The Ibex 35 closed this Friday with a weekly increase of 0.53%, a insufficient rebound to reconquer the psychological level of 17,000 points. All this in a context of high geopolitical uncertaintywith the war in Iran putting pressure on the price of crude oil and reactivating the specter of higher interest rates for longer. From the technical point of view, the outlook remains unoptimistic. César Nuez, BitcoinDynamic analyst, warns that As long as it does not exceed 17,720 points, we cannot speak of real strength. Below, the radar points to 16,247 points (recent annual lows) and, as a key level, 16,000 integers. In other words: The market holds, but it does not take off.
ENAGÁS AND PUIG PULL THE CART The bullish prominence of the week has had several proper names. The clearest, that of Enagás, which has shot up 16.52% driven by the CNMC proposal for the new regulatory periodwhich introduces substantial improvements in the transportation business. The market has bought visibility… and dividend.
Puig Brands has followed closely, with an advance of 13.77%, after opening the door to a possible business combination with Estée Lauder. If it takes off, the movement would be significant: the sector’s second largest global group by sales, only behind L’Oréal. He has also highlighted Fluidra (+6.71%), which has signed a technical rebound after weeks of punishment, while Sacyr (+3.73%), ArcelorMittal (+3.57%), Acerinox (+3.46%) and IAG (+3.11%) have completed the group of stocks that have known how to navigate troubled waters. INDRA FALLS AND DRAWS THE INDEX On the opposite side, the week has left significant falls. So, Indra has collapsed by 10.27% once its merger with Escribano (EM&E) has derailed and before the growing doubts about his corporate future and leadership. The market does not forgive uncertainty… and there has been plenty here. It hasn’t been a good week for either. Redeia (-4.63%), penalized in an environment of regulatory pressure, nor for Colonial Real Estate (-2.40%), nor for Inditex (-2.10%), which have given ground in a market that is beginning to discriminate more than it seems. Final balance: transition week, with more noise than trend. The Ibex resists… but continues to look askance at an environment that does not give it any respite.
Weekly variations Ibex 35
