The Ibex 35 has concluded the session this Friday with an increase of 0.81%, which has allowed it to return to above the threshold of 20,000 points. Specifically, the Spanish selective index has closed at 20,041.9 points on a day dominated by the traditional meeting of central bankers in Jackson Hole and by the message of its host, the chairman of the Federal Reserve (Fed), Kevin Warsh, who has reinforced expectations of a forthcoming increase in interest rates.
During his speech, Warsh emphasized the Fed's commitment to returning inflation to the 2% target. "It is my view: we must have certainty that core inflation is heading towards our target, clearly, and at a sufficient pace. Otherwise, we have work to do. That is our job, our mandate, and our responsibility," he asserted.
At the same time, the head of the Fed admitted that the situation is "concerning," and although he acknowledged that the inflation data from the summer was better than expected, he pointed out that he has no evidence that "underlying trends have improved significantly."
In parallel, investors have closely followed the evolution of tensions in the Middle East following the economic offensive by the United States against Iran and Tehran's movements with other countries to reopen the Strait of Hormuz to international traffic.
Iranian authorities have labeled the President of the United States, Donald Trump, as "schizophrenic" following his declaration of the Strait of Hormuz as new U.S. territory, while urging the international community not to support the policy of sanctions and economic isolation imposed by Washington.
On the other hand, the secretary of Iran's Supreme National Security Council, Mohsen Rezaei, has denied that the country has a plan to assassinate Barron Trump, Trump's son, and has accused Israeli Prime Minister Benjamin Netanyahu of "spreading false news" on this matter to pressure the occupant of the White House and push him to take new measures against Tehran.
Simultaneously, the Zionist regime has killed at least four Palestinians, including three members of the same family, in new airstrikes by the Israeli army on the Gaza Strip, despite the ceasefire agreed upon in October 2025.
In the commodity markets, the price of Brent crude, the reference in Europe, fell by 0.41% at the close of the markets in the Old Continent, to 89.3 dollars, while West Texas Intermediate (WTI), the reference in the United States, decreased by 0.5%, to 83.1 "greenbacks" per barrel.
In the macroeconomic sphere, the unemployment rate in Germany remained unchanged in August at 6.5%, in a context of low dynamism in the labor market, according to details provided by the German Federal Employment Agency.
In Spain, the National Institute of Statistics (INE) has reported that the Consumer Price Index (CPI) rose seven tenths in August compared to the same month of the previous year, to 4.3%, its highest record since February 2023, when it reached 6%.
Additionally, the statistical agency has published the retail sales data for July, which fell by 0.2% year-on-year, after the 2.6% increase recorded in the previous month.
For its part, France has released its preliminary CPI data for August before the stock market opened. The second largest economy in the EU recorded a year-on-year inflation of 2.4%, accelerating three tenths compared to the increase in the cost of living observed in July.
Falls of up to 10% in the European Stock Exchange in the second quarter
In this scenario, the most notable rising stocks within the selective index have been Puig (+1.77%), Indra (+1.63%), BBVA (+1.54%), Banco Santander (+1.36%) and Endesa (+1.29%). On the opposite side, Solaria has led the losses (-1.69%), followed by Aena (-1.34%), Fluidra (-1.17%), Rovi (-1.06%) and Grifols (-1.04%).
The rest of the major stock markets in the Old Continent also ended this Friday's session positively, remaining at historic highs. The FTSE 100 in London rose by 0.29%; the Mib in Milan, by 0.67%; the Dax 30 in Frankfurt, by 0.77%; and the Cac 40 in Paris, by 0.98%.
Although European equities continue at record levels, analysts at Bank of America (BoFA) have reiterated in their latest report a "negative outlook" on the region's stock markets and forecast a decline of 10% in the Stoxx 600, to 580 points, looking ahead to the second quarter of the year.
In the sovereign debt market, the yield of the Spanish 10-year bond has risen in the last moments of the session to 3.725%, driven by Warsh's comments, which has raised the risk premium —the differential against the German bond at the same term— to 44.65 basis points.
In the foreign exchange market, the euro was depreciating sharply (-0.5%) against the dollar due to the greater discount of a rate hike by the Fed, trading in the markets at 1.1595 "greenbacks".
Regarding assets considered safe havens in phases of high volatility, gold fell almost 2% due to the appreciation of the dollar, settling around 4,500 dollars per ounce, while the main cryptocurrency, bitcoin, retreated by a similar proportion, to 78,000 "greenbacks".