The Ibex 35 index saves the week with a positive sign, above 10,000 points, and thanks to the big banks.
The Spanish stock market is again full of reasons through results, end the week on a positive note, stabilizing the close above 10,000 for the fourth day of the week but easing from session best levels ahead of the US jobs report.
Thus, the IBEX 35 index added 0.48% at the close of this Friday and the trading week to 10,062.50 points, with the largest gains coming from Banco Santander (3.70%), BBVA (3.32%) and Grifols A ( 1.89%), and values such as Repsol (2.45%), Cellnex (2.42%) and Indra (2.02%) are experiencing a decline.
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Highlighting the news of the day is the closing results of Caixabank for 2023, whose net profit reached 4.816 million euros at the end of last year in 2023, compared to 3.129 million in 2022, representing an increase of 53.9%.
In addition, it reflects the payment of dividends, in which it will invest 2.890 million euros, and which includes a payout per share of €0.39 per share. as compensation accrued to the accounts for 2023. As usual, the reports were received negatively by the market.
Continuing with the theme of banks, it is worth noting the appointment of a new president of Unicaja Banco, José Sevilla, who will replace Manuel Azuaga, who resigned last November. He has extensive experience in the sector, having been CEO of Bankia from 212 to 2021.
Meanwhile, in terms of recommendations, Iberdrola stands out, for which HSBC predicts double-digit growth potential of 11.5%. In fact, he raises his target price to 12.40 euros per share from the previous 12.19.
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In Inditex’s case, Morningstar’s view on value is less positive, setting its price target at €35 and cutting it from hold to sell, giving the textile giant’s shares a downside of 11.5%.
For its part, Logista will distribute 90% of the net profit for the year approved today by the company’s board of directors, representing a dividend of €245 million at a rate of €1.85 per share.
Also in the news is Iberia of the IAG consortium (Iberia), which has entered into an agreement with trade unions in response to a conflict it had with the company’s ground workers, so-called handling, with the creation of a new company and measures to renew the workforce through a voluntary ERE .
In Europe, the week ended positively, with the exception of a slight drop in London. in which the Spanish shares of Banco Santander and BBVA occupy the top positions, also amid a recovery, with growth above 2% for Stellantis and Volkswagen, which together with Renault and its 3% growth in the Paris CAC 40 were positive. , the best of this Friday’s session.
EURO STOXX 50 adds % to points at the end of the week, Dax At the end of the third trading session of the week, it added 0.33% to 16,915.04 points, CAC 40 increased by 0.07% to 7,594.13 points, while: FT 100 in Londons marks the opposite trend and is down 0.20% to 7615.43 points.
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Already on Wall Street, the session was mediated not only by the results of the three large technology companies, which published at the end of the session: jobs report marked by job stability that US continues to enjoy despite interest rates on the other side of the Atlantic being at their highest levels in 22 years.
Creation of 353,000 jobs in Januaryalmost twice as much as expected, and keeping the rate unchanged at 3.7%, together with rising wages, turned into a mixed session, which was clearly forecast positive for all indicators, including the Dow Jones, which seems to confirm Jerome Powell’s position in not rushing to cut interest rates in the US.
Thus, the DOW JONES Ind Average rises, at the close of the Spanish stock market it loses 0.12% to 38,474 points, the S&P 500 rises by 0.57% to 4,934.43 points, and the Nasdaq OMX rises by 1.13%. to 15,553.49 points.
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All this with an eye on Meta (Facebook), whose shares closed higher than 20%, after the results and the announcement that it would begin distributing dividends, as well as a large share buyback, Amazon regained almost 7%, and Apple, fined from – doubting its management about future sales of its iPhone, fell 1.7%.
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Regarding fixed income, in the US strong growth driven by employment, return on assets, with its 10-year period, which marked the biggest increase since July, again hovering around 4%. In Spain, the 10-year bond rate rose to 3.148%, 2.16%, while German bonds fell 0.78% to 2.2205%. The risk premium for Germany is 92.70 basis points, down 2.06%.
Already on raw materials marketsOil consolidates its fall after OPEC+ inactionand clearly reduces the price of a futures barrel of the European Brent mark to $77.82 with a fall of 1.11%, while US West Texas was down 1.48% at $72.78.
Meanwhile, the Eurodollar sees the dollar gain following the US jobs report, with the correlation between both currencies falling in favor of the US dollar by 0.787% and At the end of the week it is 1.0787 units.
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