MADRID, 10 May. (EUROPA PRESS) –
The Ibex 35 has closed the week with an increase of 2.3% compared to the previous Friday, so that the price of the selective has risen to 11,105.5 points, thus recovering the level of 11,100 that it had lost the previous week .
Only in this Friday’s session, the increase has been 0.50%, which in turn has represented an improvement in the index of 55.4 points.
The week has been especially marked by volatility in BBVA and Banco Sabadell. On Monday, the Catalan bank publicly rejected the merger offer that BBVA had presented to it last week, which affected the price of both entities in the following days.
Finally, this Thursday BBVA decided to go one step further and carry out a public acquisition offer (OPA) aimed at Sabadell’s shareholders and with a hostile nature, that is, without the approval of the board of directors. Sabadell once again rejected this operation and even decided to report BBVA to the National Securities Market Commission (CNMV) for, in its opinion, violating the regulations that govern the operation of takeover bids.
Regarding the rest of the news, this week it was learned that registered unemployment in Spain fell by 60,503 unemployed in April, while Social Security gained 200,000 average affiliates.
Likewise, several listed companies also published their quarterly accounts, including Endesa, Amadeus, Fluidra, Logista, Telefónica, IAG and Rovi.
XTB analyst Manuel Pinto has framed the movement of the Spanish stock market in general economic sentiment. “The corporate publication season is beginning to come to an end and at the moment it is being one of the main bullish arguments in the market to clear up the risks of stagflation that seem to arise in the face of economic weakness and increases in inflation,” he indicated.
Only in this Friday’s session, Fluidra has been the main bullish value (7.27%), ahead of Acciona (3.15%), Meliá (3.13%), Acciona Energía (2.83%), Rovi (2.51%), Acerinox (1.96%) and Iberdrola (1.75%).
On the opposite side, only five values have ended the session in negative: Ferrovial (-2.37%), Telefónica (-1.18%), Merlin (-0.93%), Banco Santander (-0.74%) and IAG (-0.19%).
Regarding the rest of the main European stock markets, London has risen 0.63%; Paris, 0.38%; Frankfurt, 0.46%; and Milan, 0.93%.
In the raw materials market, a barrel of Brent fell 0.42% at the close of the European trading session, to $83.51, while West Texas Intermediate (WTI) stood at $78.97, a 0.37% less.
In the debt market, the yield on the Spanish bond with a 10-year maturity has climbed to 3.311%, from 3.287% at Thursday’s close. In this way, the risk premium against German debt has advanced two tenths, to 79.4 basis points.
For its part, the euro depreciated 0.10% against the dollar, until it was trading at an exchange rate in the markets of 1.0771 dollars for each unit of the community currency.
Next week will begin with the Eurogroup meeting on Monday, while on Tuesday the Ecofin will meet and will learn about unemployment in the United Kingdom and inflation data from Spain and Germany. On Wednesday it will be the turn of Eurostat, which will publish employment, GDP and industrial production data for the euro zone, while in the United States the evolution of inflation in April will be known.
The week will end on Friday with inflation data for the euro zone as a whole, as well as several indicators for China (housing prices, industrial production, retail sales and unemployment). Likewise, investors will continue to pay attention throughout the week to how BBVA’s takeover bid for Sabadell evolves.