Everything has turned out almost perfectly in this third trading session of the week, which forgets France and the European growth problems, today evidenced by the OECD and its forecasts, and launches investors to buy so that, The Spanish stock market ends a day in which its selective already looks into the eyes of new annual highs and those of the last 14 years and to make up for lost time from those record levels set in mid-October.
Thus the IBEX 35 closes the session with gains of 0.49% to 11,931 points with the increases of IAG (Iberia) 4.24%, MERLIN Properties 2.24% and Inditex 2.04% and the cuts of ArcelorMittal 1 .38%, Logista 1.06% and Repsol 0.91%
As for the news of the day, the main protagonist in style is IAG (Iberia). JP Morgan, which once again gives wings to value. We are talking about a buy rating for its shares while its analyst Alexia Dogani substantially raises the target price to 5 euros per share from the previous 3.40. This means giving the value a potential of no less than 57%, for a value that has risen almost 100% since the January lows.
This fact has elevated the Ibex 35 to glory and to lead the Ibex 35 in this session to the value in its sixth consecutive session of advances that exceed 30% in the last month and 10% in the last week. All this while leading the annual gains of the Ibex 35 with accumulated revaluations in the year of 89% and while Bank of America lists it as one of the values for 2025.
Another of the main protagonists is Inditex with profits for the fourth consecutive session, anticipating what the market expects in the publication of its results next week: very good figures in its third fiscal quarter.
Renta 4 have published a report in which they indicate that they expect “Inditex to maintain a growth rate of sales slightly higherthat of 1S 24 favored by the comparative effect“. Specifically, Renta 4 estimates sales totaling 9,546 million euros, which represents an increase of 9% compared to 2023.
The European Central Bank has communicated to Bankinter the minimum capital requirements for the year 2025 and the result of its supervisory evaluation. According to the ECB communication, Bankinter’s risk profile remains unchanged compared to previous years and continues to be located in the group of Spanish and European entities with the lowest capital requirement. The SREP requirement at a consolidated level requires the Bankinter Group to maintain a minimum Common Equity Tier 1 (“CET1”) ratio of 7.81% and a minimum Total Capital ratio of 11.88%.
And Banco Sabadell that wins the battle against Ceberus in the British courts. Specifically, the British justice system considers that the American investment fund, specialized in pension funds, must pay Sabadell 358 million euros for the sale of real estate portfolios.
Furthermore, we have seen more recommendations, with Morgan Stanley, for its part, increasing the target price of ACS to 48 euros from the previous 43 and in the case of Ferrovial raising its PO to 48 from the previous 46 euros.
Already in the rest of Europe, gains with the exception of London in a new session in which the indicators are supported by Wall Street and its positive tone.
Among the sectors, technology, industrial values and cyclical consumption stand out in the selective pan-European indicator, compared to the falls in the health care, utilities and energy.
Regarding stocks, SAP, Schneider El and Mercedes are advancing this Wednesday, with 27 stocks rising and 23 losing positions.
At market close, the EURO STOXX 50 rose 0.83% to 4,919 points, the CAC 40 rose 0.66% to 7,303 points, the Dax gains 0.1.10% to 20,255 points, and the session in London ends for el FT 100 with cuts of 0.27% to 8,337 points.
And on Wall Street, widespread gains in the indicators in search of new intraday records, since in the middle of the session the advances take shape on a day in which we have known the ADP private employment reporta prelude to the general report on the American labor market that we will release on Friday and which has performed below expectations. In November it reached 146,000 hires, slightly below the 150,000 expected. There has also been a downward revision of the October figure, to 184,0000 from the expected 233,000.
Regarding values, Salesforce is pulling the market, with gains of 9% at mid-session, after exceeding expectations in its results corresponding to the third quarter of its fiscal year 2025, ended on October 31, 2024. The company has highlighted an increase in 8% year-on-year in its revenues, reaching 9,440 million, of which 8,880 million come from subscription and support income, a segment that also grew 9% year-on-year. Regarding operating cash flow, an increase of 29% year-on-year was recorded, reaching 1,980 million.
Marvell Tech has also issued optimistic forecasts for the current quarter. The company expects fourth-quarter revenue of $1.8 billion, compared to the $1.65 billion Wall Street estimated, according to LSEG. Third-quarter adjusted earnings and revenue also beat expectations. Its profits, after setting year-on-year highs of $117 per share, are 21%.
Also today with a mournful event. Unitedhealth has canceled its investor day after learning that the executive director of its insurance unit, its CEO, Brian Thompson, was fatally shot in Manhattan by an individual wearing a mask, who, at this time, is still being sought by New York police. .
At the close of the Spanish stock market, the DOW JONES Ind Average gained 0.45% and stood at 44,922 points, with an S&P 500 rising 0.40% to 6,074 points and a Nasdaq OMX advancing 0. 94% up to 19,663 points.
In fixed income, they fall asset returns with the 10-year Spanish bond trading at 2.753% and cuts 0.36% and the German bund rises 0.05% to 2.0580%. The risk premium fell 0.36% to 69.45 basis points.
Oil continues to fall with the European Brent to 73.23 dollars for barrel futures and a drop of half a point and The American West Texas fell 0.57% to $69.53. As for the Euro Dollar, it rises 0.17% to 1.0528 units with Bitcoin that falls 0.48% to 95,216 dollars.