The Spanish stock market lives its first major cut since last November 18when the tension of AI and concern about the impact on the market weighed down the Ibex 35 with the banks as a backdrop. Today again, the fears that are staged are revived, today, after getting rid of them yesterday, regarding tariffs, with Trump’s renewed threat to the European Union over his intention to take control of Greenland and the confrontation of NATO members in the background.
All of this on the day that marks one year of Donald Trump in the White House and is eagerly awaited. the meeting at the Davos Forum with the president of the Commission, Ursula Von der Leyen and leaders such as the Frenchman Macron, who is already threatening with tariff imposition of up to 200% for French champagne.
Renewed fears that raise for the second consecutive session record widespread falls in Europe, but also on Wall Street and also amount. Renewed fears that take us back to last April, when lows were recorded for many global companies.
The IBEX 35 closes the second trading session of the week with cuts of 1.34% to 17,429 points with the largest falls being values such as Mapfre 8.87%, Acciona Energía 4.52% and Acciona 4.09% and the few increases in companies such as Fluidra 1.94%, Laboratorios Rovi 1.41% and Naturgy 0.55%.
Among the news from the session today, the recommendations that encompass the best and worst of the session stand out. Mapfre collapses after the negative view that UBS cast on the value. They begin coverage with a sales advice and a target price with a large negative potential, in the double digits, and which is placed at 3.85 euros per share.
The Swiss bank highlights that its leitmotif and main driver of the group, motor insurance in Spain, is showing exhaustion, while they indicate that despite the recovery «the diversification of the business model limits the positive impact on general profitability.»
Punishment that also follows Acciona Energías Renovables, since RBC cuts the value advice by two notches, to underweight from overweight, while the target price drops from 23 euros to 20 euros per share. However, the same house raises the target price of the parent company Acciona to 135 euros per share, from the previous 115 euros.
Meanwhile, Jefferies raises the target price of Puig Brands to 21 euros per share, from the previous 20.60 euros. The recommendation remains to buy.
The best of the day, for Fluidra since BNP Pariba improves to overweight its recommendation over the previous neutral, while raising its PO to 28.50 euros per share, from the previous 23, and leads the gains of the Ibex 35 with a potential 15% over its closing price yesterday.
Banks are also receiving recommendations today, with Barclays reviewing the recommendations of several entities and elevating BBVA in a banking review before earnings season. For its part, UBS is looking at Banco Santander. Its analyst, Ignacio Cerezo, maintains the buy recommendation on the stock unchanged in light of its 2025 results. The confirmation of the annual outlook indicates an exceedance of its forecasts and current consensus estimates.
Meanwhile, in the rest of Europe, widespread falls for the second day and with significant amounts among the main markets also due to the tariff effect. The EURO STOXX 50 lost 0.55% to 5,593 points, the CAC 40 fell 0.61% to 8,062 points, the Dax loses 1.04% to 24,700 points, and the session in London closes with cuts to the FT 100 of 0.71% 10,122 points.
And the week begins on Wall Street with sharp falls due to the alleged impact of new tariffs and an alleged reopened trade war with Europe. Let us remember that a reciprocity package is on the table if the EU tax levies of 93 billion on American companies are implemented.
In the news, news about control of Warner Bros. Netflix has submitted a modified cash offer for Warner Bros Discovery’s studio and streaming businesses, although it does not increase the purchase price of $82.7 billion. According to a document filed with the regulator, Netflix to pay Warner Bros. shareholders $27.75 per share in cash by film and television studios, the library and the HBO Max streaming service. Previously, the streaming giant had offered $23.25 in cash and $4.50 in stock to buy Warner’s assets.
Today 3M has already presented its accounts. The manufacturer of the post-it falls 5.6% in the Dow Jones after earnings forecasts for the year of between $8.50 and $8.70 per sharecompared to an analyst consensus of $8.64. As for its fourth-quarter results, they were mixed, beating earnings estimates but missing revenue expectations.
Also poor reception on the stock market for DR Horton’s accounts despite exceeding analysts’ estimates with its accounts for the first fiscal quarter. The construction company has presented earnings of $2.03 per share, above the expected $1.93while revenues were $6.89 billion, compared to the $6.59 billion that analysts had anticipated.
At the close of the Spanish session, the DOW JONES shows cuts of 1.10%, which exceed 500 points, to 48,815 points, the S&P 500 drops 1.14 to 6,861 points, while the Nasdaq OMX gives up 1.31% to 23,206 points.
Already in fixed income, asset returns rise with the Spanish 10-year bond that places its yield at 3.256 and advances 0.96%, while the rise is 0.79% for the German bund, up to 2.8626%. The Spanish risk premium rises 2.52% to 39.43 basis points.
For its part, in raw materials we see advances that occur to barrel futures, with Brent, the benchmark in Europe, up 1.30% to $64.78, while those from American West Texas advanced in price by 1.48% to $60.20.