Opening levels, with very moderate advances, in which the Spanish selective closed this first session of the month accompanying the generalized falls that we see, not only in the rest of the stock markets of the Old Continent, but also on Wall Street.
A day in which we see that the market trend has not changed: great volatility in values, with strong fluctuations and changes in bias and direction for many of them at the beginning of December, and in which the market is banking everything on the Fed lowering, on December 10, interest rates in the United States for the third time so far this year.
The IBEX 35 closes this Monday’s session with slight increases of 0.11% to the points, with the advances experienced by values such as Inditex 2.16%, the oil company Repsol 1.44% and Caixabank 1.14% compared to the falls recorded by Indra 2.91%, ACS 2.57% and Acciona Energías Renovables 1.99%.
Among the news we find that Aena has agreed on financing of more than 900 million euros with which it guarantees the investments of a concession of 11 airports that was awarded back in 2022 and that comes from the National Bank of Economic and Social Development and Santander.
Besides, Iberia will extend the cancellation of all its flights to Venezuela for another monthuntil December 31, following the recommendations of the State Aviation Safety Agency (AESA), as announced this Monday. The intention of the Spanish airline is to resume flights to the Latin American country as soon as «full safety guarantees» are recovered.
Just today JPMorgan has raised the target price of IAG (Iberia) shares to 6 euros with advice to overweight its shares, while placing the value as one of its favorites in the transport sector in Europe.
In analyst recommendations, those from the Citigroup firm resume coverage of Telefónica with a neutral recommendation and a target price of 3.9 euros.
For its part, the oil company Repsol sees HSBC raising its target price to 15.50 euros per share, from the previous 15 euros. Morgan Stanley analysts are more optimistic, raising the target price to 16 euros, from the previous 15.80 euros.
On the other hand, Berenberg recommends ‘buy’ Inditex and sets the target price at 52 euros per share about to present results. And it is striking that rapid weight loss with drugs like Ozempic could be one of its catalysts for the current quarter, with the change in sizes and more demand from consumers that this entails.
Deutsche Bank adjusts the recommendations of MERLIN Properties and Inmobiliaria Colonial, raising the target price in the first of them to 15 euros, from 13 previously, and in the second lowering it to 5.50 euros, from the previous 6 euros.
In addition, AlphaValue raises Indra’s target price from 27.1 euros to 36.9 euros per share. The company is also in the news after launching a temporary share buyback program of up to 12 million. And above all due to its strong falls today, although minimized from levels above 4%, in line with cuts in the sector given the potential advance of peace in Ukraine. But in your specific case due to what appears to be a delay in the purchase of Escribano, which will be postponed until 2026.
Despite this, Citigroup considers that the falls in the sector represent a buying opportunity for 2026.
Already in the rest of Europe, widespread cuts, while at the end of the day, the EURO STOXX 50 fell 0.04% to 5,666 points, the CAC 40 cut 0.32% to 8,097 points, the Dax give a 1.01% up to 23,585 points and the FT 100 falls 0.18% up to 9,702 points.
And on Wall Street, taking profits again with technology andWalt Disney in the spotlight. Increases for the Mickey Mouse company due to the success of Zootopia 2, the second part of one of its animated hits that has grossed more than 556 million dollars worldwide.
Additionally, NVIDIA is in the news after announcing that it has invested $2 billion in Synopsys common stock as part of a strategic alliance to accelerate AI computing and engineering solutions. The operation has been carried out at a price of $414.79 per share. Synopsis shares soared 7% at the opening, the most bullish in the S&P 500, but at mid-session they rose by half while NVIDIA turns around and recovers about 1.5%.
At the close of the Spanish stock market, the DOW JONES fell 0.44% to 47,507 points, the S&P 500 fell 0.32% to 6,825 points and the Nasdaq fell 0.41% to 23,271 points.
Regarding fixed income, significant rise in asset returns. The 10-year Spanish bond advances 1.77% to 3.225% while the gains are 2.14% for the German bund, which is trading at 2.7488%. The risk premium rose 0.08% to 47.51 basis points.
In raw materials, Oil Futures show increases. The barrel of crude oil Brent advances 1.33% to $63.22, while the West Texas gain 1.42% to $56.37. Gold resumes gains of 0.37% in its futures to $4,271 per ounce.
Bitcoin already opens the month in the worst possible way after cutting 16.7% in the last month. Full-blown collapse of 8.14% to $84,291 per asset. Several factors are driving the value down, including fear of a rate hike in Japan.
Finally, in the Euro Dollar relationship, the single currency rises 0.27% against the greenback to 1.1628 units.