- Three consecutive weeks with advances
- Ibex more than 9% higher since start of 2017
- Friday saw the first ‘maturity’ of 2017
The Ibex continued its unstoppable streak after three consecutive weeks of gains, closing 2.47% higher than it started the week. It finished above 10,200 points for the first time since December 2015 after gaining 0.77% on Friday (10,245.8 points). The Spanish index has accumulated 9.33% since the beginning of the year.
- 11.656,600
- 0,39%
Mediaset was the best performing stock on Friday after an increase of 3.38% to 11.78 euros. It was followed by Grifols, which gained 3.09%, and ACS, with a lift of 2.56%. The five heavyweights of the index had a good day. Telefonica gained 1.19% to 10.6 euros, now gaining more than 20% this year.
BBVA rose 0.35% to finish above 7 euros. The entity presided over by Francisco Gonzalez reported that it will dish out its last dividend option in april and start to deliver all its payments in cash.
On the side of the fallers, Enagas picked up the wooden spoon for the day with a loss of 1.82% to 22.9 euros. Merlin lost 0.46%, Melia hotels 0.4%. IAG also closed lower, by 0.26%, after announcing the arrival of its new low-cost airline, Level.
In the general stock exchange , Prosegur Cash made its debut. It close 3% higher at 2.06 euros, although it was 7% higher at one stage.
With respect to the other side of the board, Sniace had a bad day after dropping 6.53% after announcing a capital investment of 17 million euros.
OTHER MARKETS
Other euro markets finished with moderate gains. The CAC 40 in France rose 0.32%, the FTSE 100 in London gained 0.12% and the DAX 30 rose slightly by 0.1%.
Turning to the “quadruple hour witch”, the first maturity of 2017 will bring a lot of volatility. The key will be whether this can be turned into gains in the markets.
In the commodity market, oil fell by 1%. Brent crude fell 0.1% to 51.69 dollars, while WTI also fell lightly at 0.04% to 48.73 dollars. The euro fell 0.2% against the dollar and is now worth 1.0745 greenbacks.
TECHNICAL ANALYSIS
“It’s true that not all gaps are successfully filled, but experience tells us that the majority do. Now the million dollar question is when: whether it be in the upcoming sessions, in weeks or even months,” affirmed Bolsamanía technical analyst José María Rodríguez.
