Spanish equities surprise positively in this second trading session of the week with its best levels for no less than a month and a progression that was almost unknown to us, in fact it was, since the October highs.
Above 11,800 pointsthe selective, after yesterday’s scare in France, has maintained a positive trend throughout the session supported above all by the push of the banks and again by Inditex, for the second consecutive session. A recovery that, however, is led by the concessionaires and Grifols A once again rebounds without a defined trend after the abandonment of the Brookfield takeover bid.
At the close of Tuesday, the IBEX 35 advanced 1.18% to 11,873.60 points, supported by the gains of ACS 5.43%, Ferrovial 2.62% and Inditex 2.20% and against the falls they experienced Acciona Renewable Energies 2.46%, Laboratorios Rovi 1.87% and Acciona 1.17%.
Among the news of the sessions, an ACS confirming that a Cimic subsidiary, Leighton Asia, has purchased Maverick United Consulting Engineers, based in Malaysia, an engineering consultancy specialized in digital infrastructures.
While Grifols A, despite its advances today, sees how JP Morgan has cut the target price of its shares to 9.5 euros per share compared to the previous 14, while leaving its neutral rating unchanged.
In addition, the Bloomberg agency publishes that Kenneth M Garschina, co-founder of the hedge fund Mason Capital Management LLC, is orchestrating a campaign to renew the board of directors of the pharmaceutical company, specifically by removing Tomás Dagá, a veteran director and friend of the founding family. .
Banco Sabadell analysts also comment on Solaria, a stock that has led the losses for much of the day. Downgrades its recommendation to underweight two notches from overweight.
In the financial sector, the focus remains on the Hostile Takeover bid launched by BBVA for Banco Sabadell. According to the newspaper Expansionmore than 15 entities have publicly announced their appearance in the file opened by the Competition Authority (CNMC) on the operation, including the Barcelona Chamber of Commerce and the General Council of Chambers of Catalonia.
Regarding analyst recommendations, Barclays cuts Gestamp to ‘equal weight’ from ‘overweight’, also cutting its target price to 3 euros per share, compared to the previous 3.5 euros. UBS cuts its advice to ‘sell’ from ‘neutral, also bringing the target price to 2 euros per share, from the previous 2.8 euros.
Already in the rest of Europe, generalized advances but to a lesser extent than in the Spanish stock market. With energy, basic materials and technology pulling the market and only with non-cyclical consumption losing positions.
Among the values to take into account we find GSK, Unicredit and AstraZeneca in the face of the cuts that mark values on this Tuesday as Mercedes Benz, the British British American Tobacco and the French luxury company Essilor Luxotica.
In this way, at the close of the market the EURO STOXX 50 rose 0.64% to 4,877 points, the CAC 40 closed with advances of 0.26% to 7,255 points, the Daxwith gains of 0.67% to 20,041 points and the London FT 100with increases of 0.56% to 8,359 points.
Already on Wall Street, few negative movements for Dow Jones and the S&P 500 and advances for Nasdaq this Tuesday, awaiting tomorrow’s ADP private employment data and the full report from the Department of Labor, on the employment evolution of November on Friday.
In the business field, today US Steel shares cut positions in the middle of the session after the president-elect of the United States, Donald Trump, has committed to blocking the purchase of the company by Nippon Steelan operation valued at about 15,000 million dollars.
Tesla falls 1.5% after a Delaware court denied reinstatement of CEO Elon Musk’s $56 billion pay package, upholding the previous ruling. Additionally, sales of the company’s Chinese-made electric vehicles fell 4.3% year-on-year to 78,856 in November, according to data from the China Passenger Car Association.
Zscaler presents cuts of more than 6% after presenting to the market forecasts for the second fiscal quarter that have disappointed. The cloud security company expects adjusted earnings to range from 68 cents to 69 cents per share.
AT&T, however, advances above 4% mid-session, after announcing that it forecasts free cash flow of more than $18 billion in 2027. The telecom has presented its three-year vision, which includes plans to double its availability of fiber Internet and improve your 5G network.
Investors will also have to keep an eye on Microsoft’s price after learning that the technology giant faces a claim in the United Kingdom of about 1,270 million dollars for overcharging customers of rival companies. The lawsuit alleges that customers using Amazon Web Services (AWS), Google Cloud Platform, or Alibaba Cloud (competitors to Microsoft’s Azure) are forced to pay more to license Windows Server software.
At the end of the day in the Spanish stock market, the DOW JONES Ind Average fell 0.35% to 44,623 points, the S&P 500 lost 0.14% to 6,038 points and the Nasdaq OMX moved with advances of 0. 06% to 19,416 points.
Already in fixed income, asset returns are rising, with gains of 0.11% the 10-year Spanish bond up to 2.769% while, the German bund places its yield at 2.0610% and rises 1.33%. The risk premium drops a significant 3.22% to 70.55 basis points.
Regarding oil, strong increases in barrel futures on both sides of the Atlantic after Bloomberg leaked that OPEC + could delay the increase in crude oil production, which was scheduled to occur in January
Thus the future of the Brent barrel that is trading at 73.38 and advances 2.16% and West Texas rises 2.38% to $69.74. Gold increases its price per ounce against the dollar by 0.27% to $2,665.
Bitcoin, for its part, fell 1.42% to $95,768. And the Euro Dollar is moving upwards with the single currency rising 0.15% to 1.0513 units.