Tuesday, January 26

The Ibex 35 rises 25% in the best month in its history spurred by vaccines

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The vaccine has reached the markets before than to medical dispensaries. The decisive advances for the distribution of an effective antigen against Covid-19 that have taken place in November They have given the Ibex 35 the best month in its history. The Spanish index closes the eleventh month of the year with a cumulative rise of 25.18% that takes its graph to 8,076.9 points.

With 15 positive sessions out of a total of 21, the Ibex 35 recovers prices from mid-March, before the coronavirus began to shake strongly in Europe and officially became a pandemic. However, the index has been left without a flourish as it suffered a decrease of 1.39% this Monday.

The fiasco of the possible merger between BBVA and Banco Sabadell It has taken a back seat to the unstoppable race of Big Pharma to find the most effective remedy for Covid-19. With effectiveness rates exceeding 90% and the possibility that even “in the next few days” emergency authorizations may already be seen for some cases, the indices have taken a run.

Analysts point out that in the case of the Spanish index, the same arguments that had condemned the index to be the worst of its European neighbors, have become your gasoline this month. The greater weight of the cyclical sectors and most affected by the crisis in the selective and the Spanish economy have facilitated their rise. Even so, the Ibex 35 continues to lag behind Europe with falls of 15%.

As if that were not enough, the buying spirit of investors has been heated by another factor: the signs that are beginning to point to a orderly transition in the White House. The acting president, Donald Trump, has already shown his agreement on several occasions to acknowledge the victory of Republican Joe Biden when the Electoral College vote is cast.

Besides, the promise of more stimulus from central banks has continued to drive profitable investors to equities. And is that the yield of the Spanish bond has fallen a vertical 44% in this month of November in view of the perspective of the “recalibration” of tools announced by the ECB for December.

Throughout these four weeks, the Spanish ten-year bond has gone from 0.137% to mark annual minimums even below 0.06%. Although this Monday it only managed to mark 0.07%, almost three hundredths above its minimum. However, the risk premium it has remained stable around 65 points due to the continuation of the decline in the benchmark German bund.

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