The Spanish stock market takes off above the 11,600 points on which it has managed to consolidate in this fourth trading session of the week in which it closed positively despite the absence of a clear reference from Wall Street, the recovery of the banks, due to its weighting, raises the Spanish selective in which there is a clear winner: IAG that once again shines a day more with its own light after crossing its own psychological barrier that has remained unchanged since the pandemic: 3 euros per share.
On the other side, Grifols A again, heavily punished in the last part of this Thursday’s session, afflicted by the era after the failure of Brookfield’s planned takeover bid to exclude the stock market value. And the shadow of a capital increase is already clearly drawn in the minds of investors.
Thus, at the close of the session, the IBEX 35 gained 0.27% to 11,610.80 points supported by the gains of IAG (Iberia) 2.35%, ArcelorMittal 2.12% and Cellnex 1.53% and the falls of Grifols A 11.44%, Acciona Energías Renovables 0.49% and Puig Brands B 0.48%.
As we say, the main protagonist of the session is an IAG (Iberia) that rises nothing less than marks a bullish destiny of free rise, according to the experts with advances of 5% in a week and 20% in a month, with new annual highs for the value, which is already recovering, since the January lows, more than 90% in its price.
Today again supported by JPMorgan analysts. The American firm has reiterated its ‘overweight’ recommendation for IAG, with a target price of 3.40 euros. Taking into account yesterday’s close, this valuation represents an upside potential of 11.18%.
Investors could easily overlook British Airways’ reinvestment cycle, but ultimately it boosts the profitability of the entire airline holding company, after its investor day held in London, according to the firm’s analyst Harry Gowers.
And on the other side, we find ourselves again with a collapsed Grifols A that loses more than 20% in two days, after Brookfield refused to launch an exclusion takeover bid. And now there are several problems that the Grifols family and the board of directors of the blood products company are facing.
From Bankinter they indicate that it is “negative news, but expected after the company’s rejection of the non-binding price that Brookfield announced a week ago,” according to its analyst. Pedro Echeguere. “We have been of the opinion for some time that there will not be a takeover bid for Grifols and that, if our expectations are met, the shares could fall to the lows of the month of March (Series A: 8.41 euros/share).”
The bottom line of all this is the refinancing of its debt by 2025: approximately 500 million euros in February of an issue of secured bonds and 1 billion in November of a working capital line of credit, which the company’s leadership must now negotiate alone. If not, because later the next maturities would reach 2027, There would be a capital increase that would dilute the current market value of its shares.
Telefónica is also news, for which today the Government has given the green light to STC, the Saudi company to finally acquire what it was contemplating, 9.9% of the capital of the telecommunications operator.
Until now, the Saudi operator currently controls 4.9% of the shares, but from the moment of its initial investment in September 2023 it had shown its intention to reach 9.9%. The State is currently the main shareholder of Telefónicasince it controls 10% of the telecom company through the State Society of Industrial Participations (SEPI), while La Caixa since last July controls 9.9%, the same participation that STC will have.
And the banks, which today have become the flagship of the Ibex 35 with the recovery especially of BBVA and as a result of the Hostile Takeover, Banco Sabadell, after the ‘wonderful conversation’ about the potential imposition of tariffs by the president of Mexico Claudia Sheinbaum and the US elect, Donald Trump.
“She has agreed to stop migration through Mexico and into the US, effectively closing our southern border,” Trump wrote on his social network. “We also talked about what can be done to stop the massive flow of drugs into the US, and also American consumption of these drugs.” All on account of the threat of the future tenant of the White House to impose a 25% tariffsa its neighbor to the south as soon as it takes possession.
Already in Europe, Also generalized positive session in which industrial, technology and financial values are the ones that rise the most with non-cyclical consumption, basic materials and energy in negative.
Among the values, second session led by Airbus, accompanied by the Dutch ASML and the French Vinci against the falls of lto British BAT, the French L’Oreal and Essilor Luxottica.
In this way, at the close of the market, the EURO STOXX 50 gained 0.54% to 4,969 points, the CAC 40 appreciated 0.89% to 7,562 points, the Dax adds 0.44% to 19,533 points, and the session in London ends for el FT 100 with gains of 0.49% to 8,289 points.
Wall Street now remains closed for the thanksgiving holidaya closure that may be noticeable in trading levels. Yesterday, the main Wall Street indices ended up closing negative, with investors taking the opportunity to take profits after the recent highs of the DOW JONES and the S&P 500 before going on a holiday.
The DOW JONES, which surpassed the 45,000 point barrier for the first time in history, finally closed with a decrease of 0.31%, while the S&P 500 fell 0.38% and the NASDAQ fell 0. .60%.
In fixed income, The 10-year Spanish bond drops its profitability from 1.79% to 2.847% while, the German bund is placed at 2.1330% with falls of 1.57%. The risk premium rose 3.06% to 71.35 basis points.
Oil maintains opening levels, while European Brent futures, with a barrel costing $742.28 at the end of the session on the Spanish stock market while falling 0.03%, and The American West Texas is trading at $68.61 and loses 0.13%. And Gold, whose future is trading lower, remains up 0.03% to $2,663 per ounce.
The Euro Dollar is now changing at 1.0549 units while falling 0.14%. Bitcoin cuts 0.45% while moving at $95,222.