MADRID, 5 years ago. (EUROPA PRESS) –
The Ibex 35 closed the first week of August with a lead of 0.14% and is consolidating at 8,100 integers, which means that the Madrid selective chain already has three positive weeks.
XTB analyst Joaquín Robles pointed out that the 8,000 points have become “one of the most relevant supports” for the index and that it only lost them temporarily in March with the start of the war. in Ukraine and at the beginning of July before the change of position of the central banks. “Gradual economic deterioration has been overshadowed by corporate earnings and employment data in the United States,” he added.
The expert pointed to the behavior of banks in the Madrid selective, which led the rises due to the prospect of further rate hikes, even if the threat of an economic slowdown has not dissipated and continues to be an element of pressure on corporate prices. .
Robles also pointed to the tensions generated between the United States and China, following the visit to Taiwan by Speaker of the United States House of Representatives, Nancy Pelosi.
“China sent warships for the first time in a long time and announced that it would paralyze negotiations with the United States on labor, defense and climate change. This situation could stop the intention of the American president Joe Biden to eliminate customs duties worth 300,000 million dollars with the objective of smoothing inflation, ”explains the analyst.
Among the references of this Friday, the report on employment in the United States stands out. The US economy added a total of 528,000 new non-farm payrolls in July, double the number expected by market consensus, while the jobless rate fell by a tenth to 3.5%. Thus, both non-farm employment and the unemployment rate have returned to their pre-pandemic levels of February 2020.
Robles stressed that this is “good news” as it could help bring about the “long-awaited soft landing” for the US economy, although it could also provide new reasons for the Reserve. federal government (Fed) to raise base rates again by 75%. points. The key will be in the inflation figure for July, which will be released next week.
Next week there will also be CPI data for China, revised inflation data for Europe and GDP data for the UK.
SLIGHT INCREASE OF 0.08%
During this Friday’s session, the Ibex 35 closed with a slight increase of 0.08%, reaching 8,168.00 integers. The advances of Sabadell (+4.33%), CaixaBank (+3.01%), Acciona (+2.10%), Solaria (+1.76%) and Acerinox (+1.74%) stood out . On the other hand, negative figures were recorded by Cellnex (-3.23%), Naturgy (-2.65%), Colonial (-1.61%), Amadeus (-1.47%), Ferrovial (-1 .44%) and Acciona Energy (-1.23%).
Naturgy has announced a postponement of the publication of its results for the first half of this year, which was scheduled for this Friday, until August 11, due to the notification today of a court decision to the contrary received by its company issuer Metrogas due to the conflict that has been going on for years due to the halt in shipments of Argentine natural gas.
Specifically, Metrogas, a Chilean company in which Naturgy holds a 55.6% stake, was convicted at first instance in a series of lawsuits brought by Argentina’s Transportadora de Gas del Norte (TGN), which emerged in 2009, when Argentina stopped supplying gas to Chile due to decisions independent of the energy company’s own subsidiary.
As for the rest of the European stock markets, they closed the session this Friday in negative, unlike the Ibex 35. London lost 0.11% in session this Friday, Paris, 0.63%, Frankfurt, 0.65% and Milan, 0.26%.
The price of a barrel of Brent-grade oil, a benchmark for the Old Continent, stood at 95.63 dollars, up 1.59%, while Texas settled at 89.9 dollars, which represents an increase of 1.6%.
Finally, the rate of the euro against the dollar stood at 1.0169 “greenback”, while the risk premium stood at 109 basis points and the yield on the Spanish bond at ten years was 2.023%.