The IBEX 35 It has fallen this Friday by 2.46% and recorded the lowest level of the year finishing below 7,600 points, affected by the worsening of activity in Europeas well as the latest news from the war in Ukraine and rate hikes announced by the Bank of England and the Federal Reserve.
Thus, the main market indicator has dropped 191.2 points, being the biggest drop since last June, to 7,583.5 points (new yearly low and level of last November). In the second worst week of the year, it yielded 5.02% and in this exercise accumulates a fall of 12.97%.
The Spanish stock market began the day with small losses, around 0.25%, after Wall Street has been in decline for several days after the announcement on Wednesday of a third consecutive rise in interest rates in the country of 75 basic points, until place them in a target range of between 3% and 3.25%.
Widespread falls in Europe
In Europe, Milan has dropped 3.36% (there are elections in Italy on Sunday), Paris 2.28%, Frankfurt 1.98% and London 1.97%.
In addition, on the last day of the week, the preliminary publications of the PMI for services and manufacturing “disappeared any possibility of recovery”, according to XTB analyst Darío García.
A) Yes, private activity in the euro zone as a whole registered a contraction in the month of septemberuntil falling to its worst level in the last 20 months, as reflected in the Composite Purchasing Managers’ Index (PMI), prepared by S&P Global, and which has stood at 48.2 points, since August 48.9.
“A recession is looming for the euro zoneas companies point to worsening business conditions and rising price pressures, linked to soaring energy prices,” said Chris Williamson, chief economist at S&P Global Market Intelligence, who estimates a contraction 0.1% of GDP in the third quarter.
Finally, the price of the euro against the dollar it stood at 0.9722 ‘greenbacks’, while the Spanish risk premium stood at 111 basis points, with the interest required on the ten-year bond at 3.169%.
Only one Ibex company has risen, Fluidra, 2.64%. Siemens Gamesa has repeated listing and Telefónica has registered the smallest fall.