Ibex 35 “resurrected” after Trump: it is close to 11,600 points thanks to ArcelorMittal and Acerinox

The Spanish stock market is gaining momentum again and erases some of the losses from its worst session in 20 months since Donald Trump won the US presidential election. However, these gains are not the same as those in Frankfurt, for example, which is again supported by a new positive session on the other side of the Atlantic and marked, on the positive side, by very good growth figures for the two countries. steel companies, two values ​​that will be visible supported by the politics of who will become the new tenant of the White House, and, in turn, the presence of the first in the United States and the nine-month performance of the second.

Spanish Select unable to restore the level of 11600 points and returns the selector to the starting line and moves away from supports that could jeopardize in the short term the main bullish march that the indicator still supports from a technical point of view.

Thus, at the end of the day, IBEX 35 increased by 0.65% to 11,570 points with the growth of such values ​​as ArcelorMittal 6.39%, Acerinox 4.7% and BBVA 4.15%, as well as the decrease that was noted this Thursday Laboratories Rovi 13.09. %, Telefónica 2.08% and Aena 1.69% in the first positions.

Among the protagonists of the day are again the financial results of Telefónica, whose total profit amounted to 989 million euros, down 21.7% compared to the same period of the previous year. Revenues for the third quarter fell 2.9%, rising. to 10,023 million euros, and in the first nine months the total amount will reach 30,418 million. Due to the impact of currencies, EBITDA fell 2.5% in the quarter to €3,260 million. In the first nine months of the year, the operating result before depreciation and amortization reached EUR 9.684 million, up 0.4%. And it ended up being the second worst value of the day.

Telecom emphasizes that the results allow this to be done confirm all your financial goals for the whole of 2024. These goals include revenue growth of about 1%, EBITDA of 1% to 2% and operating cash also of 1% to 2%, an investment-over-income ratio of up to 13%, and free cash flow growth of more than 10%. %.

For its part, Amadeus recorded a profit of 992.1 million euros in the January-September period, up 17.8% from 841.9 million euros in the same period the previous year. Thus, compared to the previous year, Amadeus’s revenue grew by 12.6%, EBITDA grew by 13.3%1, operating profit grew by 16.9%, and adjusted profit increased by 17.4%.

But within the results, heads and tails of the session are led by two values: ArcelorMittal, on the positive side, had an attributed net profit of $1,729 million (€1,607.4 million) for the first nine months of this year, representing a decline of 55.5% on compared to the result recorded for the same period in 2023. ArcelorMittal’s revenue for January-September amounted to $47.727 million (44.369 million euros), which is 11.2% less than the same period last year.

And Laboratorios Rovi, on the negative side, received net profit of 113.5 million euros in the first nine months of the year, down 4% Compared to the same period in 2023. Rovi’s EBITDA fell 2% compared to the January-September 2023 period, reaching €167.2 million, while its Ebitda margin increased by eight-tenths to 29.6%. Rovi’s operating profit for the first nine months of the year reached 564.6 million euros, down 5% compared to the same period in 2023.

Already in the rest of Europe widespread successes despite Germany and what means its citizens will almost certainly return to the polls next year in the face of the apparent current collapse of its government.

Cyclical consumption of basic materials and technologies is pulling the market in the face of cuts in healthcare, utilities and finance.

Among the promotions are BASF, Glenncore and SAP and the most pronounced drops are observed for such values ​​as BNP Paribas, Intesa SanPaolo and pharmaceutical company AstraZeneca.

At market close, the EURO STOXX 50 index added 1.06% to 4,851 points, the CAC 40 rose 0.76% to 7,425 points. Dax rises 1.74% to 19,367 as London session ends FT 100 with losses of 0.33% to 8139 points.

Yesterday’s rally continues on Wall Street, with new intraday highs for the S&P 500 near 6,000, a minimal gain for the Dow Jones Industrial Average and tech stocks dragging the market once again.

Once again, the results set the pace for the market again, with Moderna achieving third-quarter profits of $13 million (just over €12 million). For the same period in 2023, the company recorded losses of $3.630 million (€3.374 million). Sales of Moderna’s COVID vaccine Spikevax were $1.8 billion, up 3.5% from a year ago and well ahead of analysts’ average expectations of $1.38 billion. The company said it benefited from rising U.S. sales following the early rollout of a COVID vaccine this year.

Arm Hldg issued quarterly guidance that disappointed investors who had high hopes due to interest in chip companies driven by artificial intelligence. The company, whose chips power nearly every smartphone in the world, has more than doubled in size since its initial public offering last September, boosted by bets that it will benefit from a boom in artificial intelligence technology. According to data compiled by LSEG, Arm’s revenue forecast for the current fiscal third quarter is between $920 million and $970 million, the midpoint of which matches analysts’ estimates of $944.3 million.

Qualcomm shares soared about 7% in premarket trading after the company reported better-than-expected results and forecasts that came in better than expected. At the end of the fiscal year, Qualcomm recorded adjusted earnings per share of $2.69, above market expectations of $2.56, representing growth of more than 20%. Revenue was 10.24 billion, also beating the 9.9 billion estimate.

Following trading on the Spanish stock market, the DOW JONES Ind Average fell 0.02% to 43,723 points, the S&P 500 index rose 0.62% to 5,965 points, and the Nasdaq OMX Index rose 1.30% to 19 228 points.

In secondary fixed income, bond yields surge Spanish 10-year bonds rose 0.61% to 3.158%. while German 10-year bonds rose 1.25% to 2.426%. The Spanish risk premium ended at 73.80 basis points on Monday, down more than 1.2%.

Rebound in oil Brent rose 0.52% to 75.25%. For its part, West Texas added 0.38% to $71.92. Gold futures are recovering from yesterday’s sharp decline, rising 1.02% at $2,703 an ounce.

The euro-dollar ended the day at 1.0793 units, with the single currency up 0.60% against the US dollar.

And Bitcoin is gaining ground, up 1.82%, with a price of $75,693 at the close of the Spanish stock market this Thursday.