Capricorn 35: 12,000 people escaped despite pressure from banks and Acciona Energía
After several flirtations with 12,000 points in recent days, the IBEX 35 index ends the week positive and above 11,900. The Spanish selection appeared after yesterday’s day of cuts, on Thursday, although The week was clearly positive, with cumulative growth of 1.7%..
The index has managed to reach levels it hasn’t seen since early 2010, although it has hit the psychological 12,000 point level every time so far, and it did so again this Friday. So, in the midst of a European Central Bank hangover following yesterday’s 25 basis point decline, the Ibex 35 index closes at an increase of 0.17% to 11,934.90 points. The biggest rises today were Acciona Energías Renovables (2.67%), Caixabank (2.40%) and Banco Sabadell (2.35%). All banks ended the day positively: BBVA (+2.09%), Bankinter (+1.33%), Santander (+1.28%) and Unicaja (0.93%).
On the other hand, the biggest declines in the stock market today were observed by Inditex (-1.61%), Telefónica (-1.38%) and Cellnex (-0.58%).
Business news
Caixabank has carried out a repurchase of 64.42% of its shares in the twelve weeks since the start of this program on July 31, for a total amount of 500 million euros, CNMV said. In total, the company repurchased 60,959,008 shares for a total amount of 322.1 million euros.
HSBC has revised its share price upwards for Iberdrola, Endesa and Acciona Energías Renovables, increasing the scope for further gains in their shares. Specifically, analysts are raising their target price for Iberdrola to €15.50, up from the previous €15. HSBC also raises the valuation of Endesa to €21.60 from the previous €20 and Acciona Energías Renovables to €22.50 from the previous €22.
Banco Santander has gained 21% this year, but according to UBS Ignacio Cerezo, could rise to 31% due to €6.20 per share, which they call a target price with a buy recommendation.
Telefónica shares slowed to pre-pandemic highs after the world’s biggest manager BlackRock recorded a sixth straight decline in participation last month and analysts at Alantra issued one of their lowest current estimates for the stock.
Deutsche Bank lowers its target price for Redeia (REE) to €17.50 per share, down from the previous €17.70.
Barclays raises its target price for Aena to 190 euros per share from the previous 185 euros.
Gold extends its record
He other European stock markets The tone of today’s closing is also positive throughout, with the exception of FCS index 100 London, which remains 0.33% at 8,358.62 points. For my part, DAX German adds 0.34%, CAC 40 The French are adding 0.39% today, and Euro Stokes 50 0.77% to 4985.45 points.
Controversial opening this Friday at Wall Streetalthough New York’s major indexes are on track for a sixth straight week of gains, their best streak of the year. The DOW JONES, which is starting at all-time highs, lagged slightly and subtracted 0.05% compared with gains of 0.30% in the S&P 500 and 0.10% in the Nasdaq, which took advantage of Netflix.
On the commodity markets, an ounce of gold registered growth this Friday. new all-time high at $2,733.90.in the context of the ECB’s monetary policy decision to cut interest rates again by a quarter point. Concerns about escalating conflicts in the Middle East and looming US elections have investors seeking safety, hence the renewed momentum for the precious metal.
Oil futures move sideways biggest weekly loss in more than a month amid concerns about global demand. He Brent Europe’s benchmark price fell 2.3% to $72.73 a barrel, while West Texas US shares fell 2.5% to $68.91.
In the foreign exchange market, the Eurodollar rose 0.25%, leaving the exchange rate at $1.0859 per currency.
In the cryptocurrency section, Bitcoin added more than 2% to $68,494, while Ethereum added 1.3% to $2,641.41.
The fixed income sector is always very sensitive to possible changes in monetary policy. 10-year Spanish bond yield drops to 2.866%.