The Ibex 35 lost 9,700 points in its penultimate session of the year dragged by the falls on Wall Street, which were the deepest in the last three weeks, despite not exceeding the percentage point. It has not been a day of great macroeconomic references, so a simple collection of benefits after recent increases, is more than enough reason to explain these falls.
Investors remain in expectation after reaching annual highs and ending with the best annualized return in recent years. The partial agreement between the US and China and the absolute majority of Boris Johnson have reduced the tension, but have not made it disappear. We will still live with both factors during 2020, in addition to continuing to face a process of economic stagnation.
Most of the values ended the session in negative, and the most notable falls were those of Endesa and Cellnex, which exceeded 2%. Tomorrow ends the year with a session until 2:00 pm, in which a much lower than average volume is expected, so the Spanish selective could end the year above 9,600 points, with an annual profitability above 12%