The IBEX 35 climbed above 8,200 points on Monday after rising about 0.7%. It was caused by the contagion of the uptrend that both major European markets and the North American stock market are experiencing.
US stock futures and European stock prices rose during the August 8 session.
Bond yields pared their recent rise and investors weighed the prospects of further aggressive rate hikes by the US Federal Reserve.
Opening:8,220.90Closing:8,168.00
Max:8,257.90My:8,193.30
Effective(m):216.938€
| Period | Variac. % | Maximum | Minimum |
|---|---|---|---|
| The week | 0.14 | 8,230.70 | 8,049.80 |
| This year | -6.26 | 8,992.70 | 7,287.70 |
| last 12 months | -7.57 | 9,198.10 | 7,287.70 |
| Value | Price | By | EPS | Rent./Div. | Payment | Alpha | Beta | Promotion of public relations | Annual volatility |
|---|---|---|---|---|---|---|---|---|---|
| ACTION | 200.20 | 24.95 | 8.03 | 1.76 | 0.44 | 0.06 | 0.50 | 2.32 | 25.50 |
| JAN ACT | 41.82 | 22.31 | 1.87 | — | — | — | — | 2.46 | — |
| ACERINOX | 9.42 | 2.57 | 3.66 | 5.31 | 0.14 | -0.02 | 1.34 | 0.93 | 33.72 |
| ACS | 23.46 | — | — | 14.28 | — | 0.01 | 1.17 | 1.15 | 29.47 |
| AENA | 126.90 | 42.45 | 2.99 | 5.46 | 2.32 | 0.07 | 0.62 | 2.97 | 20.05 |
| Price | Variation | ||
|---|---|---|---|
| RAILWAY | 25.57 | -0.35 | -1.35% |
| SACYR | 2.22 | -0.01 | -0.54% |
| GAM SIEMENS | 17.92 | 0.00 | 0.00% |
| TELEPHONE | 4.28 | 0.00 | 0.02% |
| REC | 19.06 | 0.02 | 0.11% |
Inflation continues to occupy a central scenario
The end of the week provided a reality check for investors who were most betting on the Fed’s alleged “pivot down” after Friday’s jobs numbers in United Statesand comments from various Fed members that “there was still work to do” to control inflation, bolstered the case for further rate hikes.
To gather more information on whether this jobs data translates into a delay in the expected peak of inflation, we will have to wait until Wednesday.
On that day, the United States Statistical Institute will publish the figures for the rise in consumer prices, which will help put the North American economic situation into perspective, as well as the correlation of stock markets such as those in Europe.
From Bankinter, yes, they pointed out that North American inflation will be the most striking benchmark of the week, “especially if it confirms a loss of inertia compared to +9.1% in July”.
In the eyes of the financial entity, this drop would be reasonable due to the moderation in oil prices in July.
The IBEX 35 is looking to sign its fifth day of increases
Despite the market looking for more signals to help discern how the US central bank will act, stock markets, as mentioned, are pricing in Fed moves with a general uptrend.
In the case of IBEX 35 – which benefits from the weight of a bank which can benefit in a context of rising rates, despite Sánchez’s interventionism -, could end the session by signing its fifth day of increases if it closes its day with this increase around 0.7%.
If the day ended with this rise, the benchmark indicator for the Spanish stock market would be up 1.89% since August 2, and more than 2.1% since Spanish government announced the imposition of an extraordinary tax on banks, cutting almost 3% within 3 days of this communication.
During the day of August 8, however, it was not the banking securities that pulled the stock market index the most, but an Inditex which relied on the good results presented by Zalando to trigger your assessment.
The textile giant led by Marta Ortega jumped nearly 2.5% at 2:25 p.m. Monday August 8, taking its share price to 24.7 euros.
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