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Date: 2021-05-08 01:18:45
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The IBEX 35 closes above 9,000 points a session marked by the results of various securities listed in the Spanish selective as well as by the employment data for April from the US.
Specific, the Ibex 35 ends the day on Friday with a rise of 0.86%, to 9,059.20 points. The selective of the Spanish stock market closes its fourth consecutive week of advances, with a cumulative rebound of 2.77%, at highs in February 2020.
“After the financial sector publishes results, the Ibex has improved and has broken levels, although we miss that the break is with more volume and strength, which gives more reliability to the upward trend”, indicates Luis Francisco Ruiz, director of analysis of investment strategies.
“Any short-term correction or pullback to levels that were previously resistance and now supports are entry levels. The 8,740-8,691 area is a good place to consider long or long positions if we think that this uptrend may continue. The stops would be below 8.426-8.274 ”, he adds.
Solaria leads the climbs of the Ibex 35 today, with an advance of 5.58%, in a session marked by the presentation of business results, ahead of Fluidra and PharmaMar, which gained 4.19% and 4.01%, respectively.
IAG registers losses after exceptional items of 1,067 million euros after the impact of the covid, Net debt rises 18.5% to 11,564 compared to 9,762 in the same period of the previous year. The company claims to be ready to fly but demands action from governments through unrestricted travel corridors, digital vaccination certificates and increased personnel at the borders.
Ferrovial recorded net losses of 86 million euros in the first quarter of the year, which represents a reduction of 22.5% compared to the ‘red numbers’ of 111 million euros recorded in the same period of the year, with part of the business still affected by the health crisis.
Acciona obtained a net profit of 97 million euros in the first quarter of the year, which represents an increase of 24% compared to the same period of the previous year, thanks to the boost in its energy business, although the infrastructure business also showed a positive performance despite the pandemic.
Amadeus lost 95.3 million euros in the first quarter of the year compared to the benefit of 117.8 million that was recorded a year earlier, due to the impact of the health pandemic and the consequent restrictions on travel in many parts of the world.
Cellnex has recorded losses of 43 million euros in the first quarter of 2021, compared to 30 million red numbers in the same period of 2020 (43.3% more), due to the costs of growth operations, while that the group’s income has grown by 41%, to 506 million.
On the other hand, Berenberg analysts have improved Fluidra’s target price to 35 euros per share, from the previous 30 euros.
Ibex 35 market consensus
Potential for all Ibex 35 shares in May. Discover the market consensus for all securities.
Among the banks listed on the Spanish stock exchange, it is worth noting that HSBC experts have raised Caixabank’s target price to 2.7 euros, from the previous 2.6 euros; while Barclays analysts set it above, at 2.9 euros, despite reducing it from 3 euros per share.
Acerinox surpasses medium and long-term resistances of 12.135, like ArcelorMittal, which is placed above the 26.63 euro zone. Deutsche Bank analysts have raised ArcelorMittal’s price target from € 30 to € 32. In addition, Citi sees a potential in the company of more than 32% and raises its target price to 36 euros per share, from the previous 34.
Only three values of the Ibex 35, three large companies, concluded on Friday in red. Thus, Telefónica yields 1.56%; Inditex, 1.16% and Banco Santander, 0.08%.
In the Continuous Market, the biggest rise is that of Ecoener, which rose 13.35%; while the greatest decrease is that of Codere, which cuts 6.68%.
Outside the Ibex 35, the rise in Gestamp also stands out, of 10.86%, after reporting that it obtained a net profit of 51 million euros between January and March of this year, which represents more than tripling (+ 264%) its result of the same period of 2020, when it earned 14 million euros, and an increase of 24% compared to 2019.
The risk premium in Spain rises to 70.35 basis points, while the interest of the Spanish 10-year bond advances to 0.484%.
The Ibex 35 and the rest of the main European stock exchanges end in positive a day marked by the publication of the employment data for April in the US. The Dax rises 1.34%; Cac 40, 0.45%; the FTSE 100, 0.76%, and the FTSE Mib, 0.48%. The Euro Stoxx 50 advanced 0.87%.
The U.S. Department of Labor said on Friday that 266,000 jobs were created in April, below expectations, compared to a figure of 770,000 in the previous month. A Reuters poll of 90 economists had forecast job creation to rise to 978,000.
The US unemployment rate rose to 6.1% from a level of 6%, compared to a forecast of 5.8%.
Following the employment report, US interest rate futures traders cut their estimates of rising funding costs at the Federal Reserve next year. Now there is a less than 50% chance that the Fed will raise short-term interest rates by 25 basis points in 2022.
After a tepid open, the main Wall Street indices step on the accelerator at the European close and, with the prospect of the Fed holding rates low for longer, the S&P 500 hits new all-time highs.
US employment data and the forecast of lower rates for longer weigh on the dollar and the euro is exchanged for 1,215 greenbacks.
In the commodity market, oil prices go up. The benchmark Brent crude in Europe adds 0.34% to $ 68.31 per barrel, while the US West Texas rallies 0.31% to $ 64.90.