- Ibex situated at 10,006.4 points
- Banks and Repsol push the index to impressive level
- Market keeps celebrating Draghi's speech and awaits Yellen
- En castellano:El Ibex cierra por encima de los 10.000 puntos por primera vez desde diciembre de 2015
The Ibex 35 continues its streak. On Friday it closed above 10,000 points for the first time since December 2015. The index gained 2.12% over the week and 0.08% in today's session. Thanks to these advances, the Spanish market now finds itself at 10,006.4 points.
- 11.531,600
- 0,50%
Banco Popular was the best performing stock in the Ibex with a rise of 5.24% to 0.94 euros. The second highest riser was Caixabank which gained 3.92% to 3.7 euros. Another bank filled the podium after Bankia closed 2.71% higher at 1.02 euros.
Repsol was the next best performer after it found a new oil reserve in the United States. In addition, Bankinter reiterated its Buy rating with a valuation of 15.38 euros.
On the other side, Santander, which rose 0.31% to 5.5 euros, won the battle against BBVA, which gained 0.16%.
Iberdrola was the worst performer on Friday after falling off 1.87% to 6.3 euros. ArcelorMittal hit its second day of losses after closing 1.8% lower. IAG, after an impressive show on Thursday, was the next worst performance after losing 1.6%. Inditex was the only heavyweight to finish with losses, after closing 0.46% lower at 31.4 euros.
OTHER MARKETS
The Ibex is currently the best performing market in Europe, after accumulating 7% during the beginning of the year. On Friday, the Ftse 100 finished 0.38% higher and the Cac 40 in France also was higher than the Ibex. The Dax 30 finished with losses of 0.13%.
Wall Street was one of the main focuses on Friday. The New York Stock Exchange saw moderate gains after employment data showed up better than expected, creating 235,000 jobs in the month of February. this increases the likelihood of a rate increase when the Federal Reserve meets next week.
In forex markets, the euro is gaining ground against the dollar and was lifted 0.88% one week after Janet Yellen and her colleagues make the decision.
TECHNICAL ANALYSIS
"What really didn't matter of today's session was whether we closed above 10,000 or not," pointed out Bolsamanía technical analyst José María Rodríguez. "The really important thing is that the big stocks remain strong. Santander and BBVA surpassed resistances on Thursday while Repsol again gave a signal that it can go above 14.37 euros, and Telefonica remains strong."
