The Spanish stock market once again exceeds a new threshold of pain, as it is confirmed that the conflict continues with renewed strength and that it will not be, at least today, a very short war.
Volatility is here to stay and good proof of this It’s almost 400 points on which the selective has oscillated this Thursday, between the best and the worst of the day, which with the bearish opening on Wall Street, has been consolidated in the last hour of business, since, during half a session, The gains even exceeded one percentage point on the Ibex 35.
Cuts are imposed and the selective loses the level of 17,300 points with an eye on investor fears, which are consolidating in a market marked by rise in oil that reaches levels of 84 dollars, for the benchmark Brent barrel in Europe, while the dollar is consolidating itself as a refuge for all to see.
The IBEX 35 closes this Thursday’s session with cuts of 1.38% to 17,245.20 points with the falls of values such as ArcelorMittal 6.56%, Indra 4.11% and IAG (Iberia) 3.58% and the increases marked by companies such as Grifols A 1.96%, Amadeus 1.86% and Repsol 0.55%.
In terms of news, Grifols is on the rise, receiving strong support today from Bernstein analysts. The firm has not only reiterated its recommendation of ‘overweight‘ for the blood products company, but has raised the target price of its shares to 20 euros per sharefrom the previous 15.50 euros.
The new valuation represents a upside potential of no less than 94.88% compared to yesterday’s closing, Wednesday.
Repsol also rises today although only slightly, since, from JPMorgan, JPMorgan analyst Matthew Lofting, in his report on the sector, between 20 and 30% of gas and oil shipments pass through the Strait of Hormuz and the duration and scope of the threat to maritime transport through the strait following the escalation in the Middle East are, therefore, crucial for the future evolution of energy prices.
We have also learned that a company linked to Market Financial Solutions (MFS)a British mortgage entity that went bankrupt last week, owes Banco Santander between 200 million pounds (267 million dollars) and 300 million pounds, according to information provided by Bloomberg Newswhich bases its information on a source with knowledge of the matter. The exposure of the Spanish financial institution is guaranteed by a portfolio of mortgages, the information adds. Santander is today one of the most affected values in the market.
Already in the rest of Europe, widespread cuts that have been increasing in the face of the cuts that have taken shape on Wall Street. The EURO STOXX 50 lost 1.46% to 5,784 points, the CAC 40 fell 1.49% to 8,045 points, the Dax loses 1.63% to 23,834 points, and the session in London closes with cuts to the FT 100 of 1.46% 10,412 points.
And on Wall Street, widespread cuts, with investors attentive to the NVIDIA price. The company’s CEO, Jensen Huang, has stated that the recent $30 billion investment in OpenAI “could be the last time” he invests in the artificial intelligence startup before it goes public at the end of the year.
Among the companies to present results, Broadcom has put on the table solid results for its first fiscal quarter, recording revenues that grew by 29% and exceeding market expectations. The company’s adjusted earnings per share were $2.05 and revenue of $19.31 billion, compared to forecasts of $2.03 per share profit and $19.18 billion in revenue. Revenue guidance for the current quarter also beat estimates. The company’s shares rise 4.4% at mid-session
On the other hand, Berkshire Hathaway has announced a buyback of its own shares for the first time since 2024. The conglomerate reveals in a regulatory filing that it began buying back its Class A and Class B shares on Wednesday. Berkshire’s policy allows the company to buy back shares when the CEO, after consulting with Chairman Warren Buffett, believes the buyback price is less than Berkshire’s intrinsic value. In addition, Greg Abel, the new CEO, has acquired shares worth $15 million.
At mid-session and before the close of the Spanish stock market, the DOW JONES shows cuts of 1.29%, which exceed 600 points, to 48,112 points, the S&P 500 drops 0.51 to 6,834 points, while the Nasdaq OMX gives up 0.26% to 22,751 points.
Already in fixed income, asset returns are rising, given the market tension, with the Spanish 10-year bond that places its yield at 3.277 and advances 2.5%, while the rise is 3.06% for the German bund, up to 2.83%. The Spanish risk premium rises 2.10% to 45.14 basis points.
For their part, in raw materials we once again see important advances in their prices that follow one another to barrel futures, with Brent, the benchmark in Europe, up 3.28% to $84.10, while those from American West Texas advanced in price by 5.42% to $78.70. July 2024 levels, along with those of gas.
Regarding Bitcoin, it presents cuts of 2.6 to $71,410 per asset. Finally, in the Euro Dollar relationship with increases of 0.47% for the greenback while it is exchanged at up to 1.1578 units.