• Gas Natural picks up the wooden spoon with a fall of 3.15%
  • Bank of England maintains rates at 0.25%
bolsa_de_madrid_ibex_35_parque

The Ibex 35 closed 0.1% lower on Thursday after being down 0.8% at one stage to fall below 10,300, ending up on 10,361 points. Gas Natural picked up the wooden spoon after falling 3.15%, followed by Siemens Gamesa with a loss of 3.02% and Red Electrica by 2.46%.

IBEX 35

  • 10.854,400
  • -2,22%

Ferrovial was the best performer after closing up 1.37%, while Repsol gained 1.07%. Colonial and Inditex are the other stocks which finished in the better performers list.

Goldman Sachs cut its recommendation on Indra. The analysts moved from overweight to neutral. Its target price was reduced from 15 euros to 14.5. The company’s stock was down 1.26%.

One of the most important events of the week was the Bank of England monetary policy committee meeting. The body maintained rates at 0.25% but indicated that there may be a change coming in the next few months. Apart from that, US CPI grew 0.4% in August, owing to higher rental and gas prices.

The Catalan question continues. The Ibex continues to ail while the question persists, although it is beginning to adapt. In a similar manner, global stock markets continue to be hekld back by fear of political tension caused by North Korea, who have made further threats against the US and Japan this week.

Oil continued its upward trajectory on Thursday (Brent up 1.12%, West Texas up 1.85%). The EIA said on Wednesday that the surplus supply is beginning to come down as demand grows.

“A clearly average session which leaves the Ibex 35 able to attack the significant resistance of between 10,580 and 10,600 points. We don’t want to get carried away, but the rebound seen by the Ibex this week is mostly down to Banco Santander (up bove 7% from last week) and Inditex, which has risen almost 6% in the same period,” explained José María Rodríguez, Bolsamanía technical analyst.

He added that “as a result, the losses of almost 1% in the worst part of the day would have allowed us to adjust the gains of recent sessions.”

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