- Banco Popular led the losses again after falling 3.3%
- Wall Street remains closed for Thanksgiving
- European Central Bank has warned of the risk of a sharp reaction in global markets
A session of transition for the Ibex and other European markets, which have once again seen narrow ranges without the Wall Street reference, which is closed for the Thanksgiving holiday in the US. In the specific case of the Spanish index, it remained fairly flat, without leaving the 8,600 points area. It hit a maximum of 8,672 and a minimum of 8,614, and finally closed with a slight rise of 0.34% to 8,657.20.
- 0,317€
- 0,00%
- 19,180€
- -1,03%
- 11.659,200
- 0,35%
The best performer of the day was Inditex, which rose more than 2% after analysts from Deutsche Bank predicted that its results in December would maintain a level of 33 euros per share.
Another of the stocks in the green today was Endesa. After increasing its dividend on Wednesday, analysts from UBS increased the value of its shares for 12 months to 19.50 euros, from 18.40 euros.
On the negative side, Banco Popular once again led the losses between the Ibex 35 and the banking sector, after falling 3%. Santander fell by 0.8% and BBVA by 0.3%. In addition, Telefonica also fell by 0.3%.
The banking sector is also facing troubled times in Italy, as the days are counting down towards the country's referendum on constitutional change, and the uncertainty appears to be affecting other European markets.
The minutes of the last meeting of the US Federal Reserve were released on Wednesday with European markets already closed, but further optimism from the members of the board suggests that there will be a rise in interest rates in December.
On Thursday, the European Central Bank warned of the risk that a hasty correction could do to global markets which are suffering from political uncertainty, which affects the banking sector, stability and economic growth.
Germany published its GDP report for the third quarter, which remained at 1.5% growth as expected. In Spain, it has also grown but less (0.7%) in the third quarter. The inter-annual rate of the GDP was situated at 3.2%, 0.2% less than the second quarter. Even though consumption keeps growing, investment hit the brakes and barely registered a 0.1% rise.
Bolsamania technical analyst José María Rodríguez said that it was "one of the least volatile weeks of the year for the Ibex. "It doesn't look like it could fall towards 8,540, nor does it look capable of threatening 8,756."