On September 26, 2024, the IBEX 35 rose by 1.36%, closing at 11,953.2 points, marking its highest level since January 2010. This increase was fueled by global stock market gains and positive macroeconomic data, including a reported 0.7% GDP growth in the US for the second quarter. Additionally, the Communist Party of China announced a significant stimulus package worth one trillion yuan (approximately 127.84 billion euros) aimed at boosting economic growth. [b8d35098]
Retail sales in Spain also showed promising signs, increasing by 3.2% in August 2024. Among the notable performers in the IBEX 35, BBVA announced an interim dividend of 0.29 euros per share, representing an impressive 81% increase from the previous year. Other top gainers included Sabadell Bank and ArcelorMittal, while Grifols faced scrutiny from the CNMV for financial reporting issues. [b8d35098]
Despite the overall positive trend, some stocks experienced declines, including Repsol, Redeia, and Telefónica. In the commodities market, Brent crude oil prices fell to $72.1 per barrel, while the euro appreciated against the dollar, reaching 1.1174. Gold prices also surged, hitting $2,666 per ounce. [b8d35098]
Earlier in the month, the IBEX 35 had faced volatility, influenced by profit-taking and uncertainty stemming from an assassination attempt on former US President Donald Trump. However, the index managed to recover as investor confidence grew with the release of favorable US economic data. The focus on Federal Reserve Chairman Jerome Powell's remarks regarding inflation and interest rates also played a crucial role in shaping market sentiment. [705dde14]
As the IBEX 35 continues to navigate through these economic developments, traders remain optimistic about the potential for further growth, especially with the backdrop of supportive fiscal policies from major economies. [37269fd8]