The Stock Market, live | The Ibex returns its launches against the wave of business results | Financial markets

2024-07-24 08:38:26

What does the Ibex 35 do?

The negative sign returns to the Ibex 35, which fell 0.3%, after advancing 0.62% yesterday, driven by Banco Sabadell after announcing its results and returning to 11,200 points. Today the flood continues accounts with Banco Santander, Iberdrola, Endesa and Repsol, among others.

Which values ​​rise or fall the most?

The values ​​that increase the most are:

Acerinox: 2.4%

IAG: 1.2%

Santander: 0.9%. The entity has earned 6,059 million between January and June, 16% more than in the same period of the previous year.

Endesa: 1.2%. The second largest electricity company in Spain recorded a net profit of 800 million euros in the first six months of 2024, 9% less than the amount registered in the same period a year earlier. The decline is largely in response to the sharp drop in the wholesale price of electricity, which has become cheaper by 56% year-on-year.

Those who fall the most:

Merlin: -2%

Pitch: -1%

Answer: -0.68%. The oil company provided a net profit of 1,626 million euros in the first six months of the year. It is 14.5% more than in the same period of 2023, when it earned 1,420 million. The adjusted result, in turn, was 2,126 million, 21.8% less.

What do the rest of the stock markets do?

Wall Street closed slightly lower. The Dow Jones lost 0.14%; The S&P 500 fell 0.16% and the Nasdaq also lost 0.06%.

Keys of the day

• Industrial prices fell 3.5% last June compared to the same month in 2023, compared to the 4.6% reduction they had in May, as reported by the National Institute of Statistics (INE) this Wednesday. With the year-on-year decline in June, inflation in the industrial sector is experiencing 16 months of negative rates.
• In Europe comes the day on which the preliminary July Purchasing Managers’ Indices (PMI) of the eurozone will be published. Consumer confidence GFK i Germany of August and the producer price index (PPI) of our country in June.
• Similarly, in the United States, PMI indicators are expected, as well as mortgage applications, new home sales and wholesale inventories.
• In Asia, the manufacturing and services PMI is also forecast Japan.
• The business results campaign is progressing in Spain. They present their Banco Santander accounts, IberdrolaEndesa, Repsol, Acerinox, Sacyr, Rovi, Metrovacesa, Logista, Tubacex and Línea Directa.
• In the United States, Tesla reduced its profits by 45% in the second quarter, to $1,478 million.

What do the analysts say?

Steven Bell, chief EMEA economist at Columbia Threadneedle Investments: “With Joe Biden exiting the presidential race and Vice President Kamala Harris expected to succeed him as the Democratic nominee, polls may show near-term improvement for the Democrats. However, the financial markets will continue to see Trump as the likely winner, with a good chance of sweeping the House and the House Senate. AO that a Trump presidency would mean corporate tax cuts, deregulation, as well as rolling back the climate change agenda and higher domestic tariffs. A more aggressive foreign policy is also expected, especially against China, which could also be bad news for emerging markets. It is also likely that there will be less aid to Ukraine and less support for NATO. The impact on the dollar is unclear, but the underlying context and outlook for Trump 2.0 appears to favor stocks. But it’s really a case of wait and see.”

Franco Macchiavelli, independent market analyst: “In Spain, regarding the results season for the first half of 2024 for Ibex 35 companies, with a special focus on banking and the recent 25 basis point reduction in interest rates by the ECB, the net interest margins of bank. could come under a little pressure down. However, some banks could benefit from an increase in demand for credit due to lower funding costs. Many banks have taken advantage of the rise in rates to better consolidate their stockpiling reserves and accounts, and this is reflected in the Ibex, which has a cumulative rise of more than 50% since the reductions set in October 2023, precisely thanks to the banking concentration of the Spanish option. I expect results to continue to be positive, but with less guidance going forward due to the market context and rate cuts.”

What is the evolution of debt, currencies and raw materials?

The euro falls slightly to $1.0865.

A barrel of Brent, a reference in Europe, exceeds $81 a barrel

The yield on Spain’s 10-year bond rises to 3.244%.

Quotes

STOCK EXCHANGE – CURRENT – DEBT – INTEREST RATES – RAW MATERIALS

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