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Ibex 35 trims Middle East weekly loss to 2.6% after rally in past two days

The Ibex 35 mitigates the weekly loss to 2.57%, caused by the escalation of war tensions in the Middle East between Israel and Iran, after the rise of the last two days.

The Spanish selective closed Friday with an increase of 0.35%, to 11,659 points. It therefore clings to the level of 11,600 after losing 400 points in a few days.

In Europe, stock markets made bigger gains. Even London, which moved negatively during part of the session, ended up turning around and holding on to where it started.

The Italian FTSE MiB index led the day with 1.23%, while the selective continental EuroStoxx 50 index took a step forward by 0.68%.

U.S. employment data was influential. The North American country created 254,000 jobs in September, exceeding expectations which pointed towards 140,000, and again above 200,000 after the slowdown in the summer months. The unemployment rate therefore fell to 4.1%.

Regarding Spanish titles, Ferrovial left 4.45% after learning that the Canadian Ontario government is threatening to buy the world’s largest Spanish multinational infrastructure asset: Highway 407 ETR. Ferrovial holds a 43.23% stake.

The most bullish stocks, all between 2.5% and 2.2%, were Banco Sabadell, BBVA, CaixaBank, Fluidra, Indra and Rovi.

Source

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