The Spanish stock market recovers this session after closing the last week clearly positive. But despite the gains, extreme volatility is affecting some values, such as Indra, which has experienced cuts of 3% at the beginning of the session to close with much more moderate falls, among the few that have lost positions in this session and which leads the falls this Monday.
The IBEX 35 closes the session with gains of 0.92% to 15,967.80 points, with the increases in values such as ACS 4.56%, Unicaja 3.51% and Ferrovial 3.33% and the falls experienced by Indra 1.29%, Endesa 0.78% and Repsol 0.64%.
Among the protagonists of the day, the banks and the new recommendations from Morgan Stanley. Banco Santander is the entity in which it sees the most upside potential. Specifically, the American firm raises the target price to 11 euros per sharefrom the previous 10 euros. The new valuation represents a upside potential of 24.85%.
The second best is for Banco Sabadell, whose target price was improved from 3.50 euros to 3.65 euros per share. This assessment is 18.12% above from closing last Friday.
And the third for BBVA. Morgan Stanley improves the target price to 20.50 euros per sharefrom the previous 19 euros, with a upside potential of 15.75% compared to Friday’s close.
Furthermore, today Iberdrola shakes up the Brazilian energy board with a takeover bid of 1,030 million euros for the 16.2% of the share capital of Neoenergia that it does not control and which, if successful, would mean control of 100% of its Brazilian subsidiary. The operation, presented today before the Brazilian regulator, seeks to simplify the group’s structure in the country and remove the company from the demanding Novo Mercado segment of the B3 stock exchange.
Good news for the oil company Repsol, which has won a Treasury in court and avoids paying a claim of more than 100 million. Specifically, the National Court has partially estimated an appeal by the energy company for the deductions applied to corporate tax derived from its activity in Algeria and Libya more than a decade ago. Despite this and with the doubts about crude oil, the value is the second most penalized in the market today.
And more about recommendations, Inditex with the improvement of RBC capital. Raises the target price on Inditex shares and also its recommendation on the value. We are talking about a potential of 11.7%, double digit while raising its PO to 52 euros per share from the previous 49.
It also places its rating at overweight from the previous neutral bet. The firm highlights that «Inditex’s solid product offering and its ability to adapt to fashion trends «should generate further local market share (LFL) gains from independent stores, department stores and less active specialists.»
Additionally, Exane BNP Paribas cuts Acciona to «underweight» from «neutral,» saying the Spanish company is priced too high.
Acciona’s outlook for 2025, confirmed in its nine-month update, They depend heavily on non-recurring elementssuch as profits derived from asset rotation, the firm points out.
Of course, he raises the recommendation of Redeia (REE), which has lost around 20% of its value since April, to «overweight» from «neutral», stating that the worst is likely over after being affected by the updates to Spanish regulations.
In the continuous market, the double-digit rise of Aedas Homes stands out once Neinor Homes confirms its priority to complete the acquisition of 80% of AEDAS in the hands of Castlelake during 2025 through the announced voluntary takeover bid, accelerating the roadmap to consolidate control and resume its main mission of developing housing throughout Spain, positioning the company to open the next chapter of the Spanish residential sector.
Already in the rest of Europe, a mixed day, with the EURO STOXX 50 rising 0.27% to 5,530 points, the CAC 40 losing 0.29% to 7,959 points, the Dax advances 0.64% to 23,241 points, and the session in London closes with decreases for el FT 100 of 0.03% the 9,536 points.
Among the best of the day in the Old Continent, Bayer with strong increases that have exceeded 9%, after announcing positive results in the phase III of its clinical trial with Asundexian, its promising oral anticoagulant.
On the other side, Novo Nordisk, with collapse after learning that its drug with GLP-1 components and developed against Alzheimer’s, has not achieved its objective in the trial phase, which was to delay cognitive deterioration for patients who have the disease.
And on Wall Street, widespread increases in the face of the increasingly growing possibility what the market reads of a rate cut at the Fed meeting in December, with members of the Federal Reserve more favorable to a new cut after Powell’s vision and the strong rebound of Alphabet-A close to 5% that marks its best year-on-year levels.
Meanwhile, Chinese shares listed on Wall Street Alibaba rise 4% after announcing that their artificial intelligence application, Qwen, has had ten million downloads in its first week of launch alone.
On a day in which we learned that Trump and Xi Jiping, the presidents of the United States and China, have spoken again.
At the close of the Spanish session, the DOW JONES rises 0.67% to 46,557 points, the S&P 500 advances 1.31% and stands at 6,688 points while the innovative and technological Nasdaq OMX gains 2.14% to 22,745 points.
Already in fixed income, a mixed day for the returns of assets with the Spanish 10-year bond that places its yield at 3.206% and cuts 0.16%, with increases of 0.12% for the German bund, up to 2.7013%. The Spanish risk premium falls 1.73% to 50.41 basis points.
In commodity markets, lBrent crude oil futures gain positions. They rose 0.42% to $62.20 a barrel, while US West Texas oil rose 0.99% to $58.40 a barrel.
Slight recovery for Gold Futures with increases of 0.25% to $4,126 per ounce.
The Euro Dollar rises for the single currency, at 1.1526 units, while Bitcoin advances 0.14% to $86,845 per asset.