The Ibex 35 rises 7.9% but ends 2021 as the most lagging stock market in a year of records in the markets

A little more than 614 points, that has been the balance of the Ibex 35 in a year of significant gains for stock markets around the world.

Only the Asian markets have done worse and only the mini

of these last days of the year has made up a

and that has placed it, once again, as the student that lags the most among the main markets in Europe and USA.

The main index of the Spanish stock exchanges ends 2021 with

. The balance may seem positive taking into account the setbacks of previous years, but put in perspective, the analysis changes: the rest of the European indices almost

(as is the case of the Dax in Frankfurt, with an advance of 15.7% ); They

(such as the Ftse Mib in Milan, with 22.5% above, or the Eurostoxx 50, with 20.7% more), or they have registered an even greater advance (such as the Cac 40 in Paris, which has increased by 28.35%).

All this in a

as far as equities are concerned. With the rise in inflation forcing central banks to reorient their roadmaps; with the crisis in the supply chain that has collapsed global trade; with the crisis also of microchips and components; with the prices of energy and raw materials soaring, and with the appearance of the omicron, which in the last quarter has once again put companies and governments around the world in check in the face of a possible slowdown in the recovery.

Javier Molina

, an analyst at eToro, titled

one of his latest analyzes, and it is likely to be the summary of the most synthetic and graphic stock markets of the year.

In it, Molina pointed to "absolute weakness, very low volume and the feeling of an increasingly high opportunity cost in case of allocating resources" to the Spanish indicator.

For others, such as

Analysis department

, "the asymmetry is explained by business results, both in the case of the all-time highs on Wall Street, and the negative decoupling of the Spanish stock market."

Causes

To the conjunctural reasons must be added the structural ones, and it is that the

continues to be its main burden when it comes to attracting investors. "The still high weight of financial companies, as well as the delay in the recovery of figures in sectors related to tourism and mobility, explains almost all of this difference in benefits. Although not all," they point out from Bankinter. "The

highly dependent on the receipt and correct use of the European NGEU2 funds, conditioned to a series of reforms still pending, as well as the

precisely now, when the post-crisis recovery is more vulnerable, with the creation of five new taxes and the raising of the rates applicable to several others. "The entity refers to the so-called 'Google rate', the tax on sugary drinks , the 'Tobin tax', the tax on plastics and green taxation.

Despite this, more than half of the Ibex 35 companies have finished the year in

or, in other words, only ten have closed with a negative sign.

The newcomer

crowns the podium of the best values, with an advance of 95.7% that has almost allowed it to double its capitalization to 4,138 million euros.

The second place goes to

, the swimming pool giant that once again scored a good year thanks to a 70% revaluation.

However, one of the biggest surprises is in position number three, occupied this year by

.

And it is surprising because it is a bank - taking into account that the rates have remained unchanged in these 12 months - and because it is the Sabadell, which in previous years had been penalized by the weakness of some areas of its business.

Nothing to do with 2021, as the bank's shares have accumulated a rise above 67% to stand at 0.59 euros and have raised the capitalization to 3,330 million euros.

Banks and tourism

In general, it has been a positive year for the Ibex 35 financial sector in which

(+ 37.1%),

(+ 33.6%),

(+ 18.6%) and

(+ 16% ) there have been notable increases after several years of declines. The experts point out that the entities are in valuations below their historical averages and that they are benefiting from the greater economic dynamism and from the prospects of normalization of the rates for next year.

They will undoubtedly be one of the focuses of attention in 2022 along with other segments such as tourism. It seemed that 2021, with the reopening of the activity and the borders, was going to allow tourism companies to recover from the blow that was 2020, however, the delays in the vaccination processes, the appearance of omicron and the return of the restrictions in The final stretch of the year has ended up weighing down, again, values ​​such as

(-4.9%),

(-2.4%) or

, which has saved the green by the minimum (+ 0.13%) .

, for its part, has registered an advance of 4.9%.

Along with tourism, energy and pharmaceutical companies are the other group of companies that suffered the most in the Spanish index.

closed with the dubious honor of being the worst value on the selective (-36.3%), ahead of

. Energy companies have suffered the impact of regulatory changes and the uncertainty in this regard has outweighed the increase in prices registered since the middle of the year.

Two other proper names for the Ibex 35 at the end of the year in the markets have been

.

The first has managed to overcome 29.6% in the process of reducing debt and staff to adapt to the new telecommunications context;

the second closes with 12.3% more in its shares to face the replacement in the dome that will give the presidency to Marta Ortega.

The textile giant continues to be the most powerful company of all those that make up the index with a capitalization of 88,918 million euros, 20,000 million more than Iberdrola (66,271) and almost 40,000 more than Banco Santander (50,990).

According to the criteria of The Trust Project

Know more

• economy

• Omicron variant

MacroeconomicsThe impact of omicron on stock markets: "The rebound will not take long to come and will favor technology companies"

MarketsThe European stock markets tremble at the increase in infections and the threat of new restrictions

Forum New horizons for the hotel sectorSimón Pedro Barceló: "There will be no economic and social recovery in Spain without tourist recovery"

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