The Ibex 35 extended its bullish streak this Friday after reaching 18,484.50 points and chaining its fourth consecutive week of increases. The catalyst was eminently geopolitical: Iran’s reopening of the Strait of Hormuz deactivated part of the risk premium that weighed on the markets, allowing the Spanish selective recover pre-conflict levels. In these five sessions, our index has added 1.54%. From a technical point of view, the movement has a clear reading. According to César Nuez, an expert at BitcoinDynamic, the Ibex 35 has successfully surpassed 18,360 points, a key level that corresponded to the bullish gap in March. which opens the door to an attack on the all-time highs at 18,573 points. Below, this analyst establishes as support to monitor the area of 17,862 integers. AMADEUS AND INDRA LEAD THE INCREASES In terms of values, the prominence of these sessions has fallen on Amadeuswhich has been fired 10.64% in a movement that goes beyond simple rebound. The title has recovered key technical levels, what has changed the chart bias after weeks of bearish pressure. Thus, the market is beginning to discount that the worst (geopolitical impact and doubts about air demand) could be behind us, or at least stabilized. It has been very close Indrawith an advance of 8.92%, confirming the overcoming relevant resistances and relying on a technical rebound above the 200-session average. The group is once again on the radar with targets in the 58.70 euro area, reflecting renewed interest in the defense and technology sector.
It has also shone Grifolswhich has risen 8.06% driven by the FDA approval for malaria screening test. Added to this is an obvious technical component: the value came from weeks of punishment, and the market has taken advantage of any positive catalyst to rebuild positions.
The positive tone has been widespread. IAG (+5.61%) has reacted with relief due to the improvement in the geopolitical context, while the banking -with Santander Bank (+4.94%) in the lead – has continued to take advantage of the rate environment and risk appetite. Even more cyclical stocks like ArcelorMittal or ACS They have accompanied the movement, confirming that money has returned to assets with higher beta. OIL FALLS AND LEAVES INJURIES ALONG THE ROAD On the negative side, the punishment has been clear and with an obvious culprit: crude oil. Repsol It has dropped 8.70%, penalized by the collapse of oil after the relaxation of tensions in the Middle East. The market has pivoted rapidly: what was once a hedge against geopolitical risk now becomes a ballast as soon as that factor disappears.
The adjustment has also reached the defensive block. Enagas (-4.81%) and Endesa (-4.28%) have suffered in an environment where investors once again rotate towards more cyclical assets. In the same line, Cellnex has lost 3.96%, reflecting the lower demand for securities considered safe havens. This week’s falls have been more contained in other names such as Iberdrola (-2.56%), Logistics (-2.22%) or Electrical Network (-2.15%), in a movement that responds more to sectoral rotation than to fundamental deterioration. CLEAR MESSAGE All in all, the message left by the week is clear: the market has gone from discounting an extreme risk scenario to embrace risk appetite again. The Ibex has not only risen, but it has done so with breadth and technical support. Now the question is no longer whether the rebound is solid, but if it has enough fuel to break all-time highs. And in this case, it will not only depend on geopolitics but also on the advance of accounting results season.
Weekly variations Ibex 35
