The Spanish stock market moves downwards in a context of contained falls in all European markets and on Wall Street, where except for the Dow Jones, the rest of the indicators, especially the Nasdaq, show general declines.
In this way, and at the close of the session cuts for the IBEX 35 BANKS that closes this Monday with falls of 0.28% to 11,688.20 points with the cuts of Laboratorios Rovi 7.56%, Solaria 4.13% and IAG (Iberia) 3.64% and the increases experienced by BBVA 3.11%, Banco Sabadell 2.13% and Repsol 1.75%.
In the Spanish case, with the unwanted prominence of IAG (Iberia), which marks its biggest decline since last October 1 and places the value in negative so far this year after its triple-digit increase, as Top 1 on the Ibex, in 2024.
In fact, the factor that has led it to be the worst value of the day for much of the session lies in the rise in the price of oil, with Brent that has exceeded $81 per barrel intraday due to the new sanctions. to Russia by the US
This fact makes fuel, kerosene for airplanes, Therefore, all values in Europe have been lower today.
But in the case of IAG there is an added factor: its vertical rise with hardly any cuts even in the most bearish days of the Ibex 35, therefore, this moment has been taken advantage of by investors to take profits.
Also amount cuts in Laboratorios Rovi affected by the failure in sales of its partner Moderna due to the Covid vaccines. The Cambridge Company loses 21% at the close of the Spanish stock market in its worst interannual session, given its sales figures for the Covid vaccine that have disappointed the market.
In fact, it has reduced its sales growth estimate for the current year by $1 billion. Your collaboration agreementn signed in 2022, which extends for the next decade impacts the price of Spanish pharmaceuticals.
Meanwhile, among the best values of the day we find the two banks that are facing each other in the hostile takeover bid: BBVA and Banco Sabadell, which continue to have a good short-term technical profile and benefit from investor purchases.
Also of the recommendations, Bank of America has set a target price of 13 euros per share for BBVA, which represents an upside potential of almost 30% compared to the current price of 10.15 euros per title. Consequently, they have raised their recommendation on the bank to ‘comprar’.
Today, the president of BBVA, Carlos Torres, has assured in an interview published on the bank’s website that the hostile takeover launched against Banco Sabadell “is good for everyone: for the clients, for the shareholders, for the employees of both entities and for society in general.»
Continuing with the recommendations, Morgan Stanley snips into energy; potential of Enagas, Iberdrola and Acciona Energías Renovables. At Iberdrola, the firm leaves its valuation at 15 euros per sharecompared to the previous 15.50 euros. Despite this cut, the new valuation represents a upside potential of 13.80% compared to last Friday’s closing.
For its part, Berenberg raises to 14 euros from the previous 12.30 its target price on the value and leaves the recommendation to hold on Iberdrola shares
Morgan Stanley has cut the target price of the Acciona subsidiary to 23 euros per sharecompared to the previous 24 euros. Despite the cut, the new valuation represents a upside potential of 28% compared to Friday’s closing.
Also cut in Enagás’ target price: Morgan Stanley leaves it at 12 euros per sharecompared to the previous 13 euros. The new valuation represents a 3% upside potential compared to the last closing for a value that rose 0.60% this morning to 11.72 euros.
Already for Inditex, RBC recommends underweighting its shares in the market while Its target price places it at 50 euros per share, Therefore, the Galician textile giant hardly has room for improvement from its current trading levels.
For its part, Aena is losing positions today despite the fact that Aena’s airports exceeded 369.4 million passengers in 2024, 8.5% more and 9.5% more only with those that the airport manager operates in Spain. .
Already in the rest of Europewidespread but also moderate cuts as in the Spanish case, with the rise in the EURO STOXX 50 marked by sectors such as energy, basic materials and only cyclical consumption, compared to cuts in health care, technological values and industrial.
Values such as ING, Glencore y BP, in the face of cuts Novo Nordisk, Diageo y ASML Holding.
At the market close, the EURO STOXX 50 lost 0.50% to 4,952 points, the CAC 40 fell 0.30% to 7,408 points, the Dax gives up 0.43% to 20,135 points, and the session in London ends for el FT 100 with losses of 0.31% to 8,233 points.
Already on Wall Street, a mixed tone with advances for the Dow Jones, cuts in the S&P 500 and significant falls for the Nasdaq.
All this while investors remain concerned about the possibility that rates will stop their cuts after the strength shown by the labor market and the expectations of a rise in inflation, in this week in which the presentation of results officially begins. of the banks.
Today, as we have said, the main protagonist of the day is Moderna, with drops of 21%. Cambridge drugmaker now expects 2025 revenue are between 1,500 and 2,500 million dollarsmost of which will occur in the second half of the year. They will come, above all, from Moderna’s covid vaccine and the recently launched vaccine for respiratory syncytial virus.
The forecast is lower by 1,000 million to the range of between 2,500 and 3,500 million of the previous forecast, made in September.
At the close of the Spanish stock market, the DOW JONES Ind Average rose 0.38% and stood at 42,096 points, with an S&P 500 that fell 0.58% to 4,955 points and a Nasdaq OMX that fell a significant 1.34% to 18,900 points.
And the bonds are tightened again, with returns that in the case of the Spanish 10-year advance by 1.01% to 3.299% while the German 10-year bund gained 0.68% to 2.5855%. The Spanish risk premium ends Monday at 71.45 basis points with increases of more than 3%.
Strong rebound in oil, which today has complicated the market, although not for oil companies like Repsol, with Brent advancing 1.89% to $81.22, while, the West Texas gains 2.15% in price to 77.38 euros.
Gold Futures remain with strong falls of 1% with a price of 2,682.11 dollars per ounce.
The Euro Dollar ends the day at 1.0197 units, increasingly closer to parity, with cuts for the single currency of 0.40% against the American greenback.
And Bitcoin falls sharply again, 3.5% this Monday, placing its price per asset at $91,716.