Ibex 35 remains at 11,000 despite the slight drop caused by Grifols.
The IBEX 35 index fell slightly, down 0.14% mid-session, to 11,060 points. The top losers were Grifols, which fell 1.71, while Cellnex fell 1.32. Among the indicators that are growing is Fluidra, which adds 1.85% compared to 1.82% for Acerinox.
In the qualifying round of Madrid, there was an increase for two days in a row, which allowed him to again break the barrier of 11,000 points. Already in the spotlight level of 11,111.30 points, which represents the annual closing high since March 27..
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The quarterly results season in Spain is gaining momentum, with one of the IBEX 35’s greatest heavyweights such as Iberdrola reporting today. The company posted a net profit of 2,760 million euros in the first quarter of the year, up 85.8% from 1,485 million euros in the same period last year, thanks in large part to a million-dollar capital gain recorded from the sale of assets in Mexico.
The sale of assets in Mexico alone, which closed on February 26, contributed an extraordinary contribution to the net profit of €1.165 million.
In turn, the gross operating result (EBITDA) at the end of March amounted to 5.857 million euros, which is 44.1% more than in the same period last year. The group’s turnover between January and March reached 12,678.5 million euros, representing a drop of 18% compared to the first quarter of 2023.
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Iberdrola will propose additional dividends of 0.348 euros for July.
In addition to Ibex 35, the company also presented quarterly results to DIA. The supermarket chain reduced net sales by 3.4% in the first quarter of this year compared to the same period in 2023, amounting to 1,720.7 million euros, CNMV said. In Spain, gross sales under the banner grew by 6.3% to €1.182 million, with the online channel up 25.8%.
For its part, Global Dominion reported a net profit of 7.3 million euros in the first quarter, down 40% from the same period last year. Through March, Dominion’s sales totaled €283.1 million, up 0.6% from the first quarter of 2023. The company’s gross operating result (Ebitda) reached 34.8 million euros in the financial year, which is 2.9% more than in the same period last year.
Without leaving the Continuing Market, it is necessary to take into account that this Wednesday marks the end of the period for accepting offers for public acquisition (OPA) proposed by the Apollo fund (through the tool company Manzana Spain Bidco), as well as ISQ and TDR (with its joint venture). Amber EquityCo) on Applus+.
Returning to IBEX 35, in other news this morning, ACS is regaining control of mining company Thiess by acquiring 10% for 195 million. Specifically, Cimic’s Australian subsidiary owns 60% of the capital and reserves the right to acquire 40% from Elliott until the end of 2026, according to Cinco Diaz.
In terms of analyst recommendations, BNP Paribas Exane raises its target price for Enagas shares to EUR 14.90, up from the previous EUR 13.50. Grupo Santander, for its part, raises its target price to 15.80 euros per share from the previous 14.05 euros.
This Thursday’s macro agenda in Europe is led by Germany’s release of IFO business climate indices for April, with business confidence rising to 89.4 in April and March durable goods orders in the US. .
Futures on Wall Street are pointing to a mixed open for this Thursday’s session after the major indexes managed to close higher yesterday, with the DOW JONES Ind Average adding 0.69% and the S&P 500 and Nasdaq rising 1.20% and 1 .59% respectively. Investors will have to keep a close eye on Tesla’s price today, which has risen up to 13% in the after-hours market despite a sharp drop in earnings. However, the company’s announcement that it plans to delay the release of the budget car to 2025 seems more significant.
Asian stock markets rose in Europe this morning, tracking Wall Street on risk appetite following positive receptions of several quarterly results. Japan’s Nikkei 225 index rose 2.26% to 38,410.50. The growth of the Chinese CSI 300 was more modest, by 0.16%.
In commodity markets, oil prices They edged down slightly after industry data showed an unexpected fall in U.S. oil inventories last week, a positive sign for demand, although markets also remained concerned about fighting in the Middle East.
Brent crude futures in Europe fell 0.33% to $88.12 and U.S. West Texas crude futures fell 0.46% to $83 a barrel.
The euro fell 0.12% against the dollar until the exchange rate reached $1.0688 for each community currency.
In the fixed income sector, the Spanish 10-year yield rises to 3.326%, although the risk premium relative to its German counterpart remains very low at 77 points. On the other side of the Atlantic, US benchmark bonds offer secondary market yields of 4.638%.
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