The Ibex 35 index rose above 11,800 points for the first time in October, thanks to CaixaBank and Endesa.

Spanish shares continue to rise, with investor approval, this week The ECB, with a new meeting of its Governing Council and a discount on the third rate cut this year in the eurozone. In this case, with the connivance of Wall Street and without justification for benefits that were imposed from the first hour and which gained momentum as the session progressed.

In fact, the Spanish selective closed the first trading session of the week. above 11,800 points. This he first did it in October and therefore bodes well for the highs of the last 14 years being left behind and even surpassing the intraday highs reached this year, which are just above 12,000.

A significant portion of the IBEX 35 index values ​​showed growth and even exceeded 1% in more than a third of companies.

Late Monday, the Ibex 35 index closed the session at its best level since September 30, recording a 1.12% gain to 11,850.90 points, with Caixabank up 2.5%, Endesa 2.06% and Mapfre 1.95% down. Solaria 3.39%. Puig 1.73% and MERLIN Properties 0.81%.

In the news of the day, Bankinter has taken another step in the field of artificial intelligence as it has decided to implement Copilot, Microsoft’s generative artificial intelligence, across various areas of the bank to improve workplace efficiency, it said. . This is an initiative in which Copilot for Microsoft 365 integrates advanced AI capabilities directly into everyday workflow through various Microsoft programs.

Thus, this application will allow Bankinter employees to perform tasks that require information analysis and data extraction faster and more efficiently.

And positive news for Ena. Its network of airports in Spain have been closed since September. with a total of 29.6 million passengers, up 7.6% from the same month in 2023.That’s an increase of nearly 10 percent, according to the airport’s manager, who recorded a total of 237.8 million passengers this year.

In total, 240,025 aircraft flights were processed in the ninth month of the year.6.6% more than in 2023, and 108,722 tons of cargo transported, which is 14.2% more than last year. In fact, in September the passenger record was broken across the entire Aena network and at 17 airports.

In terms of recommendations, Autonomous Research focuses on the financial sector. For Banco Sabadell, a neutral recommendation is maintained with an increase in the target price from 1.94 to 2.01 euros per share; for Banco Santander, a sell recommendation is maintained and the target price is increased from 4.62 to 4.98 euros.

For Bankinter, Autonomous Research maintains a neutral recommendation and lowers its target price from €8.11 to €7.96 on BBVA.
He leaves his overweight recommendation unchanged and raises his target price from €12.80 to €13.20 per share. And for Caixabank, he maintains an “outperform” recommendation and raises the target price from 6.15 to 6.16 euros.

And they are complemented by Repsol, as Banco Sabadell maintains an overweight recommendation and lowers its target price from €18.13 to €16.90 per share. And with Solaria, as Berenberg maintains a buy recommendation and lowers its price target from 21 to 14 euros.

Already in Europe gains across several Euro Stoxx 50 sectors, led by technology, utilities and industrials, amid losses in cyclical consumption, non-cyclical consumption and basic materials.

Among the values ​​is profit ASML, UBS and Italian Enel compared to the fall of LVMH, BASF and Glenncore.

Thus, at the close, the EURO STOXX 50 index rises by 0.72% to 5039 points, the CAC 40 index adds 0.27% to 7598 points, and the CAC 40 index adds 0.27% to 7598 points. DAX is moving forward 0.81% to 19,512 points, and the session in London ends at FT 100 with a revaluation of 0.46% to 8,291 points.

Already on Wall Street broad gains with a 46-year high for the S&P 500, as well as a new mid-session intraday record for the Dow Jones in a new higher session for US indicators.with the first establishment of the level of 5800 points and the second one does the same until he scores 43,000 points.

All this in a week full of results, which will begin, and the biggest ones, tomorrow. Bank of America, Goldman Sachs and Johnson & Johnson will report their quarterly results on Tuesday, and Morgan Stanley and United Airlines I’ll do it on Wednesday.

Alliance of Walgreens Boots, Netflix and Procter & Gamble They will also release third-quarter earnings this week. According to Bank of America and CNBC, 30 S&P 500 companies have reported earnings so far, beating consensus earnings estimates by an average of 5%.

This figure is 3% higher than what happened to date in the last quarter. with a stellar start from the big banks last Friday, and especially JPMorgan Chase. However, Bernstein believes this quarter’s year-over-year EPS growth rate will be “much lower” than last quarter.

In news, Flutter Entertainment, the parent company of FanDuel, rose 4% after Wells Fargo upgraded its stock to overweight and said investors should consider buying the stock after the recent sell-off.

Meanwhile, Boeing Co shares fell 2.3%, with shares falling after the plane maker announced Friday afternoon that it plans to cut about 10% of its workforce, or about 17,000 people. Boeing also delayed delivery of its still uncertified wide-body 777X jet and forecast a larger-than-expected loss in the third quarter. The company is suffering mounting losses due to the ongoing driver’s strike.

In the middle of the session, the DOW JONES Ind Average rose 0.28% to 42,984 points, which is an all-time high, while the S&P 500 Index added 0.64% in the same conditions to 5,852 points, and the Nasdaq OMX Index rose by 0.73% to 18,476 points.

In fixed income, Spanish 10-year bonds fell 0.3% to 3.012%. and the German bond was placed at the opening level of 2.27.50%. The Spanish risk premium fell 1.34% to 73.40 basis points.

As for oil, there is a strong correction, after data from the OPEC report. Third reduction in global oil demand growth forecasts for 2024 and 2025. about 106,000 bpd less than the previous estimate.

Falls in love with him Brent rose almost 2% to 77.53 and West Texas crude futures rose 2.2% to $74.02.

The euro-dollar is already losing ground against the single currency by 0.24% and is trading on international currency markets at 1.0911 units.