Invertia The Ibex 35 reaches 8,800 points at the end of its fourth consecutive bullish week

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The comeback lasted another week on the Spanish stock market. And there are four consecutive in green for an Ibex 35 that added 0.63% in its last five sessions to 8,806.6 points. Although at a slower rate than in the final stretch of last year, the good tone continued without losing sight of inflation.

Without a doubt, the evolution of the cost of living was the protagonist of the week. The world's major economies gave an account of the inflation reached in December, which in some sessions kept investors on edge. Both in the stock markets and in the secondary fixed income market.

In the case of Spain, the National Statistics Institute (INE) this Friday lowered the levels that were discounted with the publication of its estimate advanced two weeks ago. Despite that, domestic inflation shot up to 6.5%, its highest reading since 1993.

This is how the Ibex 35 closed Eduardo Bolinches

The fact that the final data turned out to be more bearable than expected and that the European Central Bank (ECB) reaffirmed its position of keeping its monetary policy tools active ended up favoring the Ibex 35. An index that, by the way, is semana celebrated its 30th anniversary marking prices as a reference for the Spanish stock market.

For its part, in the US the highest levels of the last 39 years were confirmed with the rise of the CPI to 7%, which led the Federal Reserve (Fed) to toughen its discourse on a possible withdrawal of stimuli. A disparity in response that also contributed to the 1.07% gains that the Ibex 35 has accumulated in the short time to come in 2022.

PharmaMar and Fluidra

Among the leading stocks of the week, an outstanding mention for PharmaMar, which on Tuesday posted gains of 17.9% after announcing scientific evidence on the efficacy of its drug Aplidin to combat the omicron variant of the coronavirus in patients with moderate infection.

However, the next day it returned 12.8% in the form of losses. A checkout that made the pharmaceutical company end the week with increases of just 4%.

Much stronger, up to double digits, were the gains achieved by ArcelorMittal (+11.8%) and CaixaBank (+10.2%). The podium of the week was completed by the other metallurgical company on the Spanish king index, Acerinox. With cumulative gains of 7.2%.

At the other end of the revaluation table, Fluidra was placed as a red lantern among decreases of 7.6% in the week in which it announced the opening of a debt refinancing process. Meanwhile, Cellnex joined, down 4.6% and Rovi dropped 3.5%.

Beyond the birthday index, eDreams was also the protagonist in a week marked by the debate on the advisability or not of controls on foreign investment in Spanish listed companies. The online travel agency ended the week with falls of 14.9% after having proceeded to an accelerated capital increase among institutions.

Last session of the week

As regards the last session of the week, this Friday there was no icing on the cake for the Ibex 35. The index dropped 0.12% at close, although it could be considered a success when taking into account that in the middle of the session its graph dropped almost one percentage point.

At both ends of the table, no sector is more clearly represented. Among the winners of the day were the names of Grifols (+3%), Merlin Properties (+2.3%) and Enagás (+1.9%).

On the other hand, the largest decreases were suffered by Fluidra (-3.8%), Siemens Gamesa (-3.1%) and Solaria (-2.6%). Cellnex was very close, 2.2% down.

Rising rates

In the secondary debt market, the yield on the Spanish 10-year bond rose to 0.64% due to the more hawkish speech of Jerome Powell, president of the Fed , and the greatest forcefulness in her messages from her European counterpart, Christine Lagarde.

As a result, in a week in which the Public Treasury presented its financing strategy for the current year, the risk premium against the reference German 'bunds', which also saw their negative rates ease to 0, 06%, remained at 69 basis points.

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