Spanish equities, despite the holidays, the low business volume and the early closing session, closed the session at opening levels. Very close to the level of 17,200 points with only a slight drop and already accumulating, just two and a half sessions away from closing the year with gains of over 48%, on its way to becoming the second best in history.
At the close of this short session today the IBEX 35 fell 0.06% to 17,172.90 points with falls for values such as Indra 1.04%, Bankinter 0.88% and ACS 0.47% and the advances experienced by Acciona Energías Renovables 0.92%, Grifols A 0.73% and Puig Brands B 0.61%.
On these dates of less activity, we analyze three of the stocks that are doing best in the last month and that are experiencing first-hand the Spanish selective rally: Inditex, CaixaBank and IAG.
One of the great protagonists of the day is Banco Santander, which yesterday managed to overcome the barrier of 10 euros per share at closing, a level that it had not reached since mid-April 2010. The Cantabrian bank has achieved three-digit cumulative returns and has slipped onto the podium of the three most bullish stocks of the year, only behind Indra and Unicaja.
Also in the financial sector, it must be taken into account that the board of directors of BBVA has decided to execute the amortization of the shares acquired in the 993 million euro buyback program that ended on December 10, as notified to the CNMV. Specifically, has decided to redeem the 54.3 million shares acquired. The securities have a nominal value of 0.49 euros, so the amortization entails a capital reduction of 26.6 million euros.
In other news of the day, Telefónica Tech has reached an agreement with the technology company Hiberus for the acquisition of Telefónica Tech’s businesses in Colombia, Mexico and Chile. Within the framework of the agreement, both companies will maintain a strategic alliance that will allow Telefónica Tech to continue serving multinational clients in the region, while reinforcing its strategic and operational focus.
In addition, Caixabank has informed the National Securities Market Commission (CNMV) that it has executed 18.98% of its share buyback program, which has a maximum amount of 500 million euros. Five weeks after the start of the plan, the bank has acquired a total of 9.5 million shares, worth 94.87 million euros.
Between December 19 and 23, CaixaBank purchased 1,260,055 securities at a weighted average price of 10.3926 euros per share, which represented a total outlay of more than 13 million euros.
On the other hand, the newspaper The Economist publishes that Grifols will address in 2026 the repurchase of the Scranton centers for 500 million after the Gotham attack, another stone in the hand of the blood products company that has not completely recovered in the last two years in its price.
Among the recommendations, IAG (Iberia) and the potential that RBC gives it. The Canadian firm maintains its overweight recommendation for the airline holding company with a target price of 5.72 euros per share. This means giving the value an upside potential of 19.3% from its closing price yesterday.
RBC analyst Ruairi Cullinane has updated his macroeconomic forecasts, including lower fuel prices, and raised its investment estimates until 2028.
Its profit estimates for the airline through 2026 remain largely unchanged, while it now expects FY2027 earnings per share more than 2% higher than previously forecast. IAG has an attractive valuation.
In Europe, with the DAX, the FTSE MIB and the EURO STOXX 50 not trading today, the rest of the main stock market indices open in green: the CAC 40 without marking changes at 8,103 points and the FTSE 100 in London fell 0.19% at 9,870.
On Wall Street, the S&P 500 enters Christmas Eve having set a new record close of 6,909.79 points last Tuesday. The index is just below its all-time intraday high of 6,920.34. The DOW JONES is only 260 points away from its closing record, in force since December 11 at 48,701.40 points, while its highest level of the year was at 48,886.86 points on the 12th.
Among the prevailing stocks today, Nike, with advances in pre-opening, after a presentation showed that Apple CEO Tim Cook bought almost $3 million in Nike shares.
Dynavax Tech. shares of the biopharmaceutical company rose 38% after Sanofi announced its acquisition of Dynavax in a deal with a total equity value of approximately $2.2 billion. Dynavax is a vaccine company with a hepatitis B vaccine for adults and a shingles vaccine candidate.
And UiPath, whose shares rose 8% following the announcement that agentic automation company will join the S&P MidCap 400.
And Intel. The U.S. chipmaker fell 3% after Reuters reported, citing people familiar with the matter, that Nvidia recently tested manufacturing its chips using Intel’s production process known as 18A, but halted progress.
Already in fixed income, bonds that barely move with opening levels for the 10-year Spanish bond up to 3.292% while, the German bund places its yield at 2.8670% and rises 0.07%. The risk premium corrects 1.8% to 42.50 basis points.
Regarding raw materials and specifically oil, the Brent trading at $62.46 and advancing 0.14% and West Texas rises 0.27% to $58.53.
Meanwhile, the Gold futures which have surpassed 4,554 dollars intraday, a new maximum, are trading at 4,518 at the close of the Spanish stock market. dollars per ounce and advance 0.28%
He Euro Dollar It drops a tiny 0.04% to 1.1788 in its exchange rate with the American greenback. Bitcoin It moves with cuts of 0.45% to $87,398 per asset.