Spanish equities say goodbye to the day as the worst European indicatormainly due to a generalized fall in values, from which barely a few are saved, but it does so with a closing below, of the level of 11,600 points, with the worst level and the highest percentage of losses so far in the month of December and while marking seven sessions down from the last eight.
Levels that are due above all, as we will now see in detail, to the cuts made by the sector that has the most weight in the selective, we are talking about the banks, which have been in charge of setting the tone, just as has happened in Italy with its Mib, also dominated by banks.
In this way, the IBEX 35 lost 1.62% at the close of this Tuesday to 11,588.10 points with the falls of values such as Banco Santander 4.53%, Unicaja 3.46% and Indra 2.98% and increases for companies such as Grifols A 0.60%, IAG (Iberia) 0.50% and Naturgy (Gas Natural) 0.44%.
Among the protagonists of the sessionbanks, on the negative side after the ECB has raised its capital requirements for 2025which will be 15.6% next year, one tenth more than the cushion set for 2024. Factors that are based, according to the European Central Bank, on a more negative environment, after worsening macroeconomic prospects and the increasing presence of geopolitical risks. This has been the main factor that has led the banks to lead the cuts in this session in a general way.
In addition, this afternoon Iberdrola announced that it will increase its interim dividend by 14%, based on 2024 results. At a minimum, in its flexible remuneration, it will pay its shareholders 0.23 euros per share in the month of January.
Today we have also learned that the board of directors of Logista will vote at its ordinary general meeting of shareholders, which is expected to be held on February 5, 2025, on first call, the re-election of its non-executive president, Luis Isasi, as director. independent. Likewise, Isasi is the current non-executive president of Santander Spain, an external director of Banco Santander and a member of its executive and remuneration committee.
Indra has been selected by the Argentine Air Navigation Company (EANA) to carry out the update of the air traffic management systems in the country’s five control centers, which cover its entire territory.
Meanwhile, in terms of recommendations, Citi sees in Caixabank an upward trend of almost 30% to 6.08 euros per PO share, indicating its high level of dividend profitability and given the entity’s share repurchases. Its strong presence in the Spanish market supports this new recommendation
And now, for BBVA, it sets a target price of 12 euros per share, which could exceed the 20% possible upward path for the value. In the case of the Basque entity, it is due, according to the American bank, to the possibility that its RoTE, the bank’s financial profitability, reaches 17% in 2026. And it highlights its geographical diversity to trust in it for 2025 .
Furthermore, in this session BME, Spanish Stock Exchanges and Markets took stock of the year, highlighting that shareholder remuneration, as commented by Domingo García Coto, the director of BME’s research service for Investment Strategies, is at historic highs. The manager of the Spanish stock market highlights that Spanish listed companies increased their shareholder remuneration by 25% to 34,655 million euros in the first eleven months of the year. Furthermore, the Ibex 35, which has risen more than 15% this year, is one of the most profitable indices in Europe after five consecutive six-month periods on the rise, as highlighted by BME directors.
Already in the rest of Europewe see widespread falls with the exception of Paris, while cyclical consumption, industrial values and technology gain positions, compared to the falls in energy, the financial sector and basic materials.
Among the values, the advances of la farma Sanofi, ASML and Hermésin the face of the cuts experienced Banco Santander, the oil company Shell and the British spirits company, Diageo.
At the market close, the EURO STOXX 50 lost 0.11% to 4,941 points, the CAC 40 rose 0.12% to 7,365 points, the Dax drops 0.17% to 20,279 points, and the session in London ends for el FT 100 with cuts of 0.82% to 8,194 points.
Already on Wall Street, widespread cuts, with profit taking in the three main indicators, now with a Dow Jones, which if it closes negative, will reach its ninth cut in a row, with its worst performance in the last 46 with the leading values that new look at Bitcoin highs. The shares of the mining company Mara Hldgs rose more than 1.5%, while Microstrategy-A fell 0.9% after the rise of recent days and waiting for it to be included in the Nasdaq 100 next week.
In the pharmaceutical sector, Pfizer rose 3.80% at the opening after presenting profit and income forecasts in line with what analysts had predicted. The company expects adjusted earnings of between $2.80 and $3 per share, compared to an average analyst estimate of $2.88 per share. Regarding revenue, Pfizer predicts a figure between 61,000 and 64,000 million dollars, compared to the market’s estimate of 63,260 million.
Special mention for Broadcom, whose shares have risen 40% in just the last five days after beating market forecasts last week with its quarterly results. Several analysis houses have raised their valuations on the stock, including Goldman Sachs, which has placed the target price at $240 (compared to the previous $190).
At the end of the day in the Spanish stock market, the DOW JONES Ind Average lost 0.51% and stood at 43,482 points, with an S&P 500 that fell 0.36% to 6,052 points and a Nasdaq OMX that cut a 0.4% to 20,096 points.
Already in fixed income, asset returns are falling, with cuts of 0.41% for the 10-year Spanish bond up to 2.913% while, the German bund places its yield at 2.2220% and drops 1%. The risk premium also gained positions, 0.80% to 69.55 basis points.
In oil, falls for Brent is trading at $72.72 and loses 1.65% and for West Texas, which, in this case, cuts 2.38% to $69.02. The cuts are basically due to investor concern about Chinese economic data, which raises concerns about demand, and with some caution also awaiting the decision and comments tomorrow at the end of the Fed meeting.
Meanwhile, Gold Futures lose positions of 0.66% and place their price at $2,652.56 per ounce.
The Euro Dollar shows a slight fall of 0.07% to 1.0501 units. With Bitcoin that is once again close to $107,000, with gains of 0.60%.