ibex 35 Slides 3.2% Amid Global Market Concerns
The Ibex 35 closed the week with a decline of 3.2%, finishing Friday at 15,821.9 points - a drop of over 500 points in five trading days. despite this weekly setback, the index remains up 36% year-too-date.
The downturn reflects broader anxieties impacting global stock markets, which are on track for their worst week in seven months. According to XTB analyst Manuel Pinto, these concerns stem from “high valuations and doubts about weather the results of heavy investments in artificial intelligence will be worth it.” Adding to the pressure is uncertainty surrounding the Federal Reserve’s potential to lower interest rates next month following positive employment data.
International developments also played a role. Donald Trump reportedly signed an executive order expanding tariff exemptions for food products from brazil, a move intended to address cost of living concerns in the United States. This action eases previously levied fees on the Brazilian government related to the prosecution of Jair Bolsonaro for attempted coup d’état.
Economic indicators from the Eurozone offered a mixed picture. The preliminary November composite PMI index registered 52.4 points, a slight decrease from October’s 52.5,but still signaling continued economic expansion.
Within the Spanish corporate sector, IAG expressed interest in the privatization of TAP, noting that “several conditions would need to be addressed” before any investment could be finalized. Leading gains on the ibex 35 were Amadeus, rising 2.9%,followed by Cellnex,Puig,Aena,and Telefónica.
European markets showed divergence, with London and Paris posting modest gains while Frankfurt and Milan experienced declines.Oil prices also fell, with Brent crude closing at $62.19, down 1.92%, and WTI ending the week at $57.69, a decrease of 2.22%.
the yield on the ten-year Spanish bond settled at 3.208%, and the euro weakened by 0.19% against the dollar, trading at $1.1507.
