Ibex 35 regains 11,000 points thanks to significant increases in Enagás and Grifols.
Spanish stock market enjoys shopping again on calm day and a fall in fixed income yields and significant reduction in risk premiumsand in which, looking at the US, there is no news – as usual – with a repeated speech in the presence of Jerome Powell, President of the US Federal Reserve in the House of Representatives. So we wait to find out tomorrow’s consumer price index in America.
With these whips and with the S&P 500 index posting its seventh consecutive daily gain, hitting new all-time highs, Spanish stock market investors focused on business news, operations, possible operations and recommendations to close a clearly positive recovery session after yesterday’s decline that brought us back to the closing levels of May.
But all that was left behind to return even at the end of this third trading day of the week, level 11,000 points. Today’s selection successes were the largest in all of Europe.
Thus, by the close of the session, the IBEX 35 index is firmly up and gaining 1.59% to 11,071.60 points with Enagas up 6.27%, Grifols A 4.76% and IAG (Iberia) 3.63%, compared to a few declines this session, corresponding to Melia Hotels 0.54% and Bankinter 0.26%.
Among today’s news, Grifols A is once again the absolute hero, with great volatility and constant sign changes. until clearly bullish levels above €10 per share are established. when closing. The reason is twofold. Firstly, because of the possibility thatif Brookfield and the Grifols family finally make a takeover bid To take the value of the shares out of the stock market, they could be placed at least in these 10 euros, which would mean a surcharge of 25% on the pre-advertisement price.
Of course, remember that these levels They’re light years away from 15 euros to Gotham’s bassist attack. and it comes after Grifols’ rating was downgraded by double-digits after Moody’s downgraded it.
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Moreover, on the other hand, we learned how two funds, BlackRock and Melqart, strengthened their value positions due to this possible takeover bid. Blackrock increased its holding in Grifols from 4,304% to 4,438%.acquiring a package of approximately 19 million titles for approximately 188.7 million euros. In turn, Melkart increased his stake in Grifols from 0.9% to 1.109%, equivalent to 4,726,205 shares. through a contract for difference (CFD) worth approximately €47.2 million.
Another key player in the session was Enagás, which reached an agreement to sell its 30.2% stake in Tallgrass Energy to Blackstone Infrastructure Partners for $1.1 billion in order to focus on its hydrogen investment plan.
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This transaction is not only a significant financial transaction, but also will enable Enagás to implement its investment plan in the hydrogen sector.
In addition to these two values, the most optimistic of this session, we see IAG (Iberia), which was given a magic wand in the form of a new price recommendation presented by Morgan Stanley.
The US firm raised its rating on the airline from underperforming to a higher rating, and increases its target price from €2.10 to €2.80, representing a potential upside of 37.25%.
Meanwhile, for Banco Santander, a price target reduction, but more than attractive potential, which is currently priced in. Goldman Sachs is betting on buying the stock on the stock market with a price target that they will lower to 5.75 euros from the previous 6 euros for Banco Santander, with a potential of 31%, and Autonomous Research confirms selling the shares with a PO. that will fall to 4.81 euros per share from the previous 4.98 euros. Thus, they place the organization chaired by Ana Botín with an improvement margin of 9%.
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If we look at the rest of Europe, overall progress is across the board with increases for all sectors represented in the EURO STOXX 50: leading by 1.32% for cyclical consumption, 1% for healthcare and almost 1% for industrials.
Among the values of the German BMW with growth of 2.6%, the Dutch Adyen255%, as well as German BayeuxR, which rose 2.5% compared with declines for companies including BASF, TotalEnergies and EssilorLuxot.TIkathe only ones in the pan-European indicator that are moving negatively today.
So at the end of the day Dax is moving up 1.02% to 18,408 points, the EURO STOXX 50 index rose 1.11% to 4,958 points on Wednesday, the CAC 40 is up 0.86% to 7,573 points, and FCS 100 adds 0.66% to 8193 points.
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It’s Already a Good Day for Buying on Wall Street: Dow Near Opening Level, but Nasdaq Freshly Rises and the seventh straight for the S&P 500, which has already posted 34 gains and broken its all-time record this year.
With no news today in Powell’s bicameral re-election speech, which will be in the House this Wednesday, tomorrow will be all about inflation data that could support a new correction that will ultimately mean Another contribution to the Fed’s case for market expectations: a rate cut in September.
Today’s hero is Carvana, a high-growth company that has grown more than 2,700% over the past 18 months. The automotive e-commerce platform is boosting its shares thanks to Needham switching from hold to buy mode. The firm said the stock could be a “profitable, secular growth story” as retail sales and gross profit per unit increase.
Thus, at the close of Ibex, the DOW JONES Ind Average, which started the day with a decline, rose by 0.12% to 39,338 points, the S&P 500 added 0.26% to 5,591 points, and the Nasdaq OMX added 0.37% to 18,498 points.
Already in the fixed income sector, we see asset yields falling sharply. This is the case with Spanish 10-year bonds, down 2.27% to 3.292%, and German bonds, down 2% to 2.53%. The risk premium falls significantly in Spain to 76 basis points, a decline of 5.65%. In France, the spread reduction is approaching 7%.
In commodities, gold returns to fresh highs with a 0.67% gain to $2,383 an ounce and oil turns positive. European Brent crude rose 0.76% to $85.23. and the US West Texas Intermediate is trading at $82.87, up 1.04%.
Finally, we look at the euro-dollar ratio, which is trading up against the single currency by 0.11% and exchanging at 1.0824 units.
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