Markets

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SpaceX’s roadshow gets underway: automatic passive demand for index funds could reach $20 billion

Beyond the focus on developments in the Middle East conflict, investors will be turning their attention this Thursday to the launch of SpaceX’s roadshow. Elon Musk’s company aims to raise around $75 billion in what will be the largest initial public offering in history. Report by Renta 4 European markets open lower (Eurostoxx futures down 0.4%, S&P futures down 0.4%, Nasdaq futures down 0.5%) after Wall Street yesterday broke its…


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Ibex 35 down 0.5%, Inditex—up 1.5%—and its quarterly results provide main support

Reported by Álvaro Romero Mateu European stock markets closed with moderate declines, influenced by the rise in oil prices and caution over the lack of progress in negotiations between the US and Iran. The IBEX 35 fell by 0.5%, the EuroStoxx 50 dropped by 0.9% and the STOXX 600 fell by 0.6%. In Asia, the session was mixed. In Japan, the TOPIX rose by 1.8% and China’s CSI 300 advanced…


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Alphabet preparing massive capital raise of $80 billion

Reported by Consejeros Editorial Team The company has announced that it will raise $80 billion, which it will use to fund its ambitious spending plans in artificial intelligence, ranging from the development of advanced models to the construction of the necessary infrastructure. The $80 billion, representing 1.7% of the company’s total market capitalisation, will be broken down as follows: $15 billion in a share issue; $15 billion in a 3-year…


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41 stocks with “Buy” recommendation and five with “Sell” in June Consensus

Analysed by Patrivalor The stock market valuation of the Spanish companies analysed stood at €1,172,016.71 million at the end of May 2026, representing an increase of 5.48% compared to the end of 2025. The weighted average target price is €11.11, down by 8.8% compared to the previous year, whilst the weighted average market price is €10.78 (down by 10.7% compared to the previous year). Therefore, the weighted average discount between…


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Competition authority calls on government to ensure Aena reduces airport charges until 2031

Report by Renta 4 The Spanish Competition and Markets Authority (CNMC) has published its proposal for the upcoming regulatory period 2027–2031, DORA III. This proposal forecasts an average growth in air traffic of 2.2% (compared to 1.3% forecast by Aena and 3.6% forecast by the airlines), which would result in traffic of 366.7 million passengers by 2031, in line with our forecast. Furthermore, the regulator proposes a lower growth in…


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Inditex posts profit of €1.375 billion in first quarter (up 5.4%) and proposes dividend of €1.75

EBITDA grew by 7.3% to €2.568 billion, whilst EBIT increased by 7% to €1.756 billion and pre-tax profit also rose, specifically by 5.5%. Reported by Consejeros Editorial Team Inditex presented its first-quarter results on Wednesday, closing the period with a net profit of €1.375 billion, representing a 5.4% increase compared to the same period last year. The company has also announced that it will propose to the Annual General Meeting…


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Average return on investment funds in May stands at 1.5%, compared with 3.3% for Ibex 35

Reported by Consejeros Editorial Team According to provisional data released this week by Inverco, the Spanish investment fund association, these funds increased their assets by €7.864 billion in May, reaching a total of €473.383 billion. Meanwhile,the average return recorded by the funds in the fifth month of the year was 1.5%, which contrasts with a monthly return of 3.3% for the Ibex 35. According to the Inverco report, assets in…


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Stock market illusion following rally in Soitec and STMicroelectronics

Soitec (up 758%), Samsung up (150%), STMicroelectronics (up 167%)… European technology has nothing to envy its global competitors. By Enguerrand Artaz The AI revolution continues to stimulate markets and sustain economic growth. However, investors have gradually been shifting their focus to gain exposure to this phenomenon. Thus, they have moved away from the tech giants that have been so popular for years—the famous Magnificent Seven—to invest in their suppliers, particularly…


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Telefónica acquires LineoX from Asterion Industrial Partners fund for €90 million

Report by Renta 4 Telefónica (TEF) has reached an agreement to acquire LineoX from the Asterion Industrial Partners fund. LineoX is one of Spain’s leading rural radio link operators and provides critical infrastructure for mobile connectivity. Telefónica sold LineoX to Asterion in 2020 through a carve-out transaction. Since then, Asterion has been developing LineoX independently, with Telefónica as its anchor client. The transaction value is estimated to be around €90…


Mapfre

Mapfre’s major risks division to lead business’s international expansion in Europe and US

The Spanish insurer has embarked on a new phase of international expansion focused on the European and US markets. The strategic plan will be led by Mapfre Global Risks,the division specialising in solutions for complex projects such as satellites or major civil infrastructure. This unit—which in 2025 contributed 5% of the group’s profit and 6% of its total premiums—plans to centralise and deploy all its underwriting and management capacity for…