The war conflict in Iran and the escalation of oil have taken their toll on the European stock markets and, especially, the Ibex 35. The Spanish selective has closed the week with a drop of 7.01%, which has caused a serious deterioration of its technical prospects.
Thus, as the BitcoinDynamic experts explain, the index keeps a ‘bearish window’ opena figure that could anticipate new cuts in the short term. In fact, they do not rule out additional declines to around 16,000 points if selling pressure continues to dominate the market. In addition, they warn that the Spanish selective will not again offer clear signs of strength as long as it does not manage to successfully overcome the area of 18,000 pointsa level that has become the great technical reference to monitor in the coming weeks. REPSOL AND AMADEUS ARE SAVED FROM THE ‘BURNING’ In this very negative context, only two Ibex 35 values have managed to close the week positively. The best behavior has been for Repsolwhich has directly benefited from the strong rise in the price of crude oil in the midst of a geopolitical escalation. The oil company has advanced 9.18%, also remaining in free risewhich reinforces its relative strength compared to the rest of the market. Next to her, Amadeus He has also managed to escape falls. The technology company linked to the tourism sector has scored a 3.56%recovering part of the ground lost after the pronounced cuts that had been accumulating since the beginning of the year.
ACCIONA AND ARCELORMITTAL LEAD THE DECLINES On the opposite side of the table, The losses have been widespread and especially intense in several securities of the selective. The biggest weekly drop has corresponded to Actionwhich after experiencing a strong rebound the previous week, has suffered a very significant correction. The company has ended the five sessions with a decrease of 14.99%.
He has also highlighted the decline of ArcelorMittalone of the stocks that had been performing best since the beginning of the year. The steel group has suffered a significant setback and has left a 13.60%.
In the caboose there has also been placed IAGwhich has given up a 12.95% in a particularly adverse context for the airline sector. Very close they appear Solariawith a drop of 12.06%and Santander Bankwhich has retreated a 11.20%. Sales have also hit hard Activate Energywho has lost a 9.95% in the week. For its part, Acerinox, Sacyr, Inditex, Cellnex and Ferrovial have also registered very large declines, greater than the 8% In all cases, reflecting the intensity of the correction that has affected practically all sectors of the Spanish market.
With this balance, the Ibex 35 closes one of its most complicated weeks in recent months, with the focus now on if it manages to stabilize or if, on the contrary, geopolitical tension and the rise in oil continue to pressure European equities.
Weekly variations Ibex 35
