El Ibex 35 cerró la semana con un aumento del 1,66% hasta alcanzar los 11.916,3 al final de la sesión del viernes, impulsado por la desaceleración de la inflación global y la solidez de los primeros datos estadounidenses.
XTB analyst Manuel Pinto points out that this «idyllic» scenario for the stock markets increases the likelihood of an acceleration in interest rate cuts by the main central banks.
The expert highlights the «attractiveness» of «utilities» – companies that provide public services, such as Iberdrola, Enagás, Endesa or Solaria, present in the Ibex 35 – which could be the «star sector» in 2025 due to their high indebtedness, increases in the price of gas or electricity, and their high dividends.
Furthermore, the Madrid benchmark was boosted by the banking sector, which saw gains thanks to the «historic results» announced this week by the main US banks. «BBVA and Santander achieved better results than the rest of their peers, driven by the appreciation of emerging currencies, especially the latter,» he adds.
SOCIMI companies have also experienced significant increases due to expectations of increased activity in their sector and their exclusion from the measures announced by the Government for the real estate sector.
Regarding today’s meeting, Eurostat confirmed that the inflation rate in the euro area increased to 2.4% in December compared to the previous year, two tenths above the previous month’s reading, marking the largest price increase since July of last year. The core rate, meanwhile, remained stable at 2.7%.
In Spain, the growth of prices in December accelerated to 2.8% from 2.4% the previous month, placing it four tenths above the eurozone average and one tenth above the eurozone average.
In the early morning hours, it was revealed that the Chinese economy, the world’s second largest, expanded by 5% in the whole year 2024, thus meeting the official target set by the Government, according to the National Bureau of Statistics (UNO), while in the afternoon, the industrial production for December in the United States will be released.
During today’s session, in which the Ibex 35 appreciated by 0.64%, the biggest gains were made by Fluidra (+2.41%), Aena (+2.19%), Enagás (+2.03%), Puig (+1.97%), Cellnex (+1.84%), Mapfre (+1.76%), ACS (+1.30%) and Redeia (+1.25%). On the other hand, only Merlín (-1.10%), Unicaja (-0.46%), Logista (-0.34%) and Bankinter (-0.17%) closed in negative territory.
The main European stock exchanges also closed in positive territory: London and Milan rose by 1.36% and 1.34% respectively, while Frankfurt rose by 1.20% and Paris by 0.98%.
On the other hand, the price of Brent oil barrel, the reference for the Old Continent, stood at $80.90, a 0.50% decrease, while Texas fell by 0.99%, to $77.90.
In the currency market, the euro-dollar exchange rate stood at 1.0298 ‘dollars’, with a 0.03% decrease, while in the bond market, the yield on the 10-year bond moderated to 3.168% after a Three basis point decrease, with the risk premium on the German bond at 63 points.
Next week will start without reference to Wall Street, which will remain closed for Martin Luther King Jr. Day, but it will coincide with the inauguration of Donald Trump as the new President of the United States. Markets will remain alert for possible new clues about future plans, including the approval of tariffs. Earnings reports will continue in the US and will begin in Spain with Bankinter’s annual accounts.
There will also be a monetary policy meeting of the Bank of Japan, which could raise interest rates again.