Ibex ends April with gains of 2.4%, 3.25% for the week

The Ibex 35 closed the month of April still showing the gains of Monday after the French elections which sent Emmanuel Macron towards presidential office. In April, the Spanish index rose 2.4%, gaining 14% over the year. Meanwhile this week it is 3.25%, with a 0.30% rise on Friday.

Friday’s session came loaded with results, from the likes of Caixabank, Bankia, Bankinter, Mapfre and Cellnex, while at the European level there were reports from Barclays and RBS. Caixabank’s profits increased 48% in the first quarter thanks to BPI, which pushed it on 3.27% in the Ibex, where it led the gains.

The Catalan bank was accompanied by Acciona which gained 2.23%, AreclorMittal at 1.95% and Mediaset on 1.93%. In addition, there were advances for IAG, Cellnex, Gamesa, and Bankia.

Regarding the heavyweights, Inditex gained 1.09% and Banco Santander 0.76%, while Iberdrola closed practically flat, BBVA and Telefonica suffering losses. Amancio Ortega’s firm arrived at historic highs at 35.2 euros just before the close of the Ibex.

On the losses side, MApfre led the losses (-2.94%) after presenting its results, accompanied by Indra (-1.87%) and Tecnicas Reunidas (-1.72%).

The rest of the European markets closed with light losses, with the FTSE 100 falling 0.37%, and the PSI 20 in Portugal fell 0.16%.

Outside of Spain, UBS reported an increase in its profits of 79% to 1.3 billion Swiss Francs. Barclays was 5% lower on Friday after disappointing with its Q1 figures.

May will see more company results, in Spain as well as in Europe and the US, and another vote which is not causing too much worry. Next Sunday, the second round of the French presidential election will take place, with the majority of polls showing a comfortable lead for Macron over Marine Le Pen.

The week will finish tomorrow with a significant meeting of the European Council, in order to establish the “red lines” concerning Brexit. Negotiations with the UK will arrive in June and Theresa May is seeking to establish a strong mandate after calling a snap election for June 8.

Bolsamania technical analyst Jose Maria Rodriguez pointed out that “despite the slight fall from the maximums of Tuesday’s session, the graphic of the Ibex 35 keeps showing impressive form. We end the week with a significant upward trend of 10,377 points. Similarly, in the middle of this trend there is no closure, meaning we have little to worry about right now.”