The Ibex saves one of the busiest weeks of the year for the financial markets and ends in a positive balance. The Spanish stock market reference closes this Friday with a weekly rise of 1.2%, which leads it to 9,685 points, an area of annual maximums, despite the fact that it has easily exceeded 9,700 intraday points. The selective breaks resistance and puts the finishing touch on a few days full of tension in which the electoral blockade after the elections last Sunday has been left in the background in the eyes of the financial markets due to the avalanche of results businesswoman lesy the rises of the central banks.
In this context of commotion, telecommunications and banking are the sectors that lead the rises in the Spanish index. Specifically, Indra and Telefónica stand out, with rebounds of 6.4% and 5.4%, respectively. Investors have launched to buy two companies of these titles before the upward revision of the outlook for 2023. Along with these two, Cellnex Telecom also rises (+4.5%), which has confirmed its new strategy in the first part of the year based on organic growth rising even as debt rises. They are complemented by the entities that are boosted in the stock market thanks to the increase in the interest margin.
In this regard, Unicaja Banco (+6.8%) and Santander (+4.2%) are the ones that have grown the most together with BBVA (+2.9%) and Sabadell (+1.1%), time that domestic profile firms such as Bankinter and Caixabank stand out from this acceleration and are trading downward in weekly balance It remains to be seen if it maintains its tone after the European Central Bank (ECB) has softened the discourse and left the door open to a pause in rates after executing a rise of 25 basis points, until raising the reference rate to 4.25%, the same increase as the Federal Reserve, but in this case they have reached 5.5%.
Given a scenario in which world growth this 2023 could be 3%, according to the latest forecast of the International Monetary Fund (IMF), an organization that has also revised the forecast for Spain upwards, most of the index closes in green, although some heavyweights such as Iberdrola (-0.74%) and Inditex (-0.26%) are putting downward pressure. Acerinox becomes the ‘red lantern’, while Fluidra leads the ‘rally thanks to this Friday’s growth spurt and is up 16% after the corrections experienced due to the weakness of the macroeconomic environment.
The advance registered between Monday and Friday is weak in contrast to that registered in the previous week, when it added 1.4%. With all this, the boost in the annual calculation exceeds 17%, very much in line with that experienced by the rest of the main squares of the Old Continent. In weekly comparison, the Ibex remains halfway. Thus, it is below the rebounds in Milan (+2.27%) and Frankfurt (+1.8%), but above Paris (+0.6%) and London (+0.4%).
It should be noted that at the macroeconomic level,
