The Ibex 35 reduces the weekly fall to 1.5% and recovers 8,700 points thanks to banks and steel companies

The Ibex 35 The session closes this Friday, approaching 8,700 points thanks to the advances of banks and steel companies, values ​​more linked to the economic cycle. The Spanish selective ended the week with a fall of 1.5%, after the sharp drops on Thursday, its second worst day of the year.

The Ibex 35 puts an end to the week with a rise of 1.46%, to 8,776.60 points. The selective of the Spanish Stock Exchange achieves the rebound after the sharp falls of the day on Thursday, in which the selective recorded its largest daily decline in the year.

Arcelormittal closes as the best value of the Ibex 35 thanks to a rise of 5.41%, ahead of Sabadell Bank and the other steelmaker of the selective, Acerinox, which add 4.84% and 3.76%, respectively.

Then, BBVA it appreciates 3.53%; Bankinter, 3.41% and CaixaBank, a 3.15%. Santander Bank, on the other hand, it advanced 2.35%.

Colonial Real Estate adds up to 2.79%. SFL’s board of directors has issued a favorable report on the mixed takeover bid made by the Socimi to acquire 100% of its French subsidiary.

Repsol it advances 1.20%. The oil company will build in its industrial complex in Sines (Portugal) two plants of polymeric materials worth 657 million euros, which represents the largest industrial investment in Portugal in the last ten years, the energy company has announced.

For its part, Cellnex has closed the purchase of 99.99% of Polkomtel Infrastruktura, Cyfrowy Polsat’s telecommunications infrastructure subsidiary in Poland, with an investment of 1,600 million, which will be accompanied by an additional deployment program of up to 1,500 sites

Outside the Ibex 35, the biggest rise in the continuous market, the biggest rise is that of eDreams, which adds 4.95%; while the greatest decrease is that of Borges, which remains 5.11%.

Bounce session in Europe

With these increases, the Ibex 35 joins a rebound session in Europe. The national index recovers at the end of a week of high volatility in the markets, given the fear that the new Delta variant of coronavirus could delay the process of global economic recovery.

From Bankinter they consider this day “of stabilization with a positive tone until the results focus the attention of the markets”. They consider that the market fund continues to be solid with a movement of increased volatility, very common in summer periods.

The equities of the Old Continent were picking up pace at the end of the session, after the higher open on Wall Street. On Thursday, the New York stock market closed on Thursday with strong sales and moved away from the modest gains of the day before, which took two of its indicators to the record, given the doubts about the global recovery.

The market is already waiting for next week, in which US banks will be the main protagonists. Consensus expectations for S & P500 earnings per share growth exceed 60% for the second quarter of the year.

In the commodities market, the prices of Petroleum they expand the advances. Brent crude benchmark in Europe advances 1.86%, to $ 75.50; while the US West Texas adds 2.17%, to $ 74.53. The euro gives way against the dollar and is exchanged for 1,186 greenbacks.