Jul 24. () –
The Ibex 35 was trading practically flat in the mid-session, with a slight rise of 0.03%, which allowed it to maintain the 11,200-point mark, pending the corporate results that were announced early in the morning.
Before the market opened, Banco Santander informed the National Securities Market Commission (CNMV) that it obtained a net profit of €6,059 million in the first half of 2024, which is equivalent to an increase of 15.6% compared to the same period of the previous year.
Endesa, for its part, recorded a net profit of 800 million euros in the first half of the year, which represents a 9% decrease compared to the same period last year.
For its part, Iberdrola obtained a net profit of 4,134 million euros in the first half of the year, which represents an increase of 64% compared to the same period of the previous year, driven by the multi-million-dollar capital gains recorded with the sale of assets in Mexico. The company has decided to once again improve its forecasts for 2024, in which it is aiming for new record profits.
For its part, Acerinox obtained a profit attributed to the parent company of 114.48 million euros in the first half of the year, which represents a decrease of 58.7% compared to the 277.68 million in the same period of the previous year, penalized by the effects of the strike at Acerinox Europa and by the complicated situation in the stainless steel market.
In the US, Renta 4 analysts highlight the publication of results yesterday, at the close of trading in Europe, by the companies Alphabet (Google) and Tesla, which failed to convince investors and closed with falls on the stock market of 2% and 8%.
“Alphabet warned that patience will be required to see more concrete results from its investments in AI, while Tesla missed consensus earnings per share (EPS) forecasts for the fourth consecutive quarter, with sales growing at the expense of price cuts with consequent pressure on margins, and additional delays in expected new models,” the experts point out.
At the macro level, the preliminary PMIs for July were published today, showing that growth in private sector activity in the Eurozone slowed significantly, reaching a point of near stagnation.
In this context, the Madrid index stood at 11,216.1 points at mid-session on Wednesday, with Acerinox as the highest gainer (+4.11%). Behind were Santander (+1.77%), IAG (+1.33%), ArcelorMittal (+1.17%), Fluidra (+1.17%) and Endesa (+0.89%). On the other hand, the biggest decliners were Rovi (-1.14%), Merlin (-0.97%), Inditex (-0.94%), Sacyr (-0.84%) and Enagás (-0.73%).
The main European stock markets were down 1.20% in Paris, 0.79% in Frankfurt, 0.53% in Milan and 0.25% in London.
The price of a barrel of Brent crude oil, the benchmark for the Old Continent, rose by 0.80% to $81.66, while the price of Texas crude oil stood at $77.64, up 0.88%.
On the currency market, the euro’s exchange rate against the dollar fell by 0.11% to 1.0842 greenbacks, while on the debt market the interest rate on 10-year Spanish bonds rose to 3.240%, with the risk premium at 80 basis points.
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