The Spanish Variable Income closes in red a negative week On account of the bad definitive reading of the American employment data, which has filled volatility to an Ibex 35 that until then and even, with a first reading it was positive.
Investor’s desire could be more than a cut of interest rates in the United States on the 17th than the weakness, increasingly high, in the creation of American employment with only 22,000 new jobs in August.
The government cuts made by Trump and in mining and gas, sectors punished in August in the USwhile unemployment up to 4.3%. That means weakness with capital letters in the first economy of the world and, although a first reading was positive, then the falls have been generalized on Wall Street, with European drift.
In this way at the close of Friday, IBEX 35 loses 0.45% to 14,850 points with the falls of values such as indra 2.32%, Bankinter 2.04% and Inditex 1.41% and the increases experienced by Cellnex 2.31%, acts renewable energy 2.06% and ArcelorMittal 1.8%.
Among the protagonists of the day, BBVA stands out. The CNMV gives the green light to BBVA’s hostile OPA on Banco Sabadell. The offer is of a new BBVA issuance and 0.70 euros in cash for every 5.5483 shares of Banco Sabadell. The acceptance period will include between September 8 and October 7. And all this as long as they are not raised, for the moment, although there is room for the improvement of the offer up to five days before the directors of the Basque entity.
Meanwhile, we previously knew that the US SEC has granted three dispensations requested by BBVA to align the deadlines contemplated in the laws that regulate the regime of public offers of securities in both countries, the entity informed the CNMV.
After the approval of the OPA for the CNMV, Jefferies places the target price of BBVA in the 17.70 euros per share, so that its potential estimates it in a 12% increase since its closing yesterday, with a purchase recommendation. Its analysts stand out that although BBVA can still improve the conditions (somewhat discounted in the prices of the shares for an amount of approximately 1.5 billion euros), the address remained firm this morning in terms of the strategic and economic logic of the current offer.
Among the most punished today is Indra, which will invest 43 million euros in the conversion of the old Felguera hard plant that it acquired in June and that will be oriented to the manufacture of armored vehicles. The market punishes it in this new negative week for value.
Without leaving the financial sector, Caixabank has executed 63.27% of its repurchase of shares in the twelfth week of the program, whose maximum amount has been set at 500 million euros. Specifically, in this new program of the program has acquired 1,651,373 titles, at a weighted average price of 8,5070 euros and an amount slightly higher than 14 million euros.
IAG (Iberia) will apply a fixed interest rate of 3,352% to the non -guaranteed senior bonds that issued yesterday morning for an amount of 500 million euros and expiration in 2030, as reported to the CNMV.
As for the recommendations of analysts, RBC maintains a recommendation of ‘Performing Sector for Iberdrola with an objective price of 16.70 euros.
Already in the rest of Europe, the euro Stoxx 50 yields 0.53% to 5,318 points, CAC 40 falls 0.40% to 7,732 points, the Dax loses 0.82% to 23,593 points, and the session in London closes with cuts for el FT 100 0.06% 9,212 points.
In Wall Street, total prominence, as we have seen of its employment data, which has in the end, after showing a lot of volatility and negative advances to all indicators at the middle of the session.
Cuts that are growing throughout this short week in the New York Stock Exchange and in which The falls will move new maximums to the S&P 500 To open the melon again of concerns about the march of the American economy, with a clearly weak dollar.
As for protagonists, Broadcom stands out that shoots 10% after results of its third quarter better than expected, added to optimistic perspectives. The semiconductor company reported awarded earnings per share of $ 1.69 about revenues of $ 15,590 million. Analysts had expected a benefit of $ 1.65 per share and income of $ 15,830 million.
At the close of the Spanish session, Dow Jones is shown with 0.69% cuts to 45,306 points, the S&P 500 drops 0.55 to 6,467 points, while the Nasdaq OMX yields 0.32 to 21638 points.
Already in the fixed income, the ‘employment’ effect is drawn with the fall in the profitability of the assets with The Spanish 10 years bonus that places its performance at 3,253% and falls 1.66%, compared to the 2.19% that lowers the German Bund, to 2,6615%. The Spanish risk premium drops 0.15% to 58.64 basic points.
On the other hand, in the raw materials we see important falls that occur to Barril’s futures, with a brent, reference in Europe, of 2.48% to $ 65.34, While those of the American West Texas, yield 2.69% to $ 61.78.
Gold futures are the big winners of the afternoon, with the currencies outside the green ticket. They rise 1.07% to 3,645.90 dollars an ounce. Goldman Sachs has warned about the possibility that the price of gold reaches $ 5,000 if Trump’s pressure on the Fed impacts institutional trust.
The euro dollar gains positions with 0.7% increases to 1,1732 units, for the bad American employment report, while Bitcoin rises 0.81% to 110,746 dollars per active.