Friday, September 30

The IBEX 35 ties the bullish streak before the Christmas break

The IBEX 35 opened higher on Thursday and had three consecutive rises before the bridge for the Christmas festivities. The Spanish index is driven by subdued optimism about omicron’s threat to the economic recovery.

Context // Investors were clinging, for the moment, to the studies that point to a possible less seriousness of the new variant of coronavirus and to the news about the defense that drugs and vaccines provide against it.

  • On Thursday, Astrazeneca said that three doses of its vaccine are effective against omicron
  • On Wednesday, Pfizer’s antiviral pill received the green light in the US and became the first home-use treatment for the coronavirus.

Threats // Some analysts warn of high volatility in financial markets, vulnerable to drastic mood swings.

  • “(We are facing) cyclothymic markets, which one day see omicron as a huge risk for growth and the next as a risk limited in time and amount with which the economy and markets can coexist, if it is a softer variant (…) that avoids the imposition of severe restrictions “.