He acceleration of the last four weeks has been enough to return the Ibex 35 to trading above a round figure: 10,000 points. The month of November alone is responsible for half of its rally in the year, which is already close to 20%, despite all the pools that pointed to a bad year for equities. Since the national selective will hit lows at the end of October, above 8,900 integers, it has added 12% gains and close to 1,100 points, until closing this Tuesday at the level of 10,005 in a session that has gone from less to more and that has finally closed with gains of 0.7%.
Merlin Properties led the way this Tuesday, with gains of 4% after Goldman Sachs analysts gave the company strong support this morning, with an improvement in recommendation and target price above 10 euros; followed by the banks (which are a third of the weighting of the index) with increases of 2.2% for BBVA, 1.87% for Unicaja, Banco Santander another 1.6% and Bankinter, 1.56%.
What does this mean for the Ibex? It is not only to reconquer the 10,000 zone, but to give folder three years of vertigo in financial terms that have changed the rules on which the world economy was based. The world today is not what it was before February 2020, when a global pandemic imploded in Europe, mainly in Spain and Italy, and from that moment on uncertainty led the index to star on three Mondays negros followed by unprecedented falls that led it to sink more than 3,500 points, almost 36% losses accumulated in the market when it marked the first lows on March 20, 2020.
Who leads the gains in the last month? Investor purchases have focused on securities that were previously penalized. This is the case of the Catalan pharmaceutical company Grifols, which has risen almost 30% in the last 30 days. Cellnex Telecom scores a 29% revaluation in a difficult year for the telecommunications tower firm, since a context of rising financing costs is not favorable for a business as indebted as that of financial reits; and Solaria adds another 20%. Also noteworthy are tourism firms such as Amadeus and Aena, the Colonial REIT, Fluidra and Banco Sabadell, all of them with profits of more than 16% in the month.
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