesday; China inflation on Wednesday; CPI for Italy and the US on Thursday; and UK GDP data and French and Spanish inflation data on Friday.