Spanish equities are once again manifesting themselves as in recent sessions, with clear volatility, constant changes of sign in the Spanish selective and movements that barely exceed 80 points between the highs and lows of the day for an Ibex 35 that fails to set a new course to maximums in the face of the new barrier that is presented, although it manages to consolidate 11,600 points, with slight advances.
Without the general help in the markets of an NVIDIA that, at the close of the Spanish market, is once again reading negative, after results that have exceeded expectations, but not the great triple-digit famine that falls on the company, given its wide expectations , marks the market, It seems that your accounts, As many on Wall Street expected, They will not be the definitive catalyst that establishes, at least in that way, new highs for the remainder of the year, at least for now.
Despite even being positive, the first negative readings, last night after its publication, have undoubtedly weighed more. Non-triple-digit revenue growth and questions about whether there will be enough Blackwell chips and infrastructure to meet market needs.
Without references to enhance the advances, the IBEX 35 closes this Thursday’s session with increases of 0.19% to 11,611.70 points, with the increases reflected in values such as Acerinox 2.61%, IAG (Iberia) 1 .58% and Puig 1.48% and the falls for companies such as Inmobiliaria Colonial 1.96% Solaria 1.88% and MERLIN Properties 1.65%.
In terms of news, the Government finally achieves majority agreement for its tax reform package. PSOE and Podemos have reached an agreement to launch a bill that includes a tax on companies in the energy sector. All this without knowing the content of that tax, which may be newly created or may present variations on the already established one.
The bill to validate the tax reform was approved shortly after five in the afternoon with 178 votes in favor and 171against and the widespread applause of the Government in Congress. And it contains a 7% tax for banking.
In addition, Telefónica will have more Saudi capital: the Government will say yes to 9.9% in its capital, finally, everything indicates that the Saudi STC (Saudi Telecom Company) will take up to 9.9% from its 4.9% of Telefónica, as one of the largest partners of the telecommunications operator. According to El País, the Government will give its approval for the company to achieve its desired participation in the Spanish company.
All this while BBVA proposes more measures to the CNMC so that the competition authority authorizes its Hostile Takeover Takeover of Banco Sabadell. The offer, through a share exchange, is currently valued at around 10.3 billion euros, compared to more than 12,000 million when it was released.
In statements to Investment Strategies, Antonio Castelo, iBroker analyst, highlights that “these additional measures will most likely significantly affect the profitability of the operation.”
In your opinion the chances that the takeover bid will not be launched are increasing. “In the event that the operation does not go ahead, we believe that the price of BBVA could initially have a reasonable upward path, while Sabadell’s could initially be lower. Although, in the long run, investors should realize the significant discount at which they are trading compared to their target prices.
Already in the rest of Europe, we see general increases due to the minor falls of Nvidia, with energy, financial and industrial positive within the Euro Stoxx and cuts for stocks such as healthcare, utilities and consumer cyclicals.
Among the securities, the big beneficiaries today in the pan-European selective are the insurers, with Zurich Insurance, Allianz y Munich Re with the biggest rises and falls of Novo Nordisk, National Grid and Richemont in negative.
The EURO STOXX 50 closed the day with gains of 0.59% to 4,757 points, advances for the Dax of 0.84% to 19,160 points, with a CAC 40 that adds 0.21% to 7,213 points and the FT 100 which ends on Tuesday with increases of 0.78% to 8,148.
Already on Wall Street, NVIDIA’s swings after the results set the tone due to the better or worse readings of its accounts and, above all, its forecasts set the tone in the American indicators. The falls, slightly greater than 1%, experienced by the first value of the global market at the close of the Spanish stock market, change the bias in Europe to positive and energize a Wall Street with the Dow and the S&P already positive, while the falls of the Nasdaq is cut in half.
Let us remember that NVIDIA recorded a net profit of 19,309 million dollars, a figure that represents a 109% increase in profits from the same quarter of the previous year. Revenue between August and October totaled a record of $35,082 million, 93.6% more than a year before.
However, the company disappointed with its ‘Blackwell’ chip and fourth quarter forecasts, which explains why its shares fell almost 4.5% in the after-hours market.
Among other protagonists of the day, Snowflake Stock Soars More Than 25% After Beating Third-Quarter Earnings Expectations and Issuing Strong Forecasts. The cloud services company posted adjusted earnings of 20 cents per share on $942 million in revenue, while analysts had forecast earnings per share of 15 cents on revenue of $897 million.
Worse reception for Palo Alto Networks, which fell 2.5% at the opening of the session despite presenting forecasts for the second fiscal quarter that largely coincide with market expectations. Palo Alto Networks forecast adjusted earnings of $1.54 to $1.56 per share on revenue of $2.22 billion to $2.25 billion. It’s roughly in line with Wall Street’s forecast of $1.55 per share in earnings and $2.23 billion in revenue. Palo Alto has also announced a 2-for-1 stock split.
Thus, at the close of the Ibex 35, the DOW JONES rose 0.81% to 43,761 points, while the S&P 500 advanced 0.23% to 5,930 points and the Nasdaq OMX lost 0.4% to 18,887 points.
In fixed income, the 10-year Spanish bond placed its profitability down by 0.72% to 3.032%, while the German bund stood at 2.3135% with falls of 1.2%. The risk premium rose 0.91% to 72.25 basis points.
Oil has maintained its advances since the first hour and while European Brent futures, with a barrel costing $74.05 at the end of the session on the Spanish stock market while rising 1.72%, and The American West Texas is trading at $70.02 and gains 1.86%. And Gold, whose future is trading higher, up 0.7% to $2,669 per ounce.
The Euro Dollar is now changing at 1.0478 units while falling 0.62%.
Bitcoin continues to be the king of the market with new highs and increases of 3% until reaching $97,000.