The Ibex 35 has extended this Thursday the bullish streak of the week and has closed with a rise of 0.62%, up to 20,180.4 points, a new historical maximum for the main index of the Spanish Stock Exchange.
During the session, the selective index managed to exceed 20,300 points, although it lost some of the momentum in the final stretch. The Spanish Stock Exchange thus consolidates the barrier of 20,000 units, conquered for the first time on Tuesday.
The attention of investors has continued to focus on the Middle East and, in particular, on the advances between Iran and Oman to establish a safe route for ships crossing the Strait of Hormuz.
The temporary agreement contemplates that the incoming traffic will flow through Iranian waters and the outgoing traffic through a route closer to Oman. The market remains attentive, however, to whether the rapprochement translates into a stable reopening of the maritime passage and avoids a new escalation with the United States.
Telefónica and BBVA boost the index
Within the Ibex, Cellnex has led the advances with a rise of 3.59%, followed by Acciona Energía, which has gained 2.98%.
Among the most present values in the portfolios of small shareholders, Telefónica has stood out, with an advance of 2.27%. The operator has thus positioned itself among the main contributors to the good performance of the selective index.
BBVA has also recorded a positive evolution , while Unicaja has advanced 2.03%. The financial sector continues to be one of the main supports of the Ibex in its climb towards new highs.
Endesa has gained 1.99% and Acciona, 1.91%, completing the group of companies with the largest advances during the session.
Amadeus and steelmakers lead the declines
On the negative side, Amadeus has led the declines with a drop of 1.88%, followed by Acerinox, which has fallen 1.41%, and ArcelorMittal, with a cut of 1.27%.
Ferrovial has lost 1.18% and Puig has ceded 1.12%.
The closing again reflects an uneven evolution among companies: while telecommunications, electricity, and part of the banking sector have boosted the index, values linked to steel, infrastructure, and travel have recorded declines.
The U.S. labor market enters the scene
In addition to the negotiations over Hormuz, investors have followed the labor references coming from the United States.
The initial unemployment benefit claims rose to 199,000 during the last week, 1,000 more than in the previous period, but below the 203,000 expected by the market. Attention is now turning to the official employment report that will be published this Friday.
A labor market stronger than expected could reduce the Federal Reserve's margin to relax its monetary policy, while weak figures would fuel expectations of future rate cuts.
Spanish industrial production accelerates
In Spain, industrial production increased by 3.8% year-on-year in June, 3.3 points more than in May, and marked its fourth consecutive increase.
In Germany, factory orders rose by 3.1% month-on-month, well above the 0.3% increase recorded the previous month. The data was particularly driven by machinery and computer, electronic, and optical products.
The Spanish Public Treasury has also placed 6,042.8 million euros in bonds and obligations, within the expected range, although it had to raise the yield offered on the four auctioned references.
Oil rises again
In the commodities market, the Brent barrel has increased by 2.84%, to 81.69 dollars, while the U.S. West Texas Intermediate has risen by 2.29%, to 76.92 dollars.
The rebound reflects that, despite diplomatic advances, investors still maintain a risk premium linked to the situation in the Middle East and uncertainty about the effective reopening of the strait.
In fixed income, the yield on the Spanish ten-year bond has risen to 3.566%, compared to 3.550% on Wednesday. The risk premium over the German bond, however, has slightly decreased to 43.8 basis points.
In the foreign exchange market, the euro has fallen by 0.26% against the dollar, to exchange at 1.1523 dollars.