The Spanish stock market has tried it all day. After touching the selective 17,000 points for a good part of the session, it has not been able to close above that level Given the cuts, the banks’ progress in the last hour of business, also because the falls in the S&P 500 and the Nasdaq OMX have increased.
The most positive part is the weekly gains, which reached 1% on the Ibex 35, because the last minute falls have left us without the tenth historical maximum of the year and the fourth in December.
The IBEX 35 closes this Friday’s session with falls of 0.17% to 16,854.40 points with cuts for values such as Caixabank 2.5%, Indra 1.62% and Banco Santander 1.49% and the advances experienced by companies such as Acciona Energías Renovables 2.15%, Redeia (REE) 1.43% and Acciona 1.42%.
Among the leading values, Inditex stands out, which marks historical highs above 56 euros per share and a capitalization that exceeds 174,000 million euros. The final push has come from the new recommendation from Bernstein Research, which maintains its overweight recommendation on its shares, but with a target price of 60 euros per share, which represents a margin for improvement of 9%.
Consumers across most of Europe appear to be shrouded in a cloud of caution, saying that while there are some favorable economic factors that could boost margins, continued weakness in demand is likely to mean that only fundamental differences in business models will separate the winners from the losers. And among the predicted winners are Puma and Inditex.
And of course, Ferrovial is talking about the open possibilities to be part of the NASDAQ 100, in the last ‘play-off’ to enter the Times Square selective and that for a good part of the morning it has led the advances of the Ibex 35.
Indra, with a revaluation of 191% in the heat of the plans of Spain and other European countries to increase defense spending. Today the company is in the news since, through its startup investment fund Indraventures, it has made its first investment by acquiring 24.8% of a Valencian company specialized in ultrafast lasers. Of course, today positions have been corrected at the close of the session.
Naturgy (Natural Gas) also remains under the spotlight, which yesterday fell 6.65% after a divestment from Global Infrastructure Partners (GIP). As published today by Expansión, the fund, controlled by BlackRock, aspires to retain three directors despite the fact that, after selling 7%, it proportionally has two. The pact with CriteriaCaixa is key.
On the other hand, Sacyr has formalized with a credit institution a forward contract on 10 million ordinary shares with an initial reference price of 3.74 euros (37.4 million euros in total), adjustable depending on the final execution price and with a maturity of one year.
Meanwhile, again a good session to Iberdrola’s highs, with Goldman Sachs as support. Goldman Sachs maintains its ‘buy’ recommendation for Iberdrola and raises the target price to 20.5 euros per share, with an upside potential of 15.75%.
If it reaches this level, the company would shatter its historical highs, until now set at 19.28 euros, and would reach a market capitalization close to 137,000 million euros.
It is the case of Landesbank Baden-Wuerttemberglooks at Santander. Decides to maintain its recommendation of ‘comprar‘ for Banco Santander, while raising the target price to 11 euros per sharefrom the previous 9.60 euros. This new valuation represents an upward potential of 12.47%.
In the rest of Europe, At the close of the session, the EURO STOXX 50 fell 0.63% to 5,717 points, the CAC 40 fell 0.21% to 8,068 points, the Dax cede 0.41% to 24,178 points and el FT 100 At Friday’s close, it dropped 0.63% to 9,640 points.
And on Wall Street, a change in bias that has hurt the Spanish stock market, with clear profit-taking and AI concerns about the poor reading of Broadcom’s results, which means a rotation of assets outside the world tech on the other side of the Atlantic. The Dow Jones, after reaching new highs, turns negative
As for the stocks that are in the news, Tilray Brands, the company that markets medical cannabis, rose 36.7% at the beginning of the session. The development comes after The Washington Post noted that the Trump administration was seeking to ease federal restrictions on marijuana. In fact, CNBC indicates that Trump will sign an executive order to reclassify marijuana no later than Monday.
Broadcom shares fall more than 4% even though the chipmaker beat Wall Street expectations with its fourth-quarter report, further stating that AI chip sales in current quarter should double year-over-yearreaching 8.2 billion dollars.
At the close of the Spanish session, the DOW JONES fell 0.47% to 48,476 points, the S&P 500 lost 1.2% to 6,815 points and the Nasdaq OMX lost 1.82% to 23,161 points.
In the rest of the market, we start with the fixed income market, with increases in the 10-year Spanish bond, from 0.52% to 3.31% while in the case of the German bund, it advances 0.40% to 2.8573%. The risk premium drops 1% and corrects to 45.35 basic points.
In raw materials, oil falls due to concerns about Russia and the increase in OPEC supply, along with the Venezuelan problem. falls with a future for the Brent barrel that presents half-point cuts to $60.96 while West Texas places its price at $57.31, and gains 0.52%. Gold reduces its gains to opening levels, while moving away from new all-time highs at $4,313 per ounce.
Already Bitcoin, with slight advances of 0.25% to $89,942 per asset. Finally, in the Euro Dollar relationship with a slight increase for the single currency of 0.02% to 1.1741 units, in the third week of falls for the American greenback.