The Spanish stock market is nothing more. Investors put aside altitude sickness and once again set new levels never seen before in the Spanish market, which join those of the rest of Europe and today, without support from Wall Street.
Full of record so far this week that places the Spanish selective above 16,600 points with triple digits of annual increase for Indra, which paradoxically has been among the weakest of the session, Banco Santander, Unicaja, BBVA and Solaria, which has led the gains this Wednesday.
The IBEX 35 closes the day with advances of 1.39% to 16,615.80 points with increases for values such as Solaria 3.85%, Acciona 3.13% and Grifols A 3.09% and falls for a few companies such as Fluidra 0.93%, Repsol 0.83% and Telefónica 0.82%.
This is the third consecutive maximum that the Spanish selective has achieved so far in November and adds to the three most broken in the month of last October.
Among the protagonists of the day, Telefónica, after last week it put on the table a strategic plan that was not well received by the market, especially with regard to the planned dividend cut. Today the newspaper Five Days publishes that the company has called on the unions to negotiate an ERE that will cut some 6,000 jobs. The adjustment, which will be announced on Monday, will be based on voluntary resignations and early retirements. The group intends to allocate all its costs to this exercise, this medium adds.
While waiting to see if this adjustment materializes, today Barclays analysts cut Telefónica’s target price to 4 euros per share, from the previous 4.90 euros and the value has ultimately been read with slight falls.
Also bad news in the area of recommendations for Acerinox, which sees Morgan Stanley lower its target price to 13.70 euros, from the previous 14 euros.
Investors are also awaiting a new batch of quarterly results at the end of the week, with the accounts between Thursday and Friday from Acciona and its subsidiary Acciona Energías Renovables, ACS, Banco Sabadell, Inmobiliaria Colonial and MERLIN Properties.
Regarding the values of the Continuous Market, The Economist publishes that OHLA seals peace with the Government of Chile for the concession of four hospitals in Biobío.
Yesterday after the closing Vocento presented its accounts. The media group recorded a nine-month loss of 3.2 million euros. The good news is that revenue increased 2.7% on a constant basis and excluding extraordinary effects and the company reduced its debt by 32%.
On the other hand, Talgo has called an extraordinary shareholders meeting for December 12 and 13 with the aim of completing the entry into its capital of the Basque consortium led by Sidenor and participated by the Basque Government and the BBK and Vital banking foundations.
And in the rest of Europe, more of the same. Generalized gains for the indicators. The EURO STOXX 50 rises 1.07% to 5,787 points, the CAC 40 advances 1.04% to 8,241 points, the Dax earns 1.16% to 24,378 points, and the session in London ends for el FT 100 with gains of 0.09% to 9,908 points.
On Wall Street, a lukewarm session after yesterday’s increases, especially for a DOW JONES Ind Average that started today from historical levels.
Everyone is waiting for the reopening of the government, with the vote today in Congress in the Spanish dawn. And it is expected that by the end of the week or next the statistics will reach the market again.
Regarding companies, AMD foresees a 60% increase in revenue from its data center business in the next 3 to 5 years. Revenues will exceed 16 billion in 2025. The chip manufacturer’s shares register increases of more than 9.5%, being the most notable on the Nasdaq.
IBM has presented a new quantum computing chip scheduled to launch in late 2026. the chip IBM Quantum Nighthawk will allow the company to achieve a ‘quantum advantage’ by the end of next year. IBM has assured that it is already collaborating with clients such as Boeing, Lockheed Martin and Vanguard for the use of its quantum computers. The company is working to launch the world’s first large-scale, fault-tolerant quantum computer, called Starling, in 2029. IBM rises 2.4% on the stock market, marking year-on-year highs.
And news regarding the Fed, which The New York Times advances, since it indicates that Atlanta Federal Reserve President Raphael W. Bostic is considering leaving his position in Februarycreating a new vacancy in the ranking of federal banks in the United States in the midst of the fight over interest rates.
At the close of the Spanish stock market, the indicators are mixed, the DOW JONES reinforces highs with increases of 0.75%, thanks to Unitedhealth, and the banks Goldman Sachs and Citigroup, to 48,287 points, the S&P 500 falls 0.04% and stands at 6,842 points and the Nasdaq gives up 0.54% to 23,341 points.
Already in fixed income, cuts in asset returns, with falls of 0.57% for the 10-year Spanish bond to 3.144% while, the German bund places its yield at 2.6475% and drops 0.36%. The risk premium corrects 1.8% to 49.56 basis points.
In oil, significant cuts in barrel futures on both sides of the Atlantic following OPEC’s announcement that global supply will equal demand in 2026, which represents a new change from its previous supply deficit projections.
El Brent that is trading at $63.01 and is down 3.24% and West Texas drops a significant 3.62% to $58.82. Meanwhile, Gold Futures gained strongly, up 1.8% to $4,189 an ounce.
The Euro Dollar with a slight increase for the single currency of 0.13%, while the dollar loses traction up to 1.1597 in its exchange rate with the American greenback. Bitcoin, for its part, with cuts of 1.92% to $101,422 per asset.