Friday, December 3

Renewables drive the IBEX 35 towards the 9,000 point target

Listed companies in the renewable sector push the IBEX 35 to 9,000 points this Tuesday, the barrier that has resisted the selective in recent weeks.

The index advanced 0.5 percent and placed around 8,980 points after the decline of the previous day, in which it threatened to fall below 8,900 points.

In this context, the new auction of renewables that the Government will carry out this Tuesday encourages the strong increases in the values ​​of the sector.

The Ministry for Ecological Transition will try to place 3,300 megawatts (MW) of wind and photovoltaic energy to “directly reduce the price of electricity” after the rise in the rate of electricity, which returned to record highs in the last week.

Iberdrola leads the IBEX 35 session

It is precisely the same listed companies that set the electricity tariff that collect profits on the stock market from the renewable auction.

Between them Iberdrola, whose shares lead the earnings of the IBEX 35 with a rise of 2 percent. Follow him Solaria, whose titles are revalued another 2 percent.

Behind are another of the largest Spanish energy companies, Endesa, and the wind turbine manufacturer Siemens Gamesa, which are up 1.6 percent.

Arcelormittal, which last week paused its production in several plants in Europe due to high electricity rates, rises 1.3 percent due to the possible reduction in prices that the auction would generate.

The actions of the technology Indra, for their part, they add up to more than 1 percent.

Good behavior also of banks, with entities such as Caixabank, Bankinter or Santander with increases of 1 percent after the The Bank of Spain announced this Tuesday that the profitability of the bank in the third quarter stood at historical highs of 10.86 percent.

IAG chains two sessions down

On the loss side, the IAG airline group has had two sessions of heavy losses and its shares fell 2.5 percent, ranking as the red lantern of the day. Losses also in other tourism values ​​such as hotels Meliá O Amadeus, which fell 1.5 and 0.5 percent respectively.

The pharmaceutical Grifols Nor is it spared from the burning of shares and fell 1.7 percent.

Naturgy, immersed in the resolution of IFM’s takeover bid (takeover), falls more than 1 percent and closes the quota of the biggest losses.