The Ibex 35 fell 2% at the close and stood at 11,245.5 points.

The Ibex 35 ended the first week of September with a drop of one 2%to reach 11,173.0 points, affected by the declines on Wall Street – particularly in technology companies – and investors’ doubts about the evolution of US monetary policy after the arrival of weak macroeconomic data.

The Ibex 35 ended this Friday – a day in which it lost 0.89% – a sequence of three consecutive weeks of growth that allowed it to close seven days ago in the 11,400 wholeclose to the annual maximums harvested at the beginning of June at 11,444 whole.

Despite this weekly decline, the Ibex 35 has accumulated a revaluation of 10.6% so far this year.

Detailing this week’s developments, XTB analyst Joaquín Robles explained that the US labor market is once again showing signs of slowing down. weaknessleading many investors to wonder whether the Federal Reserve (Fed) has not arrived too late to avoid an economic contraction.

Specifically, data released this week in the US, such as the Jolts July job openings survey and the ADP private employment report for August, have pointed to some weakness in the labor market; similarly, benchmarks such as manufacturing activity have also appeared in this direction of weakness.

This Friday it was published that the US economy had generated 142,000 new jobs nonfarm payrolls in August, well above the 89,000 created in July, while the unemployment rate fell by a tenth to 4.2 percent.

In this expert’s view, the data was weak enough to make the Fed more dovish, but not weak enough to confirm recession fears: “It looks like we’re still on track for a soft landing,” he predicted.

Therefore, Robles said that now that central banks appear willing to start or continue the downward cycle, speculation is focusing on the pace: “Expectations for a 50 basis point cut have increased to 35%, compared to 65% for a 25 basis point move.

On the agenda European macroeconomics This week, he pointed out that the gross domestic product (GDP) of the eurozone and the European Union as a whole grew by 0.2% in the second quarter compared with the previous three months, a reason why it was reduced by a tenth for both regions from the pace of expansion seen in the first quarter, according to the third reading of data published by Eurostat.

For its part, German industrial production recorded a monthly decline of 2.4% in July, well above what the market expected, which had limited the decline to 0.4%.

In the Spanish business sector, the week was conditioned by the results of the Catalan cosmetics company Puig after having obtained a net profit group share of 154 million euros in the first six months of the year, a figure 27% lower than that of the same period in 2024.

On the other hand, the European Central Bank (ECB) notified BBVA on Thursday of its decision not to oppose the acquisition of Banco Sabadell following the public takeover bid (OPA) it proposed. This same week, it also received approval from British regulators for its indirect control of TSB, a subsidiary of Sabadell.

Likewise, it is worth noting that Repsol shares fell to the lows of late 2022 due to the collapse of crude oil prices on international markets.

Grifols also suffered significant setbacks after it was revealed that Brookfield Capital Partners had made its takeover bid for the blood products company at a lower price than the stock price.

Bouquetin 35 companies

The biggest increases in the Ibex 35 were:

• Colonial: +5.55%
• Marline: +3.6%
• Activate energy: +3.35%

For its part, the biggest declines of the Ibex 35 were:

• Puig:-16.4%
• Grifols: -7.13%
• BBVA: -7.07%

International markets

THE major European stock exchanges They were located as follows:

• Paris: -3.65%
• London: -2.6%
• Frankfurt: -3.2%
• Milan: -3.15%