Spanish variable income premonizes a month of December in which curves come with this first session of the month marked by investors’ gaze at a France in which, due to its budgets for 2025, its government may fall with a motion of censure included. Risk premiums and their effect on the financial system, on the banks, have been the most talked about by the markets this session. However, in the final stretch of the day, it improves until it even recovers 11,700 points and the entities with a mixed closing.
In this way at the close of Monday, the IBEX 35 gained 0.81% to 11,735 points, with the advances of Inditex 2.87%, Unicaja 2.46% and Endesa 2.41% and the cuts of companies such as Grifols At 2.86%, Inmobiliaria Colonial 2.75% and MERLIN Properties 1.83%.
French flavor, looking at the National Assembly on which the interest of investors has revolved. And the possibility of the fall of Michael Barnier’s government has had different stages throughout the session, which has led the selective to place on the verge of 11,800 points and also clearly below 11,600.
This volatility has marked the future of some banks afflicted by that rise of almost 9 points in the French risk premiumgiven the high holding of eurozone bonds by entities. This fact has meant that only Unicaja, backed by the fact that it paid its first stock dividend in December, as announced by its Board of Directors on Friday at the close of the market, has escaped this punishment.
Also Inditex for two factors: the recommendations and their rebound after the falls of the previous days. Deutsche Bank raises it from sell to hold with a target price that advances very significantly, to 54 euros per share from the previous 41 its target price.
Its analyst, Adam Cochrane, highlights that stocks of luxury goods manufacturers have underperformed retail and sporting goods stocks, what should change in the second half of 2025. And he notes that the weakness in Chinese consumption may be more cyclical than structural, and consumer confidence is likely to improve thanks to economic stimulus measures. Potential US tariffs are also less relevant for luxury goods manufacturers than for sporting goods retailers and producers.
More recommendations today with Endesa from RBC and Santander. Regarding the first, its analyst Fernando García, in an analysis of European utilities, considers an improvement in the recommendation of the value that raises one step to overweight from neutral and with a target price that rises to 24 euros per share from the previous 20 for value, with improvement of 18% potential about last Friday’s value close.
With the second, he also puts on the table the advice of overweighting the value at this time, with a potential of 25.36% up to its target price of 26 euros per share.
Puig is also in the spotlight, in this case from Renta 4 analysts. They consider that the company has an “enviable competitive position”, beginning their coverage with an ‘overweight’ advice and a target price of 25.2 euros per share. This valuation represents an upside potential of 27%.
In the rest of Europethey ignore the governance problems in France, including Paris, which ends at opening levels, and concentrate on a clearly positive Nasdaq and the generally good tone of Wall Street after Black Friday.
The main protagonist is Stellantis, which has lost more intraday than the departure of its CEO Carlos Tavares, with his resignation yesterday Sunday and the problems in management and with the profit warnings so far this year. An exercise that, if nothing changes, will clearly be black for the value that fell above 6.5% at the close.
Already in the Euro Stoxx, Cyclical consumption wins today by a landslide, with advances of 2.8% and supported by Hermes y LVMH as values, with increases of 3% most prominent. Also gains for technology and basic materials. Only energy and barely utilities appear as punished sectors in this session.
In this way, at the close of the market, the EURO STOXX 50 gained 0.86% to 4,845 points, the CAC 40 appreciated 0.02% to 7,236 points, the Dax adds 1.64% to 19,951 points, and the session in London ends for el FT 100 with gains of 0.29% to 8,311 points.
On Wall Street, a mixed session with cuts in the Dow Jones and gains for the S&P 500 and to a greater extent for the innovation of the S&P 500.
Regarding notable values, Intel has also announced that its CEO Pat Gelsinger has retiredresigning from his position at the head of the company already assumed on the board. Gelsinger had joined the company in 2021 from VMware, but during his tenure the stock has lagged other chipmakers. So far this year, Intel stock is down more than 50%, while the S&P 500 is up 26%.
Regarding analyst recommendations, Stifel reiterates its recommendation of buy for Tesla and raises the price target from $287 to $411, which is equivalent to an upward potential of 19% for a value that is already up 39% so far this year. “While we are confident in Tesla’s automotive business, the significant value creation potential of its AI-based full self-driving capabilities and Cybercab (Robotaxi) support our positive outlook.”
Also from Wedbush, one of the references in technology firm, which this Monday placed Tesla as the best positioned value to rise in terms of Artificial Intelligence.
At the close of the Spanish stock market, the DOW JONES Ind Average fell 0.30% and stood at 44,775 points, with an S&P 500 that advanced 0.16% to 6,041 points and a Nasdaq OMX rose 0.89 % up to 19,386 points.
Bonuses are going down at this time, with returns that in the case of the 10-year Spanish one cut by 1%, up to 2.768% while the German 10-year bund lost 2.5% to 2.0350%. The Spanish risk premium rises sharply, 4.5% to 73.15 basis points, 14 more than the French one.
In raw materials, the future of the barrel of crude oil revalues, for a European Brent that advances 0.38% to $72.09while the American West Texas rises almost half a point to $68.30. Gold Futures, for their part, fell 0.65% to $2,663 per ounce.
The Euro Dollar ends the day at 1.0476 units, with cuts for the single currency of almost 1% against the American greenback.
And Bitcoin is shown at opening levels of $97,114 at the close of the session, with barely 0.1% advances.