The Ibex 35 fell about 1.6% to close at 8,188 on Wednesday, as global sentiment remained volatile, with investors weighing the potential for a global recession as major central banks consider even more aggressive tightening to curb inflation. On the domestic data front, Spain's annual inflation hit 10.2% in June of 2022, the steepest since 1985 and much higher than market forecasts of 9%, dashing hopes that inflation had peaked and instead suggesting inflationary pressures are intensifying. Within the Spanish selective, shares of pharmaceuticals company Grifols slumped over 12% after news website El Confidencial reported the company was considering a 2 billion euro capital increase to reduce its debt. Fluidra also suffered important losses (-9.4%), after launching its sixth payment program for a maximum outstanding balance of €150 million.
Historically, the Spain Stock Market Index (ES35) reached an all time high of 16040.40 in November of 2007. Spain Stock Market Index (ES35) - data, forecasts, historical chart - was last updated on June of 2022.
The Spain Stock Market Index (ES35) is expected to trade at 7970.40 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 7202.87 in 12 months time.