The Spanish stock market lost positions at the close of this Monday, but by no means, especially looking at the rest of the main European markets, has it been a negative session. At the moment it remains close to maximums, clearly above 17,650 points and, in addition, it presents the best performance of the stock markets of the Old Continent, by far, so far in the session, and without the reference of Wall Street, which today remains closed due to the celebration of Martin Luther King Day.
Although Spanish companies are no strangers to the conflict that arises with the word tariffs that last weekend Trump put on the table for all the countries that have sent troops to Greenland, the largest island in the world that the White House says ‘needs’ to defend itself from China and Russia, now under the umbrella of Denmark, The fact that Spain is not among them has changed the bias of our stock market, which is less punished at closing.
After a clearly bearish start and despite the enormous volatility that continues to affect the intraday value of securitiesSpanish equities are saved from burning with slight declines far from the general debacle of the rest, in this fateful session for a Europe that may revive the fears unleashed last April.
Waiting for what happens, with a long-awaited interview in Davos between Trump and Von der Leyen this week, The truth is that the threat is on the table for Germany, Finland, France, Norway, the Netherlands, the United Kingdom and Sweden, in addition to Denmark itself. We are talking about 10% tariffs that will come into force on February 1 if they oppose US control of the island and that would rise to 25% in June.
The idea is that the EU, if an agreement is not reached, responds with measures of up toto 93,000 million euros or implement instruments such as blocking US access to all community companies.
In this way, the IBEX 35 closes Monday’s session with falls of 0.27% to 17,663.60 points with cuts in companies such as Puig 3.90%, Grifols A 2.71% and Indra 2.15% and increases for values such as Bankinter 0.88%, Mapfre 0.75% and Repsol 0.25%.
Today marks one year since Ángel Escribano assumed the presidency of Indra. In the last 12 months, the company has tripled (+222.53%) its stock market value and has exceeded 10 billion euros in capitalization for the first time in a context in which the new global context has boosted European values in the defense sector. But the truth is that today it has been one of the most volatile values. It went from being the one that rose the most to closing on Monday among the biggest falls of the session.
It has also been a year since Marc Murtra assumed the presidency of Telefónica, although in this case the evolution on the stock market has not been so positive: the shares have fallen 13.5% in the last 12 months, still affected by the poor reception of the new strategic plan announced in November, especially with regard to the dividend cut. Today the telecom company is also in the news after The Confidential has published that Telefónica has hired Morgan Stanley to reactivate the acquisition of Vodafone Spain.
In analyst recommendations, Deutsche Bank revises the valuations of several stocks in the energy sector: it raises the target price of Iberdrola to 18 euros, from the previous 14.50 euros; Enagás lowers that to 12 euros, from the previous 12.80 euros, with an advice to sell; and that of Redeia (REE) drops to 13.80 euros, from 14 euros previously;
Iberdrola also receives a boost from Morgan Stanley, which raises the target price from 18 to 19 euros per share. This same house improves the target price of Acciona Energías Renovables to 21 euros, from the previous 20 euros.
Meanwhile, Barclays raises the target price of ArcelorMittal to 39 euros, from the previous 28 euros, and that of Acerinox to 14 euros, from 13 euros.
BBVA also sees a double-digit potential thanks to the fact that analyst Marta Sánchez Romero recommends overweighting the entity with a target price of 23.50 euros per share, because she understands that the value will possibly have up to 30,000 million euros to distribute among investors within a period of three years.
Already in the rest of Europe, significant and widespread falls due to the threat of new tariffs from the United States. The EURO STOXX 50 fell by 1.76% to 5,923 points, the CAC 40 dropped a significant 1.78% to 8,112 points, the Dox 1.28% to 24,961 points, and the session in London ends for el FT 100 with falls of 0.44% to 10,190 points.
And the party on Wall Street puts the macroeconomic agenda on the table, in which the main reference of the week will come on Thursday, when the November reading of the personal consumption price index (PCE), the price variable most followed by the Federal Reserve, will be announced.
The market assumes, for now, that there will be no interest rate cut at its meeting at the end of January. CME Group’s FedWatch Tool sees a probability of just 5% for this cut to occur. In fact, operators do not expect a first movement in the year until June.
Regarding fixed income, cuts in asset yields, with a profitability for the 10-year Spanish bond of 3.22% and falls of 0.09%while the German bund stands at 2.8342% with losses of 0.17%. The risk premium rose 1.25% to 38.76 basis points.
Regarding oil, slight increases for futures on both sides of the Atlantic. Uploads for him 0.09% European Brent up to 64.19 dollars and an American West Texas that gained 0.10% in price to 59.40.
He oro at new highs in the face of general uncertainty. Advances of 1.79% for its futures to $4,677 per ounce.
The Euro Dollar is trading with gains for the single European currency of 0.38% and at the close of the Spanish stock market it is exchanged at 1.1643 units.