The Madrid Stock Exchange’s Ibex 35 grew 2.7% in April and 9.2% in the first four months of the year, meaning the stock index is trading at record highs annual driven by macroeconomic data and trade performance. More specifically, during this Friday’s session, macroeconomic data was released in Spain and Europe, as well as the trading results of BBVA and Banco Sabadell. However, the Ibex 35 remained practically flat (-0.09%) and defended the entire 8,800, reached last Thursday. BBVA managed to return to pre-Covid levels after earning 1,210 million through March, while Sabadell achieved a quarterly result of 73 million, 22.1% lower, with its UK subsidiary TSB in profit. The two banks today led the hikes in the Ibex 35, with hikes of 8.74% for Sabadell and 2.64% for BBVA. Also in “green”, Red Eléctrica (+ 1.77%), Ferrovial (+ 1.50%) and Aena (+ 1.30%) stood out. On the contrary, the biggest declines were presented by PharmaMar (-3.75%), Arcelormittal (-2.67%), Amadeus (-2.44%), Meliá (-2.35%) and Repsol (- 2, eleven%). The rest of the European stock exchanges closed with uneven behavior, with an increase of 0.12% in London and declines of 0.53% in Paris, 0.12% in Frankfurt and 0.56% in Milan. In this context, a barrel of West Texas Intermediate (WTI) oil, the benchmark for the United States, was listed at 63.43 dollars, while Brent, the benchmark for Europe, marked a price of 67 , $ 21. Finally, the price of the euro against the dollar stood at 1.2035 “greenback”, while the Spanish risk premium stood at 66 basis points in the early stages of the session, with l interest charged on ten years bonds at 0.473%. Breaks the resistance 8,650 points Joaquín Robles, analyst at XTB, the vaccination campaign continues to advance, but not enough to relax current restrictions. However, it appears that the Ibex 35 has broken the resistance of 8,650 points and has accumulated a revaluation close to 10% so far this year. Regarding the revaluation of 2.7% in April, Robles points to three factors: the improvement of the economic outlook, the monetary policy of central banks and government stimuli. On a business level, most of the companies that released first quarter results are the ones that led the weekly increases, as is the case with Sabadell, Indra, Santander and BBVA. Likewise, it places particular emphasis on the inscription of Línea Directa. Robles considers it a “success” after the insurer pulled its 23% on-day value from its value. Internationally, Robles says Wall Street hit all-time highs again thanks to “strong” US GDP data for the first quarter and statements from the Federal Reserve, which reaffirmed its intention to hold rates. interest until the end of 2023. However, the US data contrasts with that of Europe, where “the readings were negative” with a German GDP contraction of 1.7%. XTB expects next week to continue to be marked by the evolution of the pandemic, business results and economic data, such as employment in the United States. As for the Ibex 35, after having passed 8,650 points, its next resistance is 9,000 points.
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