The Ibex 35 index recovers 11,000 points and ends the week higher.
The IBEX 35 index opened 0.52% higher at 11,040.30 points. The biggest gainers were Cellnex, which rose 2.30%, while Grifols rose 1.90%. Ferrovial shares lost 0.65% and Laboratorios Rovi corrected 0.59% after strong gains yesterday.
The Madrid sample comes after a bearish session yesterday on Thursday after below-expected US GDP data sparked risk aversion in major global markets. However, at the end of the week The index entered this Friday’s session up 2.37%..
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Investors today, especially dividend hunters, should note that this Friday is the last day to buy shares with the right to receive payouts from two of the biggest Ibex 35 heavyweights: Inditex and Banco Santander. Between them on May 2 they will distribute at least 3.9 billion euros.
Meanwhile, the board of directors of Acciona Energías Renovables will propose to its next general meeting of shareholders, which will take place in June next year, the payment of more than 158 million euros in dividends accrued based on the results of the company’s 2023 financial year.
Payment will be total amount 0.48 euros per share or a higher figure determined by the board of directors resulting from the existence of direct equity at the time of payment. Dividends will be paid on June 20.
In analyst recommendations, results presented yesterday by Banco Sabadell appear to have convinced JP Morgan analysts, who raised their target price for their shares to €1.85 from the previous €1.40. Barclays raises its target price to 1.70 euros per share from the previous 1.6 euros.
Morgan Stanley is raising its target price for Iberdrola to 13.5 euros per share from a previous 13 euros, joining a round of improvements following the electricity company’s results on Wednesday.
JP Morgan lowers Acerinox’s target price to €8.20 from €8.80.
In addition, Citigroup raises its target price for Aena to 210 euros from the previous 189 euros.
In other news, Caixabank carried out a buyback of 74.99% of its shares in six weeks since the program began on March 14, for a total amount of 500 million euros, as reported by CNMV. In particular, during the sixth week of the program, the bank purchased more than 13.1 million securities at an average price of 4.90 euros and a total amount of 64.6 million euros. In total, the company repurchased 79,390,019 shares for a total amount of approximately 375 million euros.
On a continuous market basis, Prosegur Cash achieved a consolidated net profit of €17.7 million in the first quarter of this year, representing an increase of 25.3% compared to the profit of €14.1 million recorded in the same period in 2023 of the year. Sales have declined. by 1.4% between January and March, to €470.5 million, despite continued growth of 2.7%.
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On the macroeconomic agenda, investors in Spain had breakfast with numbers survey of the active population (EPA) for the first quarter of the yearwhich shows that unemployment rose by 117,000 between January and March, up 4.1% from the previous quarter, while employment fell by 139,700 jobs (-0.6%), which recorded in both cases its worst first-quarter performance since 2020.
However, the main benchmark of the day, and even more so after yesterday’s GDP data, will be the data US Personal Consumption Price Index (PCE) for March, which is the price variable that the Fed uses to set its monetary policy. Fundamentally, annual headline PCE growth is expected to accelerate slightly this month to 2.6% from 2.5% in February, while its underlying asset growth is expected to ease to 2.7% from 2.8%. compared to the previous month. month. “An online or better-than-expected reading will be greeted with relief by investors, and if it disappoints and beats analysts’ forecasts, tension will return to European and US bond and equity markets,” says Juan J. Fernandez-Figares of Link Gestion.
At the moment, in the rest of the European stock markets, the DAX index rises by 0.5%, to 18,018.01 points, the FT-100 rises by 0.6%, to 8,134 points, the CAC 40 rises by 0.6%, to 8 067 points, and the EURO STOXX 50 is trading at 4970 points after rising 0.6%. The FTSE MIB rose 0.7% to 34,191.
It was a tough session on Wall Street yesterday, with the DOW JONES down nearly 1% on a normal day, but the good reception the Alphabet and Microsoft accounts reported after the close seemed to be a balm for stock markets. investors. Futures are rising in anticipation of the aforementioned inflation data.
During the Asian session, the Nikkei 225 index in Tokyo rose 0.8% to 37,943 on a day marked by the Bank of Japan’s monetary policy meeting. The institution left interest rates unchanged and issued new estimates that inflation will remain close to its 2% target over the next three years. This opens the door for rates to rise this year.
In commodity markets, oil prices will begin to rise this Friday, heading towards a week in the green after two straight weeks of losses, after a senior US official expressed optimism about economic growth and, although supply concerns remain due to conflicts in the Middle East. East.
Brent crude futures rose 31 cents, or 0.4%, to $89.32 a barrel, and U.S. West Texas Intermediate (WTI) crude futures rose 23 cents, or 0.3%, to $83 a barrel. . This week, Brent has gained 2.3% and WTI has risen 0.8%.
The opposite is true for gold, which is heading for its first weekly decline in six weeks as fears of a major escalation in the Middle East crisis subsided. Spot gold rose 0.1% this morning to $2,334.57 an ounce. US gold futures rose 0.2% to $2,346.70.
On fixed income, benchmark Spanish bonds offer a yield of 3.391%, while US 10-year bonds offer 4.678%.
The euro rose 0.08% against the dollar to an exchange rate of $1.0738 per currency. The yen falls against the US dollar in a volatile session after the Bank of Japan maintained its monetary policy stance.
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