With only one session remaining until the end of September, the European and American stock markets are closing this week in a very positive manner, particularly for the Old Continent which has gained more than 2% over the last five days. The Ibex 35 continues to stand out from its counterparts. This Friday it managed to once again renew the maximum price levels of the year, touching 12,004 points at the start of this session, although it closed at 11,967.9 points; had not reached this psychological level since January 2010. This continues in full rally bullish, and follows the pace of annual increases in selectives across the Atlantic, with an increase of 18.68% in 2024.
Although the Ibex 35 continues to be crowned as the most bullish index on the continent during the year, on a weekly level the Dax, the Cac 40 and the EuroStoxx stand out from the rest of the continent, as they become the selective indices which It is the one that has increased the most over this period, registering around 4% in all cases, a figure higher than what the American indices recorded at the close. While the Italian FTSE Mib and the Ibex 35 increased by 2.9% and 2% respectively.
China was one of the most important factors to encourage investors, after the announcement of a historic stimulus plan by the Chinese central bank. One of the goals is to reactivate the Asian country’s disgruntled economies, but analysts see it as an attempt to stabilize its stock market, thanks to the investment plan of 114 billion dollars, which will allow stockbroking companies and investment funds to benefit from financing from central banks to buy shares.
And in Europe, everything related to China affects the price of key sectors such as companies dedicated to luxury, due to the weight that the consumer of the Asian country has in this sector. The index that tracks these companies appreciated by 12.3% over the week, while the jacket brand Moncler is growing by almost 20% these days, followed by Louis Vuitton, Kering, Dior and Burberry, which rise up to 18%.
But the news was a particularly positive catalyst for Asian stock markets, which in the weekly tally outpaced gains in European and U.S. stocks. Hong Kong began with celebration. Over the past five days, the Hang Seng Index has climbed 13%, leading the index to rise as much as 21% year-on-year. But the Chinese benchmark was not far behind, the CSI 300, even if it took longer to start the rise, managed to exceed the rise of the Hang Seng, since it increased by 15.7% over on a weekly basis. With this increase, The index managed to return to positive territory during the yearsomething that had not happened since the end of July. Moreover, in the year, now accumulates an increase of 7.9%.
The bags also received a push particularly for the surprising stories of the American Micron, the chip company which is part of Tressis Eco 30 Walletthe investor fund advised by elEconomista.esand investors viewed its return to profit-collecting as a new roadmap for market evolution. companies that are mounted inside car of artificial intelligence.
Since the publication of its results, on the other side of the Atlantic, Wall Street rebounded in unison last Thursday and recorded increases of around 1% weekly at the close of the European session, while the S&P 500 and the Dow Jones were trading at their all-time highs. unprecedented heights, just one week after the first rate cut by the US Federal Reserve. The American benchmark par excellence shone especially on the stock market thanks to its latest achievement: 20% annual increase, even if the Nasdaq 100 also got closer to this objective, at the close of the European session it recorded an increase of 19 % in 2024. after exceeding the 19,000 point mark on Thursday. The technological selective remains at 2.7% of its historical highs.
Most bullish and bearish
It’s a good week for the Ibex, as only eight of its values close down. The most bullish of the week is ArcelorMittal with an increase of 9% thanks to the recovery measures of the Chinese central bank and the relations of steel mills with this country. It is followed by the Spanish swimming pool manufacturer Fluidra, with an increase of 6.5%. In third and fourth positions, the electricity companies Acciona Energía and Redeia, which were revalued by 4.5% and 4%. Puig is fifth with an increase of 3.8%.
Concerning oil, the barrel of Brent fell by up to 5%, following the announcement by Saudi Arabia to restore the production of black gold, regardless of the low price at which the raw material is sold. At the European close, crude oil was worth $71.55 per barrel, up from $75. On the other hand, the exchange rate of the euro against the American currency remains at 1.16 dollars at the European close.
