MADRID, 18 Ago. (EUROPA PRESS) –
The Ibex 35 has lost 1.79% in the week, which has led it to stand at 9,267.7 integers, although at the close of the session this Friday the fall that it has dragged has moderated to 0.11% throughout the day.
The XTB analyst, Manuel Pinto, points out that the week has been marked by volatility and political, social and economic instability, which has led to widespread falls in the main global indexes. However, the most important factor in recent days has been the doubts surrounding the Chinese economy, exacerbated this Friday after learning that the Chinese real estate company Evergrande has filed for bankruptcy in the US.
Pinto points out that China has decided to lower interest rates by surprise in order to stimulate the economy, which has caused a devaluation of the yuan and greater pressure on prices.
In the US and Europe, good macroeconomic data continues to put pressure on central banks as they try to contain still-elevated inflation, which is causing bond yields to rise to levels not seen in 15 years. “This not only has implications when it comes to raising interest rates on debt for individuals, governments or companies, but also affects the valuation of technology companies that have suffered moderate penalties in recent days,” says the expert.
In the Ibex 35, the largest corrections during the week have been registered in the sectors most closely linked to the economic cycle. Although the vast majority of companies end in negative, Pinto highlights the “erratic” behavior of the ‘utilities’, which correct in line with the increase in the rise in bonds.
In Friday’s session, the biggest falls were for Grifols (-2.07%), Colonial (-1.95%), ArcelorMittal (-1.70%), Merlin (-1.49%), Bankinter ( -1.39%) and Fluidra (-1.32%). On the rise side, those of Acciona Energía (1.35%), Solaria (0.97%), Telefónica (0.64%), Endesa (0.59%) and Iberdrola (0.57%) stood out. .
Among today’s references, the year-on-year inflation rate in the euro zone stands out, which fell two tenths in July compared to the previous month, thus reaching 5.3%, which represents the lowest increase in prices since January 2022 , according to the second estimate of Eurostat. However, the underlying rate held steady at 5.5%.
In Japan, the CPI for July reflected a moderation in its interannual rate to 3.1%, but a rise in subjacent inflation of one tenth, to 4.3%, the highest since 1981.
Like the Ibex 35, the main European stock markets have also closed in the red: London and Frankfurt have lost 0.65%; Milan, 0.42%; and Paris, 0.38%.
On the other hand, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 0.29% to 84.35 dollars, while Texas stood at 80.74 dollars, 0.44%. further.
In the foreign exchange market, the price of the euro against the dollar remained at around 1.0870 ‘green bills’, while in the debt market the interest demanded on the 10-year Spanish bond relaxed to 3.667% and the risk premium remained at 105 basis points.
