In economic recovery, it is not the only thing in which Spain lags behind the rest of the large EU countries. The Ibex 35 closed the whole year in positive yesterday – there is no stock market on New Year’s Eve – but it continues well below pre-Covid levels. Specifically, 13.5% below the maximum peak reached in February 2020. The national team must still wait to celebrate a total rebound.
The year 2019 ended at 9,549.2 points. An upward trend that culminated on February 19 of the following year at 10,083.6 points. Those figures are already far behind and the 10,000 barrier seems difficult to overcome in the short term, also given the recent evolution of the pandemic.
From that date the Bag collapsed … and has not recovered since. Neither in the remainder of 2020 nor in all of 2021.
The evolution this year has been anything but flat. It has been very consistent with the health situation and the restrictions derived from it. The worst moment was experienced in the third wave at the beginning of the year when it fell below 8,000 points. From February to June, then, the rise was continued to 9281.1 points, and the continuous ups and downs came.
The last trading day of the year ended at 8,713.80 points. The rise on December 30 was just 0.46%; However, a slight upward trend can be seen after ten days with the rising curve, in the middle of the sixth wave and with the contagions runaway by Ómicron. The annual increase in 2021 has been 7.9%.
Likewise, the comparison with the end of 2019 is not favorable for the Ibex 35, and that taking into account that it started from lower levels than the peak that was reached in February 2020. The 9,500 points were barely exceeded on those dates two years ago, so that the national selection still remains 8, 7% below the figure that ended in the year before the pandemic.
On the other hand, other parks in the European Union such as French, Italian or German are already at levels above the maximum peak just before Covid-19. “Despite the ups and downs experienced during a good part of the year, the European stock markets have performed well, reaching new all-time highs, such as the Dax 40 (Germany) and Cac 40 (France)”, says Diego Morín , IG analyst.