Ibex 35 fails to get over the gain line despite best month of the year

Spanish index gains 7% in December but falls 2% overall for 2016

  • FTSE 100 reaches historic highs after a 14% rise for the year
  • ArcelorMittal was the highest Ibex stock in 2016, Popular the lowest
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Bolsamanía
Bolsamania | 30 dic, 2016 18:21
bolsa de madrid ibex 35 parque

The Ibex 35 closed with gains of 0.27% to finish on 9,352.10 in the last session of the year on Friday. Despite the fact that it has not been able to finish 2016 on the positive side, falling 2% annually, the month of December was the best month of the year for stocks, after rising 7%. Optimism ahead for 2017.

DAX
19.848,770
  • -0,18%-35,98
  • Max: 19.901,32
  • Min: 19.805,57
  • Volume: -
  • MM 200 : 18.705,73
17:50 23/12/24
FTSE 100
8.102,720
  • 0,22%18,11
  • Max: 8.111,41
  • Min: 8.051,92
  • Volume: -
  • MM 200 : 8.187,08
17:35 23/12/24
CAC 40
7.272,320
  • -0,03%-2,16
  • Max: 7.291,69
  • Min: 7.233,19
  • Volume: -
  • MM 200 : 7.659,63
18:00 23/12/24
PSI 20
6.305,830
  • 0,46%29,08
  • Max: 6.326,73
  • Min: 6.273,45
  • Volume: -
  • MM 200 : 6.580,13
18:00 23/12/24
IBEX 35
11.435,700
  • -0,28%-31,60
  • Max: 11.474,90
  • Min: 11.399,10
  • Volume: -
  • MM 200 : 11.289,95
17:35 23/12/24

In the United Kingdom, the FTSE 100 rose 14% over the year, hitting an all-time high of 7,142.83 after rising 0.32% on Friday. The DAX 30 in Germany rose 0.26% and finished the year 6% higher. On Wall Street, the Dow Jones is heading towards a 14% rise also.

In the Ibex, the worst performing heavyweights of 2016 were Telefónica (-14%), BBVA (-6%) and Iberdrola (-6%). Despite the good performances of Inditex (+1.5%) Banco Santander (+5%) and Repsol (+32%), the main index in the Spanish stock exchange could not finish the year positively.

The banking sector in particular took a hit during the year. Banco Popular was the biggest faller by far in 2016 (-70%), followed by IAG (-37%), Ferrovial (-18%), Sabadell (-17%, Viscofan (-15%) and DIA (-15%). On the other side of the board, the most profitable stocks of the year were ArcelorMittal, (+137%), Acerinox (+34%), Repsol (+32%), Mapfre (+25%), Aena (+23%), Gamesa (+20%) and Indra (+19%).

"On the face of it, the bets for next year continue to be on sectors related to basics, with tourism, with constructionand exportation. As a result, businesses like Acerino, Amadeus, Ferrovial and Grifols could be stocks to watch," said IG analyst Daniel Pingarrón.

In the foreign currency market, the euro rose 0.6% to 1.0556 dollars. After hitting a 2001 low of 1,0352 on 20 December, the European currency rebounded in the last days of the year. Even though analysts have predicted parity in recent months, owing to monetary policies from the US Federal Reserve and the European Central Bank. In the commodities zone, European oil benchmark Brent crude fell 0.4% to $56.63 per barrel even though it finished the year with gains of 45%.

In the macroeconomic sphere, Spain released its Consumer Price Index ahead of schedule, corresponding with December. Inflation increased 8 points and closed the year 1.5% higher. In addition, details of the current account balance has become known, registering a surplus of 15.6 billion euros until October, 62.5% higher than the same period in 2015.

At a technical level, Bolsamania analyst César Nuez commented that the Ibex keeps "consolidating its level after achieving the upper level of 9,330 points." The expert added that "we will not even move with the minimal sign of weakness as long as it stays above 9,200 points."

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