The last month of the year is being positive for the European stock markets, which can round out their annual price with the last push of the christmas rallyin which investors have their wishes set. In recent days the Ibex has fallen slightly, and in the last day a major obstacle was encountered in its December price: disappointment over the results of the Inditex group. For this reason, the Spanish stock market lost 1.5%, up to 11,789 points in the last session. At a monthly level, its increase remains at 1.3%, while the European index, the EuroStoxx 50, manages to double its riserecording an increase of 3.2% so far in December, just the day before the last meeting of the European Central Bank in 2024, in which analysts assume that Christine Lagarde will make a new interest rate cut.
This fall once again moves the Ibex 35 away from 12,000 points, and with it from its historical maximums: 12,118 points, from which it remains 2.7% this session. Until Friday of last week, The Ibex 35 recorded an increase of 3.7% in Decemberleading together with the dax German, which rose 3.8%. Although it has been correcting this week, the last blow was taken this Wednesday with the 6.5% decrease in Inditexwhich suffered a 7.5% drop in the session.
Investors have chosen to sell their shares in the Spanish brand, which has experienced its most bearish session since 2022, despite the fact that Zara’s parent company has broken records by achieving a historic net profit: 1,600 million euros in a single quarter. However, the profits have fallen below the 1,700 million euros expected by analysts.
At an annual level, the Ibex 35 continues to lead the continental index, by maintaining an increase of 17% this yearwhile the EuroStoxx 50 rises 9.7%, once again approaching the 10% rise it has not had since mid-October. These new increases in the European index bring it closer to the next resistances to beat, which are set at 5,120 points, a temporary ceiling that it found in April 2024 and from which it is less than 3% at the moment.
The technical analyst and strategist of Ecotrader, Joan Cabrero, explains that this is a good momentum for the index to exceed this mark, since, “After such a long consolidation, the overbought accumulated has been completely eliminated, leaving the main European index in an optimal position to resume the upward trend of recent years,” says the analyst. For Cabrero, exceeding these levels is key to continuing its bullish streak, whose “The medium-term objective of the EuroStoxx 50 is at the historical highs of the technological bubble of the year 2000, around 5,500 points“says the expert. And if this rise occurs, there would still be a long way to go for the index of the 50 companies, it could go up to 10% from 5,500 points.
In the rest of the Old Continent, increases are the trend that prevails in the stock markets this December. The Italian FTSE Mib advances 3.9% so far this month. While the German Dax also rises 3.9%. In the case of the Cac 40, it registered 2.6% monthly, although this has encouraged its annual price, it continues to lose 1.6% so far this year, dragged down mainly by the political uncertainty surrounding France.
On the other hand, on the other side of the Atlantic, Wall Street is not all positive after the excellent month of November that marked the main indices of the Big Apple. At the European close, the Dow Jones lost 1.4% in the monthly balance, the S&P 500 rose 0.9%. The Nasdaq 100 shines compared to its counterparts by registering a 3.9% increase, driven by the increases in technology in recent days.
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