Ibex 35 starts February in negative, after falling 0.43% this week
On Friday the index closed with a rise of 0.6% to 9,462.7
- The main news of the day was Banco Popular after it posted results and fell rapidly
- Wall Street recorded important gains after jobs data
February has seen the Ibex 35 get off to a poor start. The Spanish index fell 0.43% over the week. However, on Friday it was able to register a rise of 0.6% to 9,462.7 points. The results continue with the announcement of Banco Popular.
IBEX 35
11.611,700
-
0,19%22,20
- Max: 11.631,70
- Min: 11.513,80
- Volume: -
- MM 200 : 11.108,82
The bank was actually the worst performer on Friday after a fall of 7.43% to 0.87 euros. Popular reported a loss of 3.5 billion euros, more than previously expected.
During the day, Popular reached the highest number of shares in its history, at 192 million. In addition, current president Angel Ron said goodbye to the bank he led for 12 years, as Emilio Saracho takes over on 20 February.
In the lower part of the table, ArcelorMittal was the next worst performer after falling 2.32% to 7.37 euros. Cellnex also had a bad day, losing 1.77% to 13.9 euros.
On the other side, the highest stock of the day was Indra after rising 2.42% to 10.60 euros. It was in the news on Friday after opening shorts in the company OPA via Tecnocom. Melia Hoteles, with a rise of 1.94%, and Merlin with 1.66% accompanied Indra at the top of the table.
The heavyweights in the index all finished in the green. Repsol rose 1.56% to 13.9 euros, owing to an increase for oil. Brent rose 0.785 to $57 per barrel. BBVA did even better by gaining 0.9% to 6.1 euros.
In the general stock exchange, OHL was top of the pile with a rise of 9.11% to 3.4 euros. The company has been awarded its largest contract in the US for 1.2 billion euros. OHL will remodel the 1-405 motorway in California.
OTHER MARKETS
The New York Stock Exchange keeps maintaining the focus. The three main indices registered gains after employment data was released, which showed the creation of 227,000 jobs in January, more than expected.
In Europe, markets finished positive as well. The Ftse 100 in London closed 0.67% higher, the day after the Brexit White Paper was introduced and the Bank of England stayed put on rates.
The Dax 30 rose 0.2% and the CAC 40 in France advanced 0.65%. With respect to the euro, the common currency regained 0.28% against the dollar at 1.0790.
In the macro side of things, China published its manufacturing PMI Caixin, which was situated 8 points below estimates at 51. Spain published its services PMI for January (54.2) as did Italy (52.4), France (54.1), Germany (53.4), the eurozone (53.7) and the UK (54.5).
TECHNICAL ANALYSIS
"It's been a week where we have seen many things. The first part was characterised by falls and the second part an attempt to make up lost ground to reach weekly highs," explained José María Rodríguez, technical analyst for Bolsamanía.
"What the Ibex 35 seems to be doing is consolidating the important rises of the beginning of December towards the maximums of the beginning of the year, and seems to be doing it more laterally than before," he added.
