The Spanish stock market joins the positive sign that permeates the entire global stock marketl. Generalized gains for the indicators and the Spanish selective, the scare, it seems, of the potential AI bubble has passed in what seems to have been, at least in the Spanish case, a mere taking of profits without the supports having been stirred up in the case of an Ibex, which maintains the upward trend in the background in the face of a potential rally at the end of the year which the experts are betting on, but without the intensity of what has been seen so far in the market.
At the close of the session, the IBEX 35 rose 0.39% to 16,098.40 points with the gains of companies such as BBVA 2.44%, Amadeus 1.97%, and Bankinter 1.9% and the losses presented by values such as Grifols A 3.24%, Indra 2.83% and Telefónica 2.76%.
Among the protagonists of the session, again, on the negative side, Telefónica. Analysts do not see short-term visibility, which coincides for another day with the prolongation of sales by investors and their accumulated punishment that exceeds 14.6% in just two sessions. something that contrasts with a more positive vision for the medium and long term of the company, for which its Strategic Plan is really designed. In Ei we have collected both fundamental and technical opinions on the potential evolution of the value.
Grifols is also very punished today with a net profit until September of 304 million euros, which represents an increase of 245% compared to the same period in 2024. The accumulated net profit was driven by the net profit in the third quarter, which reached 127 million euros, an increase of 146%, and in line with the previous quarter. Revenues for the first nine months of the year increased by 7.7% at constant exchange rates (cc), reaching 5,542 million euros.
The board of directors of Indra has called an extraordinary general meeting of shareholders to be held on November 27 on first call or November 28 on second call, as communicated to the CNMV. At this meeting it will be submitted for approval the acquisition of 89.68% of the share capital of Hispasat for a total of 725 million euros. Likewise, shareholders must vote for the re-election of María Belén Amatriain Corbi, Virginia Arce, Bernardo José Villazán, María Teresa Busto del Castillo, Mónica Helena Espinosa Caldas and María Aránzazu Díaz-Lladó as independent directors.
It is another of the values, which with accumulated increases of 200%, is reaping benefits today but for which Ei’s technical analysts do not see problems in healthy corrections as long as it does not lose closing support levels from last Friday.
Also noteworthy are the increases today by Inditex, which has just purchased 381,000 square meters of logistics land worth 65 million euros next to the Volkswagen gigafactory in Sagunto.
Regarding analyst recommendations, JP Morgan raises Ferrovial’s target price from 53 to 58 euros per share. In addition, the company has advanced the payment of the interim dividend in shares to November 25. On the other hand, analysts also review the valuations of BBVA and Unicaja.
Already in the rest of Europe, the positive sign predominates, while the Danish one falls sharply, 4% Novo Nordiskwhich has cut prospects and has not met the estimates that the market expected due to the restructuring costs undertaken, with some 9,000 layoffs announced. Along with this, lower figures than intended for its anti-obesity and diabetes drugs.
At the close, the EURO STOXX 50 rose 0.13% to 5,667 points, the CAC 40 advanced 0.08% to 8,074 points, the Dax gana 0.47% to 24,062 points, and the session in London ends for el FT 100 with increases of 0.63% to 9,776 points.
On Wall Street, increases are returning, especially after doubts related to AI, although given the scarcity of data, the ADP report on private job creation has pleased investors. Better than expected, it shows the best levels of job creation since July, despite the weakness it continues to show.
Regarding the results, AMD shares rise half a point mid-session, after Amazon announced in a statement to the SEC the dissolution of its stake in the company during the third quarter. Elsewhere, the chip company reported third-quarter earnings that beat expectations, with adjusted earnings of $1.20 per share and revenue of $9.25 billion. Analysts had forecast earnings per share of $1.16 and revenue of $8.74 billion.
McDonald’s registers increases of 2%. Despite slightly lower-than-expected profits, comparable sales figures did exceed market forecasts. The restaurant chain has put on the table earnings per share after adjustments of $3.22, compared to the expected $3.33 per share. Revenue increased 3% to 7.08 billion, in line with expectations.
At the end of the day in the Spanish stock market in this Wednesday session, the DOW JONES Ind Average remains with gains of 0.01% to 47,089 points, with an S&P 500 that rises 0.4% to 6,799 and a Nasdaq OMX that marks levels at 23,521 points and advances 0.74%.
Already in fixed income, asset returns rose at the close, from 0.79% for the 10-year Spanish bond to 3.18% while, the German bund places its yield at 2.6715% and advances 0.74%. The risk premium rose 0.5% to 50.86 basis points.
In oil, advances for the future of the European Brent barrel that is trading at $64.58 and rising 0.22% and for West Texas, which, in this case, advances 0.25% to $60.71. Meanwhile, Gold Futures gain 0.77% to $3,990 per ounce
The Euro Dollar with downward movements of 0.07% while the single currency is exchanged against the greenback at 1.1475 units. With Bitcoin advancing 1% to 103,245 and moving away from the bear market, after losing, last night, the 100,000 dollars that it is already recovering today.