Ibex 35 rises 1.54% amid AI market diversification strategies

The Spanish Ibex 35 index rose 1.54% over the week, reaching 19,326.30 points. This growth follows a reduction in pressure within sovereign debt and technology markets, which have recently faced uncertainty regarding the financing of artificial intelligence.

Market performance was also influenced by comments from U.S. Federal Reserve officials, which tempered expectations for immediate interest rate hikes. Despite this, analysts note that markets are still pricing in potential rate adjustments in the coming year due to inflationary pressures from retail sales and employment data.

Amid concerns regarding an artificial intelligence valuation bubble, Jefferies has identified five Spanish companies as potential defensive assets for diversification: ACS, Amadeus, BBVA, Indra, and Santander. These firms are viewed as being less exposed to the high-multiple risks currently seen in AI-linked stocks, which trade at significantly higher price-to-earnings ratios than the broader market.