Ibex 35 falls again and moves away from the 11,800 mark with an avalanche of results.

The IBEX 35 index fell 0.47% to 11,739.90 at the opening on Wednesday. The biggest hit in the first hour was Mapfre, down 1.78% compared to the 1.17% dropped by Aena. On the growth front, Unicaja shares rose 3.67% while Indra recorded an overvaluation of 1.85%.

The Madrid selective market comes after a down day yesterday on Tuesday that saw it lose more than 100 points to close below 11,800 points after the burden of poor performance from Banco Santander or Acerinox became too much for investors to bear in trading. a time when nerves are already visible in all markets due to the US elections next week.

This Wednesday marked quarterly results again, with several Ibex 35 companies reporting ahead of the open.

Among them is Endesa, which posted a net profit of €1.404 million in the first nine months of the year, up 32.6% on the same period last year. The electricity company’s revenue reached 15.765 million euros, representing a decrease of 17.9% compared to 19.211 million euros a year ago. Endesa’s gross operating result (Ebitda) at the end of September was €3.881 million, an increase of 15.7%.

The company confirms to the market that it is in a “comfortable” position to achieve the high range of targets set for the full year: achieving EBITDA of 4,900–5,200 million and net ordinary result of 1,600–1,700 million.

Aena recorded a profit of €1,449.8 million in the January-September period, up 27.3% from €1,139.1 million in the same period last year. EBITDA amounted to EUR 2,663.3 million with a profit margin of 60.6%. This figure represents an increase of 26% compared to 2023 (2113.6 million people). In terms of consolidated profits, the airport operator billed a total of €4,396.7 million, up 16.3% year-on-year. Of this, aviation revenue grew by 14.6% and commercial revenue increased by 16.6%.

Indra made a net profit of €184 million in the first nine months of the year, representing an increase of 26%. The company’s revenue for the first nine months of the year amounted to 3,400 million euros, up 12.7%, and EBITDA reached 369 million, up almost 21% compared to 305 million euros in the same period the previous year.

Unicaja recorded a net profit of 451 million euros in the first nine months of 2024, compared with 285 million in the same period in 2023, representing an increase of 58%, the company said, highlighting that all profit margins and losses showed double-digit growth.

Redeia (REE) made a net profit of €408.8 million in the first nine months of the year, representing a decline of 23.6% compared to the same period the previous year, due to the end of the useful lives of its assets being regulated to this. to 1998, with an annual impact on revenues of approximately 260 million euros, the company said. The group’s BITDA for the period from January to September amounted to 1.024 million euros, a decrease of 13.4%. Revenue amounted to €1,428.2 million, which was impacted by the end of the economic useful lives of properties licensed to operate prior to 1998.

Last night, at the end of the Wall Street session, Ferrovial announced that it generated adjusted EBITDA of €1.008 million for the first nine months of 2024, up 50% from the same period last year on a like-for-like basis. The construction company’s sales for the period increased by 6.2% to 6.643 million euros. The company did not disclose the net result in this announcement.

For the first nine months of 2024, Puig Brands had net sales of €3,428 million. This represents growth of +10.1% in reported terms and +9.6% in LFL compared to the same period in 2023. Exchange rate movements had a negative impact of -0.8% in the first nine months of 2024.

Today also take into account that Vanguard publishes that José Ignacio Goirigolzarri is resigning today as president of Caixabank, and tomorrow the bank will present its results for the first nine months of the year.

The macroeconomic agenda is also very busy, in particular, in Spain, data on the consumer price index for October and GDP for the third quarter were published right at the opening. According to INE, Spain’s third-quarter GDP rose 0.8% quarter-on-quarterwhich is better than market expectations. Compared to the same quarter a year earlier, Spain’s economy grew by 3.4%. For my part, The Consumer Price Index registered a 1.8% rise in October. compared with the same month the previous year, after rising 1.5% in September.

But today investors will also have to pay attention to the release of eurozone GDP for the third quarter, as well as the German consumer price index, while in the US this afternoon, private sector employment data for October, prepared by the processor, will be published. ADP, and this will serve as a prelude to Friday’s jobs report.

At the moment, across the rest of Europe’s stock markets, the DAX index is down 0.4% to 19,406.65 points, the FT-100 is down 0.3%, above 8,190.55 points, and the CAC 40 is trading at 7,453.75. points after a 0.7% correction, the euro STOXX 50 lost 0.4%, while the FTSE MIB started the session at 34,747 points after falling 0.56%.

Futures on Wall Street are pointing to a bullish open this Wednesday, riding on the bullish momentum of a strong reception to Alphabet’s results and after yesterday’s mixed close. The DOW JONES index closed down 0.36% last night, while the S&P 500 gained 0.16% and the Nasdaq rose 0.78%, supported by quarterly results.

In Asian trading, most Asian shares fell on weakness in China as investors brace for a closely contested US election that could have huge implications for the world’s second-largest economy even as Beijing tries to prop up economic growth. China’s CSI 300 fell 0.87%. In Japan, however, the Nikkei 225 index in Tokyo bucked the trend, rising 1.16% at the close.

In commodity markets, oil prices rose but remained at more than a month low after falling in the previous two sessions, as markets weigh a possible ceasefire between Israel and Hezbollah and rising OPEC+ crude supplies against possible fuel supply cuts. US reserves.

Benchmark Brent crude in Europe rose 0.66% to $71.20 a barrel, while U.S. West Texas crude settled at $67.73, up 0.77%.

On fixed income, Spanish 10-year bonds pay 3.00% and the risk premium to Germany is 69.95 points. US bond yields fell below 4.3% to 4.248%.