In a week in which the Spanish stock market rose 1.85% after the Federal Reserve cut rates, Grifols lost 3.96% and Acciona Renovables presided over the fall of the IBEX by losing 6.68%. Cellnex lost 2.69%, Indra 2.55% and Endesa 2.52%.
The Spanish stock market is up this week 1.85% encouraged by the rebound of international markets after the Federal Reserve (US central bank) lowered interest rates by half a percentage point.
For the director of analysis and studies of the Foundation of the Spanish Institute of Analysts, José Ignacio Arenzana, this drop of half a point in the price of silver in the United States, which remained between 4.75% and 5%, has left a “Very positive” results from the stock marketssince on Wall Street the Dow Jones industrial average and the S&P 500 reached historic highs and in Europe the Frankfurt DAX.
For its part, the main indicator of the Spanish stock market, IBEX 35 hits annual highs and levels from April 2015 to reach 11,800 points.
The message of The Federal Reserve has brought “some calm”according to Arenzana, since to adopt this rate reduction they focused more on the evolution of employment than on inflation, in addition to affirming that they will closely observe the data to base their monetary policy decisions in the future.
As part of this procedure, the new economic estimates of the American monetary authority were known, which This year’s GDP growth has been reduced by a tenth, to 2%but this has worsened employment prospects.
Thus, many other experts have argued that the Federal Reserve promotes the soft landing of the economy and by introducing this stimulus with the fall in the price of silver, we encourage activity, which is well received these days by cyclical companies, which benefit from stronger growth.
Other consequences of the US central bank’s move can be found in relative weakness of the dollaras the euro approached $1.12 (the movement with the Japanese currency was greater, which approached 145 yen per dollar after the Bank of Japan maintained its rates at 0.25%), and in the historical highs of gold, which this afternoon reached the record of $2,625.
These days too other central banks metlike that of England and China, which have maintained their interest rates at 5% and 3.35% respectively.
This week we learned that Eurozone inflation fell by four tenths last month, up 2.2% year-on-year, and attacks on Hezbollah and Israel in Lebanon put some pressure on the price of a barrel of Brent oil, which rose more than 4% per week and approached $75.
Regarding the weekly result of the major European squaresIts performance was overshadowed by the automotive sector. Milan gained 0.58%; Paris 0.47% and Frankfurt 0.11%, but London fell 0.52%.
In AsiaTokyo gained 2.42%, while Hong Kong, where rates were cut, gained 5.91%, Shanghai 0.55% and Seoul 2.77%. Weekly gains in the main New York indexes were around 1.5%.
Large IBEX companies, BBVA gains 5.27% (larger increase in IBEX); Banco Santander advanced by 3.47%, Inditex by 3.26%, Telefónica by 1.98% and Iberdrola by 1.16%. Repsol fell 1.52%.
After BBVA, it was IAG with a weekly profit of 4.96%ArcelorMittal rose by 4.73%, Acerinox by 4.16% and Mapfre by 4.0%.
