MADRID 7 Oct. () –
The Ibex 35 closed this Monday with an increase of 0.5%, reaching 11,717.5 points – a level it lost a week ago – in a day with few references and encouraged by the rise in banking and Inditex.
Renta 4 analysts point out that the labor data released last Friday in the United States, shortly before the stock market close in Europe, show a “resilient” labor market, which leads the market to discount a rate cut of 25 points basics by the Federal Reserve (Fed) and not 50 points.
Furthermore, the context continues to be marked by geopolitical tensions in the Middle East derived from the conflict that began just a year ago between Israel and Hamas.
Going into the detail of this Monday’s ‘macro’ agenda, it has barely been known that the volume of retail trade registered an increase of 0.2% in the eurozone in August and 0.3% in the European Union as a whole, compared to zero growth and the 0.1% increase of the previous month, respectively, as reported by Eurostat, the EU statistical office.
For its part, the Sentix index of investor confidence in the eurozone has improved in October above what the market expected, although it remains in negative territory.
Likewise, it has been published that new orders from German factories registered a decline of 5.8% last August compared to the previous month, when they had increased by 3.9%, as reported by the Federal Statistics Office ( Destatis), which represents the biggest drop since January. In year-on-year terms, the drop has been almost 4%.
However, the most relevant data this week will be the CPI data for September in the United States; The market expects it to remain practically stable, at 2.3% – compared to 2.5% the previous month -, still above the Fed’s inflation target, but it will serve as a guide to the forecasts for drops in US central bank rates.
In the business sphere, there has been a exchange of statements between the executives of BBVA and those of Banco Sabadell in relation to the hostile takeover underway between both entities.
The CEO of BBVA, Onur Genç, has considered that the National Markets and Competition Commission (CNMC) will impose some ‘remedies’ (commitments and/or conditions) to its merger project with Banco Sabadell similar to those decided in the two recent merger processes in the Spanish market, the merger of CaixaBank with Bankia and of Unicaja with Liberbank.
For his part, the CEO of Banco Sabadell, César González-Bueno, has considered that the operation proposed by BBVA to acquire the Catalan entity “is not going well”, while defending Sabadell’s ability to generate profits and dividends. above its competitors.
In parallel, the CEO of CaixaBank, Gonzalo Gortázar, has indicated that he does not believe that the takeover bid that BBVA has launched for Banco Sabadell is “misleading” these two entities, which is why the strong competition in the sector would continue and there would be no a “special” opportunity to earn quota.
On the other hand, the water and energy group Cox announced this Monday its intention to list on the Spanish Stock Exchanges through a public offering of shares (IPO) aimed at qualified investors, as reported by the company, which A little over a year ago it joined the productive businesses of the Abengoa group after winning its contract in an auction.
Thus, given this situation, the greatest advances at closing have been those of Banco Santander (+1.79%), Naturgy (+1.55%), Ferrovial (+1.53%), Banco Sabadell (+1.33 %), CaixaBank (+1.09%), Inditex (+1.08%), BBVA (+1.05%) and Repsol (+0.89%).
It should be noted that today was the last day to be able to receive the dividend of 0.29 euros that BBVA will pay on October 10 and that Sabadell shareholders would also receive if the takeover bid went ahead.
Regarding the falls, the largest have been those of Cellnex (-1.85%), Merlin (-1.52%), Rovi (-1.29%), Fluidra (-1.03%), Colonial ( -0.9%) and Acciona (-0.9%).
Most of the main European stock markets closed with gains: London added 0.28%; Paris 0.46% and Milan 0.66%, while Frankfurt has been the exception by subtracting 0.09%.
On the other hand, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 3.4% at closing time in Europe, to 80.7 dollars, while that of Texas stood at 77.05 dollars, 3.6% more.
In the foreign exchange market, the price of the euro against the dollar was stable at 1.0978 ‘greenbacks’, while in the debt market the interest required on the 10-year Spanish bond closed at 3.016% after adding half a tenth, with the risk premium at 76.3 basis points.
The troy ounce of gold fell 0.3% to $2,645, while bitcoin rose 1.8% to $63,750.
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