which has led the main squares to reduce their losses in the year and to levels that they had not visited for a long time. , with eleven consecutive sessions in the positive territory, which finally ended up breaking in the middle of the week, and consolidated its overcoming of the resistance that it had surpassed at the close of the previous week.
However, this week has been a halt in the climb and the calculations of the last five days have broken the streak of gains that the stock markets had been experiencing, giving way for the first time in four weeks. The publication of the inflation data of the European Union in the month of July has been one of the factors that has put downward pressure on the markets. . The ECB, which already undertook a first rate hike in July, did not take long to respond and a day later, the German Isabel Schnabel, a member of the Governing Council of the body, in an interview with Reuters. Schnabel also admitted the possibility of the eurozone entering a recession.
Despite this, the declines are moderate on this side of the Atlantic, widening in the worst case to a loss of 1.82% recorded by the German Dax. For its part, it continues to show its strength in August and is the European index that has fallen the least since Monday, by 0.74%.
At a technical level, the Ibex managed to overcome its marked resistance from Ecotrader at 8,400 points at the close of last Friday, a sign of strength that opened the door to a rise to 9,000 points. This consolidated this improvement reaching 8,511, but ends this week again at 8,338. From the portal, Joan Cabrero assures that and that we can witness a consolidation of the latest rises before seeing their continuity”. For Cabrero, this bearish week “has the appearance of being a simple pause in the rises and there will be no reason to think otherwise as long as he does not lose the lows of last week that he marked at 3,695 points and the Ibex at 8,295 points”. The Spanish stock market falls 4.31% in the year and remains at 4.5% of the positive in the year, compared to the 12.33% that Europe continues to lose in 2022.
For its part, Wall Street also adds to the negative terrain in the week, with declines of around 2% in the case of the Nasdaq and 1% in that of the S&P 500, according to mid-session data.
For Ibex values, energy marked the main increases within the selective, with eight companies in the sector among the most bullish. Acciona led at 35 with a revaluation of 3.8% since Monday and its price is already at record highs. Repsol and Acciona Energía close the podium with gains of 3.4% and 3.2% respectively in the week. In the lower part of the table, the decreases of Colonial, Fluidra and ArcelorMittal stood out, with falls of 5.9%, 5.44% and 5.05%, respectively,
In the fixed income market, the minutes of the US Federal Reserve (Fed) published this week, in which it is expected to maintain rate increases until inflation subsides, caused sales in the US bond, whose yield grew close to 18 basis points and was close to 3% yield again. The ECB’s forecasts for the next rate hike provoked the same reaction in European bonds. The German Bund exceeded 1% yield, scoring as much as 32 basis points since Monday. Peripheral bonds were again the most affected. The Italian grew more than 50 points and the Spanish more than 37, exceeding 3% and 2% performance respectively.
The euro, at parity with the dollar
The euro lost over 2% of its value this week and was back at parity with the dollar for the first time since July.
Brent, meanwhile, also fell about 2%, despite experiencing one of its biggest rises since July during the week. The barrel finished above 96 dollars in the middle of the session.
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