Maximum expectation before the Fed meeting. An encounter, the most crucial of the year to say of experts, especially for the moment in which it will occur, lake that discounts the market, the first reduction of year types in the US. All of Europe, with an almost full in the Ibex 35 of cuts, Today presents descents in this previous session, although tomorrow will also be, because Jerome Powell’s statements, which investors really expect, will not quote in Europe until Thursday.
And it is that the key to return the maximums in the Spanish Stock Exchange passes through the bias that the president of the Fed implements. If new falls are implemented in their speech, with inflation control and only soft landing signs in the United States, markets may continue to live on purchases. And quite the opposite with a different panorama.
Hence, and the collection of benefits for a market that according to the survey of Bank of America European fund managers, is overcapted for 6 out of 10 of them, is palpated today in the environment.
Generalized falls, which affect almost all the Ibex with five values that are little saved with profits, while banks and large values discount today downward positions.
The IBEX 35 closes the session with 1.51% drops to 15,163.30 points, the largest in Europe, which lead values such as Unicaja 2.81%, Cellnex 2.69% and Merlin Properties 2.63% and the increases experienced by Fig to 1%, Repsol 0.68% and AENA 0.45%.
Between the news of the session, the falls of Sabadell and El Varapalo in the return of Deutsche Bank to the coverage of the value. The German bank has resumed coverage on Banco Sabadell with a Recommendation to maintain and an objective price of 3.3 euros per share, which leaves it without a medium term journey If we take into account yesterday’s closure, which stood at 3.35 euros.
From the German firm they cite the solid messages of the Spanish bank on capital distribution and an improvement in the medium -term perspectives, while facing the BBVA hostile OPA. And they emphasize that, despite the strong correlation with BBVA’s actions since the offer was launched 16 months ago, the broker says which seems that the 10% negative gap with respect to BBVA’s offer is justified.
«We believe that for the BBVA offer to succeed, it would have to increase the offer price, Especially taking into account that the extraordinary dividend of 2.5 billion euros of the sale of TSB could increase the attraction of maintaining Sabadell’s shares for some time, «says Deustche Bank.
In addition from rent 4 emphasize that «The risk of a correction of Sabadell’s contribution in case of improving the offer is high, and that this fall could be higher than the potential benefit of an improvement of the price, which as we have commented we estimate can be between 10%-15%. «
Meanwhile, today, S&P Global Ratings has made the decision to raise the notes as BBVA and Caixabank’s long -term emitters to ‘A+’ as a result of the recent rise in Spain’s sovereign rating to that same note. And indicate from the credit qualification agency that Spain no longer limits the ratings of BBVA and CaixaBank.
For its part, Citigroup has taken a radical turn to its vision of acting the US entity has reduced its recommendation from Neutral to selling, while cutting its target price from 141 to 135 euros per share. With the action moving today around 164 euros, the Investment Bank considers that it not only has no rising potential, but could suffer additional falls in the coming months.
Meanwhile, in him Continuous marketIt is news day, because Bestinver raises the potential of the value by 40%. It raises its recommendation from the previous one to keep to buy, with an increase in the objective price of its shares to 35 euros per share from the 26 precedents. That assumes that, in the face of yesterday, the titles of the day supermarket chain have a 40%bullish tour.
Already for the rest of European squares, more of the same as in the Spanish case, the Euro Stoxx 50 lowers 1.28% to 5,370 points, CAC 40 has closed with 1.01% drops to 7,180 points, the Dax loses a 1.70% up to 23,331 points and the FT 100 from Londonwith cuts of 0.93% to 9,190 points.
Meanwhile, collecting benefits in Wall Street that also waits for the Fed, after the maximums of the S&P 500 and Nasdaq on account yesterday by both Alphabet-A, and Tesla. Also today rises again Oracle, when filtering that will be, at least, a key piece in the reconfiguration of Tiktok in the United States.
In addition, the proposal launched yesterday from its social network by the president of the United States, Donald Trump for companies to present their results only twice a year and not four, quarterly as to date, seems to have found a good reception in the SEC, which will prioritize the idea to eliminate what qualifies as ‘regulatory loads for companies’.
At the close of the Spanish market, the Dow Jones Index average drops 0.37% and is placed in the 45,711 points, with an S&P 500 that cuts 0.18% to 6,603 points and a Nasdaq OMX that drops 0.12% to 22,322 points.
Already in the fixed income, the profitability of the assets, With 0.15% increases the Spanish bonus to 10 years to 3,254% while, the German BUND places its performance at 2,6959% and earns 0.03%. The risk premium rises 0.96% to 55.82 basic points.
In oil, important increases for the price of the future of the barrel Brent that quotes at $ 68.37, with increases of 1.38 %% and for the West Texas, which advances in price 1.77% to $ 64.42. Gold futures lose positions, a 0.06, up to $ 3,717, after marking new intradic maximums in the session.
The euro dollar moves at five -year maximum levels at 1,1838 units, and increases for the single currency against the dollar of 0.65%.