Never before has the Ibex had a negative behavior for so long. With the 1.17% drop in the Ibex today, the Spanish index accumulates 11 consecutive days with declines. Since August 17, every day the index that represents the 35 companies with the largest capitalization in Spain has ended in losses
It is the longest negative series since its creation in 1992. Today the losses coincided with the publication of the new inflation record in the European Union, which reached 9.1% in August.
Luis Benguerel, partner at Anattea Gestión, explained that the falls have come at a time of great nerves in the market, but added that the Ibex is a special index that does not usually arouse much interest among international investors. Frankfurt fell 0.97% and Paris 1.37%
“Given today’s stronger-than-expected inflation data, coupled with hawkish comments and upside risks to near-term growth, we now expect the (ECB) Governing Council to raise rates by 75%. basis points at the September meeting,” US bank Goldman Sachs said in a note published on Wednesday, reports Efe.
There were already two other occasions in which the Ibex fell for 10 days in a row. It was in December 2015 and November 2017.
In the month as a whole, since July 29, the Ibex has accumulated a decrease of 3.31%. In the banking sector, Santander lost 1.25%, BBVA scored 0.11%, Caixabank advanced 2 .11%, Sabadell gained 1.42%, and Bankinter appreciated 1.39%.
Among the large non-financial stocks, Telefónica fell 0.48%, Inditex lost 2.66%, Iberdrola dropped 2.44%, Cellnex fell 1.75% and the oil company Repsol lost 1.59%.
