Good digestion that investors have done in this first stock market session of the week after the news of the alleged credit crisis in the United States that choked the Spanish banks on Friday and that the market seems to have forgotten. Remoras along with the failure of the BBVA takeover bid for Sabadell and its reflection in the stock market, that today the market has been able to calibrate the market, with a very different tone, with financial entities as the great bastion of the session
Hence the purchases that have been strongly imposed from the first minute of the session, to mark the largest increase in the selective since last August 4 in percentage and to mark new highs above 15,800 pointsless than 1% from its historical highs of 18 years ago.
The IBEX 35 closes on Monday at 15,828.30 points with increases of 1.46% thanks to the advances made by values such as Banco Sabadell 4.65%, BBVA 3.84% and Indra 2.62% and the falls of Aena 1.05%, Cellnex 0.89% and Grifols A 0.72%. Again highs of 18 years.
Among the protagonists of the day, BBVA and also Banco Sabadell, the two values that appreciate the most, because investors see that their separate operation will provide, at the door of the presentation of results, greater creation to their shareholders. At Investment Strategies we have prepared the technical overview of the value from this moment.
But the truth is that, after Friday’s falls, today all of them have pulled the market with gains of 2% for Caixabank and Bankinter and more than 1.8% for Banco Santander and Unicaja, after the punishment of the last session.
Also bear in mind that tomorrow, Tuesday, Enagas will present its results, the first Ibex 35 company to break down its accounts for the third quarter. On Thursday Bankinter will present.
Regarding analyst recommendations, Citigroup lowers Banco Sabadell’s target price to 2.80 euros from 3 euros, while Alantra places it at 3.90 euros and recommends buying its shares, with a potential of 30%.
Aena’s also rises to 24 from 25 euros. On the other hand, JB Capital Markets raises Metrovacesa’s target price to 12.50 euros per share, from 11.80.
In the Continuous Market, it must be taken into account that Neinor Homes has successfully expanded its green bond of 325 million euros maturing in February 2030, through a private placement aimed at institutional investors, increasing its amount by an additional 100 million. The new issue has been set at a price of 102.75%, which represents an implicit profitability of c.4.9%, below the original issue, thus optimizing the cost of debt.
In the rest of Europe, two issues focus the attention of indicators that generally close higher. The first, the BNP Paribas debacle with falls on a day in which, in all the places on the Old Continent, the entities are recovering. At closing they exceed 7%. The reason, the court ruling that has established that the bank, between 2002 and 2008, provided key financial infrastructure – such as letters of credit and access to the US dollar system – for a regime implicated in mass crimes in Sudan.
The second, L’Oreal and Kering, two of France’s business emblems, have sealed a long-term strategic agreement that will transform the world map of perfumery and well-being. The pact includes the purchase by L’Oréal of Kering’s beauty business for 4 billion euros, an operation that includes the iconic House of Creed brand, the fragrance and cosmetics licenses of Gucci, Bottega Veneta and Balenciaga, and the creation of a joint company dedicated to innovation in well-being and longevity.
Already in the rest of Europe, the EURO STOXX 50 rises 1.32% to 5,681 points, the CAC 40 advances 0.41% to 78,206 points, the Dax gana 1.80% to 24,271 points, and the session in London ends for el FT 100 with gains of 0.50% to 9,401 points.
On Wall Street, purchases prevail, discarding the scare of the credit crisis, with the support of Apple and with the run run that runs in the market due to the possibility that, sooner rather than later, the shutdown, lor that investors read positively.
Investors will have to keep an eye on Apple’s price. According to research firm Counterpoint, the iPhone 17 series is surpassing its predecessor in first sales in the US and China. The new models outsold the iPhone 16 series by 14% during their first ten days of availability in both countries, according to their calculations.
We will also have to see how the Amazon Stock Market evolves after Amazon Web Services, leader in the cloud infrastructure market, has reported a significant interruption of its service this Monday, which has caused the fall of numerous renowned websites. The incidents have affected Amazon, but also Disney +, the McDonalds app, Lyft or even media such as The New York Times.
In the business field, the quarterly results season is picking up cruising speed this week, with the accounts of important companies in various sectors. Netflix, Coca-Cola, Philip Morris, Texas Instruments will walk the catwalk (Tuesday); Tesla, IBM, AT&T (Wednesday); Intel (Thursday); or Procter&Gamble (Friday).
At the close of the Spanish stock market, the indicators show gains, the DOW JONES rises 0.83% to 46,575 points, the S&P 500 advances 1.01% and stands at 6,731 points and the Nasdaq appreciates 1.40% to 22,999 points.
Already in fixed income, increases at the close for asset returns, with increases of 0.10% for the 10-year Spanish bond to 3.11% while, the German bund places its yield at 2.5839% and rises 0.4%. The risk premium barely fell 0.10% to 52.7 basis points.
In oil, cuts that are on the verge of the year’s lows marked last May, to Brent is trading at $60.69 and loses 0.98% and for West Texas, which, in this case, rose 0.87% to $56.66. Meanwhile, Gold Futures are rising again with advances that take them back to highs. Gain 3.61% to $4,365.11 per ounce.
The Euro Dollar with barely any movements and a slight increase for the single currency of 0.05%, while the dollar loses traction up to 1.1658 in its exchange rate with the American greenback. Bitcoin, for its part, with increases of 2.43% to $111,123 per ounce.