The US stock markets continue to celebrate after an intense week, full of uncertainty due to the importance of events, and are aiming for the best weekly close in the last 12 months. The region’s benchmark, the S&P 500, manages to record an increase of 4.6% at the European close, its largest weekly increase since October 2023. In recent days, the entire world has had its eyes on the United States, both for the presidential elections and for the meeting of the American Federal Reserve after the election, leaving business results in the background. Finally, the resounding victory of Donald Trump against Kamala Harris has radically boosted the price of the indices on Wall Street, its highest rally bullish trend of the entire year, leading these stock markets to set new all-time highs. But this does not spread to the rest of the markets, and the price of the Old Continent has reflected it. The Ibex 35 is one of the hardest hit after the election result: it lost 2.46% on a weekly basis and closed at 11,551.6 points.
The investors of the Big Apple have celebrated Trump with purchases in the three references, although their favorite is the Nasdaq 100, as it takes the lead by rising 5.15% in the weekly count at the close of the session in Europe. With this rise, the technology index is tied at an annual level with the S&P 500, by scoring 25.4% in 2024in front of the 25.6% of the selective par excellence. The selective firm that appreciates the most with the vision of Trump as president of the United States is Tesla, which achieves a rise of 24% in just five days, since Elon Musk’s company, which has been one of the main supporters for the magnate in his campaign, will be favored by the plans of the new tenant of the White House to reactivate American production and the good relations of this company. He Dow Joneswhich sees its prospects favored by the reactivation of the country’s decayed industrial sector due to the relocation of its production, up 4.7%.
And the fundamental part of Trump’s plan to strengthen the American industry is to increase tariffs on imported products, which in turn obscures the forecasts for the future of this sector on this side of the Atlantic, which led to the European indices to collapse on the stock market in the weekly balance. The reference that comes out worst from these declines is the Italian one, the FTSE Mib, which fell 2.7% in this period.
For its part, the Ibex occupies the second worst position in the last five days, this Wednesday it had its worst fall in a session in 2024 of 4.5%. This has led the index to lose its position as the best index of the year 2024, which the German Dax takes with its rise of 14.7%, compared to the 14.44% that the Spanish stock market accumulates. For the week, the Berlin stock market lost 0.2%. While the reference selective on the continent, EuroStoxx 50, loses 1.5% this week. For his part, the Cac 40 falls 1%, and continues to trade negatively on an annual basis, with a decrease of 2.7% in 2024.
The bears of the Ibex
The Ibex 35 has experienced a bleeding of their values this week, in which only seven firms escape the general declines, not only in the Spanish stock market, but in the rest of the European references. IAG and Acerinox are the most bullish of these days, with an increase of 11%, while Grifols scores a 6.7% rise.
Although in the red part of the table, Rovi leads the descents, and corrects 19.2% in the last five days after presenting disappointing results this Thursday, in which its profit fell 4%. The pharmaceutical company forecasts lower than expected profits for next 2025. Puig and Banco Sabadell plummet by 6% and 5.5% in both cases. Spanish banks experienced a scenery complicated on Wednesday, when it was announced that the Republican candidate had won the elections, and the index that follows the behavior of our country’s banks plummeted 5%, one of the largest declines so far this year.
On the other hand, the dollar has gotten a boost from the outlook for Mr. Trump as president and continues to trade strongly against the euro, after reaching the exchange rate of 1.07 dollars this Wednesday, its highest increase since March 2020 at the beginning of the pandemic, and closes the week at these levels. Instead, the barrel of Brent It reached $75.63, which it finally lost at the European close, closing at $73.82. While gold fell to $2,659, although it finally rebounded to $2,688 per ounce.
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