There was no desire to sell securities today on the Spanish stock markettoday with an early closing before Christmas Eve, but which, in the end, has left the market with a good taste in its mouth, consolidating 11,400 points.
With little volume, given two planned days of holidays, the Spanish stock market will close its doors on the 25th, but it will also do so on December 26, despite it not being a holiday in Spain. St. Stephen’s Day is celebrated throughout Europe and the rest of the markets on the Old Continent close, so the calendar is unified. The next session of the Ibex 35 and the rest of the Spanish stock market will be held on Friday the 27th.
Today, with ranges of less than 50 points between the maximum and the day, buying has clearly prevailed, with movements in narrow ranges and little news, despite the positive tone.
In this way, the IBEX 35 ends the session with advances of 0.33% to 11,473.90 points, with increases for Sacyr 1.89%, Banco Sabadell 1.48% and Ferrovial 1.20% and cuts for values such as Fluidra 0.92%, BBVA 0.37% and Solaria 0.31%.
Among the news of the day, we find above all recommendations. RBC pronounces on its preferences between Santander and BBVA.
Specifically, it improves Banco Santander’s target price to 5.20 euros per share, from the previous 4.95 euros. The new valuation represents an upside potential of 20% for the bank.
At BBVA, the rise in RBC is from 11 euros to 11.80 euros per sharewhich implies a upside potential of 26.88% compared to Monday’s close.
Already in the case of Inditex, the Canadian bank underweights the shares of the company chaired by Marta Ortega with a target price of 50 euros per share, with hardly any potential in the next 12 months.
Its analyst, Richard Chamberlain, highlights that right now he considers that there are better options on the market, such as Zalando and Sainbury, which are his favorites.
UBS which leaves Inditex shares with a neutral rating and marks its target price with slight negative potential, at 49 euros per share.
However, consider to justify the OP and the recommendation that the share price already exceeds the prices in the leading business model in the industry, so you are hoping for a better entry point.
In the case of Endesa, through Enel Green Power Spain, it has closed the sale of a minority stake equivalent to 49.99% of the share capital of EGPE Solar a Masdarthe UAE’s clean energy leader. EGPE Solar is an entity that owns Endesa’s operational photovoltaic (PV) assets in Spain, with a total installed capacity of around 2 GW.
In the rest of Europe, also little story in this session at less than half gas, especially due to the absence of business in Frankfurt, with Dax on the pan-European indicator, the EURO STOXX 50.
In this way, at the close of the market, the CAC 40 appreciates by 0.14% to 7,282 points and the session in London ends for el FT 100 with gains of 0.42% to 8,136.99 points.
On Wall Street, mixed pre-opening for indicators, with slight cuts in the DOW JONES Ind Average and barely any last minute movements for the Nasdaq OMX and the S&P 500 in positive.
The great doubt of the markets is if the so-called Santa Claus rally will take place. The S&P 500 has gained an average of 1.3% in the last five days of December and the first two days of January, according to data from the Stock Trader’s Almanac dating back to 1969.
On the corporate front, US Steel shares are down more than 3% in pre-opening. As reported by a White House spokesperson, the $15 billion offer from Nippon Steel by the American has been sent to US President Joe Biden, who has 15 days to decide on the operation.
The Committee on Foreign Investment in the US (CFIUS), which reviews foreign investments for national security risks, referred the deal to Biden after he could not reach a consensus. The outgoing president has previously been critical of the merger, which President-elect Donald Trump also appears to oppose.
Investors should also be attentive to the prices of large banks, such as Bank of America, JPMorgan Chase or Goldman Sachs, after yesterday the Federal Reserve announced that it will study a relaxation in the annual stress tests to which it subjects the entities. .
But the breaking news leads us to look at American Airlineswhich has reported the cancellation of all its flights due to a technical problem. “No estimated timeframe has been provided, but they are trying to fix it in the shortest possible time,” the company said in a post on X, responding to a question from a passenger, but without further news at the moment. The value fell 3.4% in the pre-opening while awaiting further explanations.
At the close of the Spanish market, the DOW JONES futures fell 0.08% to 42,873 points, while the S&P 500 futures rose 0.05% to 5,977 points and the NASDAQ 100 futures advanced 0. 19% to 21,537 points.
In fixed income, The 10-year Spanish bond maintains opening levels at 3.022% while, the German bund stands at 2.322% with cuts of 0.36%. The risk premium rose 1.08% to 70.15 basis points.
The oil, European Brent futures rise 0.68% to $72.81, and The American West Texas is trading at $69.73 and gains 0.71%. And Gold moves slightly upwards with gains of 0.08% to $2,615.28 per ounce
The Euro Dollar barely moves, the single currency drops 0.03% to 1.0402 units. Bitcoin, for its part, corrected 1.8% again to $94,235 per asset.