The Ibex 35 ended the week with a fall of 2.34%, which represents its largest weekly decline since the beginning of August 2023, which has led it to lose the level of 10,000 integers. In today’s session, it has lost 0.22%.

XTB analyst Joaquín Robles highlights that the Spanish selective has fallen for the second consecutive week and has closed below 10,000 points for the first time since the end of November.

The week has been marked by the statements of the president of the European Central Bank (ECB), Christine Lagarde, at the Davos Forum suggesting that the first cut could be in June, and as well as by the statements of several members of the Federal Reserve (Fed) of the United States reiterating that there is still a way to go to bring inflation to the 2% objective.

“The rebound in inflation and the strength in the labor market has led central banks to try to cool expectations about the cuts planned for this year,” says Robles.

On a ‘macro’ level, this week the final CPI for the eurozone was released, which rose to 2.9%, largely driven by the end of some government aid to mitigate the effects of inflation.

Robles also highlights China’s GDP, which did not meet expectations and investors are concerned that the country could suffer a deflation process, due to the slow recovery of the real estate sector and due to the weakness of consumption.

In the business field, the XTB analyst points out that the Ibex 35 shares most vulnerable to increases in interest rates have once again led the falls. Thus, Solaria, Acciona, Acciona Renovables, Grifols, Colonial have already accumulated falls of more than 10% in the accumulated year.

“Grifols still has not stabilized the declines, despite the fact that this week it once again assured that it will carry out the sale of its subsidiary in China and announced that it will unify the two classes of its shares to reinforce liquidity,” says Robles.

On the rise side, the performance of Indra stood out, which is the company that rose the most on the Spanish stock market, benefiting from its exposure to the defense sector in the face of growing tensions in the Middle East and the Red Sea.

Thus, the Ibex 35 closed today at 9,858.3 integers, with a large part of its values ​​in ‘red’. The falls of Unicaja Banco (-5.46%), Solaria (-2.32%), Endesa (-2.05%), Enagás (-2.03%) and Repsol (-1.74%) stand out. On the rising side, Meliá has been the bullish value (2.00%), followed by Telefónica (1.26%), Rovi (1.04%), Sacyr (0.92%) and Amadeus (0. 72%).

The rest of the European selective markets have also closed in ‘red’ this Friday: Paris has lost 0.40%, Milan, 0.22% and Frankfurt, 0.07%. Only London has managed to revalue a slight 0.04%.

In the raw materials market, the price of a barrel of Brent, a reference in Europe, was trading at 78.85 dollars, 0.34% less, while the value of West Texas fell 0.31%, to $73.85.

In the foreign exchange market, the price of the euro strengthened by 0.1% against the dollar, up to 1.0883 ‘greenbacks’, while in the debt market the interest required on the 10-year Spanish bond was at 3.246 after subtracting almost two basis points, with the risk premium (the differential with the German bond) at 92 points.