The Spanish stock market closes the day with increases despite the slow day that Europe has experienced on account of the American Black Friday and the hangover of Thanksgiving Day, which will lead Wall Street to close today, with few operations, problems in options and futures in Chicago at 7 pm in Spanish time.
With the weakened influence of the New York Stock Exchange, investors resist the temptation to take profits and keep the index above the 16,300 points, putting the culmination of a clearly positive week and in which profits are close to 3.5%. In the cumulative figure for November, the increase for the Madrid selective is finally 2.11%, placing the balance for the year at 42% waiting for December.
Thus, at the end of the session, the IBEX 35 rose 0.06% to 16,371.60 points, led by the increases in ArcelorMittal (+1.53%) and Repsol (+1.46%). On the negative side, Fluidra has fallen 1.57% and Indra has dropped 1.50%.
Among the macro data, today we learned that inflation in Spain fell for the first time in six months. The interannual rate is 3%, one tenth below the October figure. The fall is caused by the drop in electricity, although our country’s CPI is above the eurozone average. With this figure, it is already known that pensions will be revalued at a rate of 2.7% in 2026, after knowing the November data.
Also retail sales that grew by 3.8% year-on-year in the month of October.
Among the news of the day, Indra shareholders approved this Friday the acquisition of 89.68% of Hispasat from Redeia (REE) for 725 million euros, an operation that will also allow the company to take control of Hisdesat, the military branch of the satellite operator.
The president of Indra, Ángel Escribano, has highlighted that The acquisition of Hispasat will mean «fundamental strategic advances» and has stressed that «great projects require great alliances.»
In addition, Caixabank, which has reduced its share capital by 61 million euros through the amortization of its own shares.
For its part, Ferrovial has set the price of its 400 million euro convertible bonds at 69 euros per share.
Also JPMorgan’s look at Cellnex and Telefónica. For Cellnex, the American firm JP Morgan cuts the target price to 32 euros per sharefrom the previous 43 euros. The recommendation remains ‘neutral‘. Despite this cut, the new valuation represents a 23.3% upside potential compared to yesterday’s closing, Thursday.
Regarding Telefónica, JP Morgan analysts reiterate their recommendation of ‘neutral‘ for the value, and they cut the target price from 4.10 euros to 3,90 euros per share. In this case, the upside potential is a modest 3.17% compared to yesterday’s closing, Thursday.
While, Bankinter reiterates its recommendation of ‘comprar‘ Logistician and raises the target price to 32.10 euros per share, from the previous 30.10 euros. It supposes a upside potential of 9.20% compared to the current price.
Regarding ACS, the technical aspect remains clearly favorable after the crossing of the desert that experienced sharp drops in value last Friday, given the doubts regarding the data center market, where its American subsidiary Turner has a high level of business and positioning in the US.
Already in the Continuous Market, cuts for OHLA after its turnover decreased in the first nine months of 2025, driven by a significant drop in income from the industrial division. Renta4 analysts point out that the drop in income in the industrial division is related to the entry into production of contracts, which weighs on the group’s overall results. The company reduces its losses in the first nine months of the year by 21.8% to 45.6 million euros.
Construction margins improve to 6.3% from 4.2% a year ago, but show a slowdown compared to the strong first half of 2025.
Already in the rest of Europe, the EURO STOXX 50 gains 0.35% to 5,673 points, the CAC 40 rises 0.29% to 8,122 points, the Dax advances 0.34% to 23,859 points, the FTSE MIB revalued 0.32% to 43,357 points. and the session in London closes with increases for el FT 100 of 0.28% the 9,720 points.
Already on Wall Street, little business was also minimized due to the suspension of the Chicago options and futures market, which has had problems, in this short Wall Friday session and after Thanksgiving. Even so, the Dow Jones struggles to close the month of November positively.
Yesterday the market was closed for Thanksgiving, while last Wednesday’s day was positive for Wall Street: the DOW JONES rose 0.67%, compared to the 0.69% that the S&P 500 gained and the 0.82% that the technological Nasdaq rose. Wall Street has added four consecutive positive sessions in the heat of expectations that the Fed will lower interest rates at its next meeting on December 9 and 10.
In just one week, operators They have shot up the probability of a 25 percentage point rate cut in this meeting from 30% to 85%. In just one week, operators have raised the probability of a 25 percentage point rate cut at this meeting from 30% to 85%.
While Google (Alphabet-A) has withdrawn its antitrust complaint to the EU over rival Microsoft’s cloud computing practices a week after EU regulators launched an investigation into whether Microsoft should submit to rules aimed at curbing its power in the sector.
Last year, Google took its complaint to the European Commission, alleging that Microsoft’s anti-competitive practices locked customers into Microsoft’s Azure cloud services platform. Amazon leads the cloud computing market with a 30% share, followed by Microsoft with 20% and Google with 13%.
At the close of the Spanish session, the DOW JONES rises 0.59% to 47,709 points, the S&P 500 advances 0.38% and stands at 6,838 points while the Nasdaq OMX rises 0.30% to 23,285 points.
Already in fixed income, cuts in asset returns with the Spanish 10-year bond that places its yield at 3.165% and yields 0.19%, compared to increases of 0.29% for the German bund, up to 2.69%. The Spanish risk premium cuts 3.34% to 47.43 basis points.
For its part, in raw materials there is a mixed trend. Brent barrel futures, the benchmark in Europe, with increases of 0.35% to $63.11, while those of American West Texas lost/gained 1.23% to 59.37 basis points. Gold added 1.26% to $4,210 per ounce.
The Euro Dollar loses positions with the single currency’s decline of 0.02% to 1.1596 units, while Bitcoin moves with gains of 0.58% in the last 24 hours to exceed $91,239 per asset.