The Ibex 35 has had a very positive week and is once again moving to levels not seen since before the financial crisis. The buying pattern has consolidated in recent sessions and the tone is in line with banks and cyclicals as the main drivers of progress.
In just a few days, the index went from 14.523,5 points to write down 14.690 and finish the week in 14.824,9, which is a +4,94% weekly (best record since mid-April) and a +0,91% on the last day. Current levels leave the index one step away from the 15.000 integers and in the area of maximums not seen since 2008.
Escalation session by session
In one of the most recent days, European stock markets closed in the green and the Ibex led the advances with a + 0,9 % to 14.523,5 points, a level it had not reached since January 2008. More information on the situation of the Ibex 35 and its performance compared to other markets.
In another session, despite the geopolitical and commercial noise, the selective added a + 1,06 % until the 14.690, maintaining a very constructive tone throughout the exercise.
The week culminated with 14.824,9 points in closing, after a +0,91% daily, consolidating its best week since April and marking the threshold of 15.000 as a next psychological reference.
Europe showed a mixed signal in that latest close: London (-0,06%) and Frankfurt (-0,12%) fell slightly, while Paris (+0,44%) and Milan (+0,56%) advanced moderately.
Values that have pulled the index
The impetus has come, above all, from the Bank. During the week, BBVA (+11,04%) y Banco Santander (+10,56%) They led clearly. He also highlighted Unicaja (+6,73%) and, in the segment real-estate, Merlin Properties (+9,23%). On one of the busiest days, Sabadell sumo + 2,22 % following progress in corporate operations.
The industrial bloc provided another boost: ArcelorMittal was the protagonist with a +7,66% weekly or with a +3,04% in the last sessionWhile acerinox he managed to score + 3,28 % y ACS was revalued + 2,51 % on one of the strongest days of the selective. More details about changes in valuation of Ibex 35 values.
Among the specific supports were also Naturgy (+2,16%), Telefónica (+1,84%) y Repsol (+1,76%) in a session accompanied by the rise in oil prices, as well as Fluidra (+2,18%) at the last weekly close.
On the weaker side, Indra stepped back a -2,20% on the last day and even fell -3,23% in another session. They were also pressured, on different days, IAG (-1,99%), Rovi (-2,17%), Cellnex (-1,18%), Naturgy (-1,13%), Redeia (-1,03%), Amadeus (-0,78%) y Enagás (-0,45%), together with Grifols (-1,23%).
Factors that have accompanied the rally
The index's advance came in a complex international context, with trade tensions and mixed messages about tariffs, but with the market pricing in sectoral exemptions and less fear of an abrupt deterioration in the cycle. For a more in-depth analysis, see the positioning of the Ibex 35 among European indices.
On the domestic front, the support of Brussels to the recovery plan brought a tailwind: the The European Commission confirmed the fifth disbursement for Spain.By 23.100 million (8.000 in grants and 16.000 in loans), reinforcing investment expectations.
Market references remained stable: Brent was around $66,91 to the European closure and the WTI at 64,22, with the Spanish 10-year bond at 3,257% and the risk premium at 56,7 bpIn foreign currency, the euro/dollar stayed close to 1,1658.
At the corporate level, the market closely followed the process of BBVA's takeover bid for SabadellThe blue entity is reviewing potential cost synergies Under the conditions set by the regulator, a flow of news contributed to the positive tone of the financial sector.
