Spanish equities move with gains at the beginning of November although sifting the first-hour gains that brought it closer to the all-time high zone again. Advances that occur with the great rise of Indra after the sharp falls on Friday, with the market’s conviction that the value has great potential in the market.
In this way the Spanish selective It settles at 16,000 points at the beginning of what is historically considered the best trading period of the year. Experts affirm that there can be additional improvement to this great stock market year in the remainder of the year, but without the force that has moved the market until now.
Thus, the IBEX 35 closes the day with gains of 0.03% to 16,037 points. The rise in values such as Indra 5.4%, ACS 3.02% and Mapfre 2.87% and the falls experienced by companies such as Laboratorios Rovi 2.62%, Telefónica 2.17% and Fluidra 1.91%.
Among the protagonists of the day, Indra, the largest this year on the market, which after collecting profits last Friday is rising strongly in this session, after the hangover from the presentation of IndraMind.
All this in a week full of results and something more. Presentation of accounts in the case of Telefónica, and, above all, of its new strategic plan, the first since Marc Murtra took over the reins of the company. Rumors about this plan have filled pages of the economic press in recent months, so the company will have to clear up doubts regarding dividend policypossible acquisitions or a capital increase, among other topics. Today, for that reason, it continues to lose positions on the Ibex 35. Today again the value has been penalized in the market.
Grifols (November 4, at market close), ArcelorMittal, Logista Integral, Laboratorios Rovi, Sacyr (November 6), Amadeus, Cellnex and IAG (Iberia) (November 7) will also present their accounts.
In terms of recommendations, Morgan Stanley lowers Solaria’s recommendation from ‘equal weight’ to ‘underweight’, although it raises the target price from 10 to 13 euros per share. Despite the improvement, the valuation is 13.3% below last Friday’s close.
Oddo BHF sees double-digit potential in Caixabank, which will also pay a dividend this Friday. The firm maintains its ‘overweight’ recommendation and raises the target price from 9.70 to 10.20 euros per share. This assessment represents a upside potential of 11.35% compared to yesterday’s close. At Unicaja, on the contrary, the firm does not expect more increases.
BBVA has launched a contingently convertible bond issue (‘CoCo’) with an annual interest of 6.125%, part of its financing plan for 2025.
In the Continuous Market, Squirrel Media has reached an agreement to acquire 75% of Ranna Consultoría, an image and communication agency focused on the management of institutional strategies and campaigns for public administrations.
Meanwhile, Elecnor has presented accounts that have obtained a net profit of 80.8 million euros in the first nine months of the current year. This figure represents a notable increase compared to the 36.6 million euros of profits recorded in the same period of the previous year, more than double.
Already in the rest of Europe, the EURO STOXX 50 rose 0.32% to 5,679 points, the CAC 40 lost 0.14% to 8,109 points, the Dax earns 0.75% to 24,139 points, and the session in London ends for el FT 100 with falls of 0.22% to 9,696 points.
And on Wall Street, a mixed sign for the indicators, in which AI rules, one more day: OpenAI has signed a $38 billion deal withAmazon Web Services and will immediately begin accessing NVIDIA graphics processing units. This is one of OpenAI’s biggest moves away from Microsoft, which was its exclusive cloud services provider until earlier this year. This partnership gives OpenAI the flexibility to expand its infrastructure through 2026 and beyond.
All this on the day that Kimberly-Clark announced the acquisition of the Tylenol manufacturer, Kenvue, in an operation valued at approximately $48.7 billion. Kimberly-Clark will purchase all of Kenvue’s outstanding common shares in a mixed cash and stock transaction: Kenvue shareholders will receive $3.50 per share and 0.15 Kimberly-Clark shares for each Kenvue share they own. Kenvue shares soar 19% on Wall Street.
At the close of the Spanish stock market, the indicators show gains, the DOW JONES drops 0.44% to 47,345 points, the S&P 500 advances 0.03% and stands at 6,842 points and the Nasdaq appreciates 0.38% to 23,816 points.
Already in fixed income, an upward trend at the close for asset returns, with increases of 0.60% for the 10-year Spanish bond to 3.162% while, the German bund places its yield at 2.6619% and rises 0.91%. The risk premium fell 0.73% to 50.04 basis points.
In oil, increases for Brent is trading at $65.14 and gains of 0.59% and for West Texas, which, in this case, rose 0.61% to $61.32. Meanwhile, Gold Futures advance 0.46% to $4,013 per ounce.
The Euro Dollar with a slight drop for the single currency of 0.10%, while the dollar loses traction to 1.1523 in its exchange with the American greenback. Bitcoin, for its part, saw sharp cuts of almost 4% to $105,884 per asset.