Sunday, December 5

The results prevent the IBEX 35 from sustaining the 9,000 points


Iberdrola unofficially opened the presentation of results of the large companies of the IBEX 35 and with its rise of 2.45 percent on Tuesday, it helped the main selective of the Spanish stock market to recover the level of 9,000 points.

The conquest was, as on the last occasions, the flower of a day. This time, behind the loss are the results of other heavyweights of the selective. In this case, Santander Bank and Repsol.

The entity presented results on Wednesday reflecting a solid operating performance that will allow the bank to exceed its profitability objective this year, but investors took advantage of the doubts about commissions, costs and the capital ratio to collect benefits.

The titles were left 2.8 percent at the close of the session dragging the rest of the sector, which is the one that weights the most together with energy. This Thursday the decreases continue, over 1 percent, for the group chaired by Ana Botín and the rest of the bank. Only Sabadell Bank manages to enter positive after also presenting results this day.

Repsol, the biggest decrease after results

A) Yes, the IBEX 35 loses this Thursday about 0.5 percent, below 8,950 points, also weighed down by the accounts presented up to September. As was the case with Banco Santander, Repsol’s business has evolved favorably in the heat of the increase in oil prices and, due to the good business performance, the cash dividend has increased by 5 percent.

On the other hand, investors take advantage of the figures to collect benefits and the value is the one that falls the most after the first hour of trading with a decline of more than 3.5 percent. Follows closely Fluidra, 3.2 percent drop, which has also presented results increasing its sales forecasts for the course.

Therefore, the results are again used by investors to take profits. In the case of Fluidra, it is the star of this year together with Banco Sabadell with an advance of more than 70 percent. Banco Sabadell advances close to 90 percent in the year.

On the profit side, Indra it advances more than 6 percent after improving the guides, which will mean entering profits, and announcing a dividend. What’s more, Siemens Gamesa and Solaria they are up more than 1.5 percent.

Inflation is still out of control

Outside of business results, it has been known in this session that inflation in Spain shot up in the interannual rate to 5.5 percent, pulverizing the forecasts of the market consensus that placed the advance at 4.5 percent.

The price increase, the highest in 29 years, it directly attacks the purchasing power of workers, undermining the profitability of the most conservative savers and damaging the Budgets presented by the Government.

In the rest of the main parks of the Old Continent, a mixed tone will be registered with the CAC rising about 0.4 percent and the FTSE MIB doing the same, 0.2 percent, while the FTSE 100 falls 0.3 percent and DAX 0.2 percent.

Interest on debt falls after the latest adjustments to the ECB and the profitability of the Spanish ten-year bond at times loses the interest of 0.5 percent. In the raw materials market the Brent loses highs below $ 83 and in foreign currency the euro it also loses for the ECB and is trading at the minimum of 1.6 dollar units.

IBEX 35 (IB)IBEX 35 (IB)

-26,20-0,29 %

8.946,10



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