The Ibex 35 suffers its second largest decline of the year, influenced by Inditex and values ​​in the tourism sector.

The Ibex 35 ends with notable down in the last session of the week, like most European stock markets (Ibex: -1.36%, 9,117; Dax: -1.44%; Cac: -0.88%; Ftse MIB: -0.91%; Ftse 100: -0.45%). The Spanish selective index is under pressure from the Inditex is reducing its workforce (which reflects with declines the decision of to set a minimum wage of 18,000 euros for its employees), in IAG, Grifols, Aena, Melia, Amedus… All this led to the Ibex closes for the first time in the red for a week in 2023in addition to suffering second worst autumn since the beginning of the year. On the positive side, only a few titles appear. Mapfre, Sacyr and Repsol were the best performers.

Inditex is also down due to what is happening today with Adidasof which plunges 12% and drags other textile retailers down with it. The company has indicated that it expects a single-digit decline in sales this year.which led to this slump. The sporting goods manufacturer, which last October severed its business partnership with rapper and fashion designer Kanye WestShe also said that not selling her Yeezy stock could reduce revenue by around 1.2 billion euros in 2023 and operating profit by around 500 million euros.


Beyond Friday’s declines, the week ending today was considerably calmer than the previous one. Investors seem to have have assimilated, and probably dismissed, the plans of the central banks. to contain inflation. This, added to the fact that These are less and less hawkish (while maintaining firmness).do a clear element of pressure on the stock markets has been more or less “neutralised”.

In this sense, we see that stock exchanges are more discreet. Although there are also scares, like the one today, the current market sentiment is not bad.

the ibex now test the 9000 point mark After losing short-term support at 9,124 points.. César Nuez, analyst at Bolsamanía and head of Trader Watch, wonders if the long-awaited fix has arrived I have been warning you for some time, given the high level of overbought.

» The next level of support is at the level of the 8,900 stitchesthe low points of the bullish gap left in the last days of January. Pay attention to its behavior at these prices because if it fails to hold, it is very likely that we could see an extension of the falls to the 8,726 level,” he says.


The week ends with more relevant macroeconomic data. Today was released UK GDP, which narrowly avoided recession. increasing 0.0% quarter-on-quarter in the fourth quarter. of 2022. Meanwhile, China has announced its The January CPI, which rose from 1.8% to 2.1% year-on-year. and against the estimate of 2.2%. Core inflation, which excludes food and energy prices, rose to 1%, the highest level since June.. In the United States, the survey of consumer confidence from the University of Michigan will be one to watch this afternoon.

Also, the week ends with developments related to the tension between China and the United States on the Asian giant’s alleged spy balloon. At the beginning of the week, it was feared that the fall of the balloon by the United States would reopen the permanent crisis between the two first world economic powers. Although it seems that was not the case, the fact is that the tension between them increased. The latest news from the United States, which recovered the device at sea for analysis, has indicated that it included “multiple antennas” capable of collecting communications.. Furthermore, investigations have shown that the manufacturer of the device is linked to the army of the Asian giant.


Investors are already looking to next week, and especially to Tuesday, when a very relevant reference will be published: US CPI for January. The headline rate is expected to fall to 6.2% from 6.5% in December. In December, the CPI in turn fell from 7.1% in November to 6.5%.

As for underlying inflation, it fell in December year-on-year to 5.7% against 6% in November. For January, should fall to 5.5%..

“Investors will be watching US inflation numbers for January next week closely. If there is any sign of a further rise in prices, the market is likely to react very negatively.“AJ Bell warns.

This Friday, the consumer inflation expectations for the next 12 months.Consumer inflation forecasts, as measured by the University of Michigan’s Consumer Confidence Survey, rebounded in February to 4.2% from 3.9% in January, breaking a streak of four consecutive months of decline.


The euro is trading at $1.0677 (-0.54%). Oil increases by 2%. Brent is at $86.39 and WTI at $79.71.

The website gold fell 0.45% to $1,870 and silver fell 0.58% to $22.

Bitcoin lost 1.5% ($21,649) and Ethereum lost 3.2% ($1,524).

The yield on the US 10-year bond is 3.726%.

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