The week ends with a turnaround for the prices of the main European equity benchmarks thanks to the boost received by the latest rate cut from the European Central Bank (ECB) this Thursday. The Spanish stock market, on the other hand, is not making the same turn as its counterparts despite the fact that in the middle of this week the Ibex 35 led the increases in Europe. At the start of the results season on the Old Continent, just the day before ECB meeting, the selective of 35 managed to rise on the stock market and exceed its highest points of the year, breaking 12,000 points and reach levels not seen since January 2010, without however managing to close at these desired levels. Finally, the Ibex 35 finished this week below this psychological barrier, in the 11,925.2 points, and with an increase of 1.75%.
The market was disappointed by the debut of some of the first companies to publish their annual results in Europe, particularly in the technology and luxury sectors. On Tuesday, the main European producer of chips, ASML, deeply disappointed investors. The Dutch company published its results for this quarter in advance on its website the canvaswhich showed a decline in their reserves, to half of what was expected by the market consensus which includes Bloomberg. This triggered a bleeding In its share price, the firm fell by more than 15% in a single session and infected the continent’s stock markets. On the other hand, the first decline in Louis Vuitton sales was taken as a signal to withdraw positions in luxury companieswith which the rest of the companies in the sector fell, due to the weakness of the Chinese consumer.
The rate cut and the message after Thursday’s meeting calmed minds in Europe, and both companies advanced 3% over the past day, so at a weekly level the queen of chips closed with a drop of 15% while the parent company of Louis Vuitton fell around 4%. For its part, the European benchmark, the EuroStoxx 50, becomes the most bearish index of the week affected by the complicated start of the accounting season, with a drop of 0.6% on the stock market. The rest of the continent closes its doors colored of Greenled by Italian Ftse Mib, which increased its price by 2.4% in the last five days.
The Spanish benchmark remains in second position, with its 1.6% increase mentioned above, and that remains the most optimistic on the continent this year, recording 18%. The Dax advances by 1.2% each week, even if At the annual level, it is close behind the Spanish benchmark, with its increase of 17.3% on the stock market. Late in the weekly count is the Cac 40, the French Stock Exchange gains 0.57%, although its return to positive ground at an annual level that it had lost stands out, already up almost 1% this year .
The most bullish and bearish of the ibexes
On the other side of the Atlantic, the main stock exchanges listed on Wall Street closed the European close positively. The Dow Jones marks the rises with an increase of 1.85% thanks to the increase in retail sales in the United States. It is followed by the American benchmark index, the S&P 500, with 1% at the end of the session in Europe. This is the sixth consecutive week of bullish rally of the American selective, moreover, the two indices continue to trade at their all-time highs. Meanwhile, andThe technology indicator, the Nasdaq 100, was an exception, down 1.3% in the weekly count. Investors they took the disappointing ASML data as a sign of weakness for technology companies gets up At car of artificial intelligence, despite the increase TSMCwhich took the company to historic heights, but are insufficient to put the selective back on positive ground.
Last week, 25 Ibex companies managed to become positive. THE gold medal It is taken over by the multinational IAG, with an increase of 7% over the last five days. In second and third place are Endesa and Ferrovial: the companies increased their prices by 4% this week. While Solaria is this week’s red lanterndrop of 8%. For their part, Puig and Repsol fell by 3%.
On the raw materials market, we notice the fall of oil to levels not seen since January, around 72 dollars per barrel of Brent, but we also note the historic highs set by gold: 2,700 dollars. The euro, while waiting for the ECB, has once again given in to terror and is moving around $1,085.
