Ibex 35 strengthens to 11,300 on gains led by Ferrovial and Rovi.

The IBEX 35 index closed modestly up 0.05% to 11,332.00 points. Among the main gainers, Ferrovial rose 1.86% and Laboratorios Rovi 1.30%. Among the decliners, Repsol stood out, falling 1.50% compared to Solaria’s 1.33%.

The Madrid qualifying index was released for the day after it climbed again on Tuesday to reach 11,300 points, its highest since mid-June. The index has risen in 12 of the last 15 trading sessions, recovering from a fall earlier this month.

One of the main heroes of the day at Ibex was ACS, which is at the top of the daily gains. According to a report in the Expansión newspaper published early this morning, Hochtief has completed its reorganization plan by almost 80%. The company, headed by Florentino Pérez, is expanding its subsidiary in Germany, while reorganizing its operations in the United States and Australia by merging subsidiaries.

In the financial sector, Banco Sabadell is seeing the bearish fund Millennium International Management LP reduce its short position to 0.58% of capital, according to CNMV data. Sabadell represents the best price on the Ibex 35 this year, with a 77% overvaluation, which is linked to a hostile takeover bid put forward by BBVA.

Another financial sector asset closely watched by investors in today’s session is Banco Santander, which was one of the main players yesterday, rising 2.5% after launching a share buyback program worth 1.525 million euros.

For its part, Repsol has successfully closed a bond issue for a total of 850 million euros for a period of 10 years, with investor demand tripling the offer. The bonds are due for redemption in 2034, the coupon is 3.625% per annum, the issue price is set at 99.497% of the par value, the yield is 3.686%.

In terms of analyst recommendations, Inditex sees two companies raising their target price: Barclays and Bryan Garnier. The former is raising it to €44 from €42, recommending an “overweight,” while the latter is raising it to €50 from €47, recommending a “buy at value.”

On the other hand, Alantra Equities raises its price on Acciona Energías Renovables to 27.10 euros per share from 27.08, Bernstein raises its target price on Iberdrola by one cent to 12.70 from 12.69 euros and does the same on Endesa – 20.50 from 20.49 euros.

All eyes were on Talgo in the continuous market after its shares fell 9% yesterday following news that the government had vetoed a takeover bid for Hungarian group Magyar Vagon, citing national security concerns.

macroeconomic agenda Today there are almost no significant references, except for these Eurozone M3 Money Supply Julywhich rose 2.3%, as well as weekly data in the US on mortgage applications and oil and derivatives inventories.

As the market processed these figures throughout the day, European stock markets close out the session this Friday: Germany’s Dax rose 0.48% to 18,788, France’s CAC 40 registered 0.16% to 7,577, London’s FTSE 100 fell 0.02% to 8,343, the FTSE MIB added 0.28% to 33,872 and the EURO STOXX 50 added 0.27% to 4,912.

But all eyes are on the results NVIDIA will present at the end of the North American session, which is up more than 166% this year and 3,000% over the past five years.

“Many investors have been sitting on the sidelines in recent days, waiting for Nvidia to report its Q2 FY25 results,” he said. Juan J. Fernandez-Figares, Link Securities“We are confident that the company will be able to comfortably beat analyst consensus sales and earnings expectations, as it has done recently. It is unclear to us whether this will be enough for investors.”

In anticipation of those numbers and what impact they might have on the market, Wall Street opened today with the Dow Jones Industrial Average down 0.08% to 41,216, while the S&P 500 lost 0.02% to 5,624. The NASDAQ 100 fell 0.01% to 19,579.

During the Asian session, Japan’s Nikkei index managed to shake off the doubts that dominated much of the trading session due to the strengthening yen, and eventually closed up 0.22% to 38,371 points.

In fixed income, the benchmark 10-year Spanish bond offers a secondary market yield of 3.089%, leaving a risk premium over its German counterpart of 83.05 bps. On the other side of the pond, the US 10-year bond yields 3.832%.

Already on the raw materials market oil prices falling on lingering concerns about Chinese demand and heightened risks of a broader slowdown, although the decline is certainly limited by potential supply losses from the Middle East and Libya.

Thus, BrentBenchmark European crude fell 0.55% to $78.23 a barrel, while West Texas Intermediate crude futures fell 0.33% to $75.28 a barrel.

The euro-dollar fell 0.5%, setting the exchange rate at $1.1128 for each community currency.