The IBEX 35 is up 1.62% this Monday, continuing its rise for five straight days, its best rise since late last June, driven by Wall Street, which was up about 0.5% at the Madrid close. Although gains are in the majority, 32 out of 35 stocks, two major companies included in the index, Banco Santander and Inditex, were instrumental in this rise due to their gains of over 2%, which in the bank’s case is close to 3% .
The main national index, the IBEX 35, is up 151.2 points, or 1.62%, to 9,490.1 points, despite trading above the 9,500 point level and to monthly highs for much of the session. Since the beginning of the year, there has been an appreciation of 15.32%. Elsewhere in Europe, Paris is up 1.32%; Milan, 1.19%; Frankfurt, 1.32%, and the Euro Stoxx 50 Index, which brings together the largest listed companies, 1.29%. It’s a public holiday in London.
The major international markets reacted positively (the S&P 500 rose almost 0.7% on Friday) to the words of the heads of state and government of the world’s major central banks, who met in Jackson Hole (USA) last week and insisted on a sending a clear signal against inflation reveal their next steps.
Preliminary inflation data for August in the euro area and US employment data will be released this week, two indicators that the European Central Bank (ECB) and the Federal Reserve take heavily into account when setting their monetary policies.
In Spain, the session was marked by a technical incident that interrupted data transmission via electronic platforms around midday and had not been fully resolved by the close of trading.
However, trading in the market has developed normally, sources from the manager of the Spanish exchange Bolsas y Mercados Españoles (BME) EFE said.
Banco Santander and Inditex are instrumental in the advance of the IBEX 35
IBEX big names include the rise of Banco Santander (2.95% and second highest in the index), Inditex (2.19%, third highest); BBVA (1.79%) and Telefónica (1.41%), according to data from the Infobolsa website.
In addition to the two big banks, the other four financial institutions included in the selection (CaixaBank, Sabadell, Bankinter and Unicaja) are also up more than 1% this Monday.
Colonial Real Estate led the rise and only three stocks were down: Indra, Logista and Fluidra, down 0.46%, 0.32% and 0.2% respectively.
At the close, the euro was up 0.1% at $1.08 and Brent oil was down 0.5% to trade at $84.29 a barrel.
On the debt side, Spain’s 10-year bond fell a little over a basis point to close at a yield of 3.572%.