Ibex 35

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High probability of a positive fourth quarter: Ibex 35’s 7% cushion

Renta 4: We continue with positive statistics, this time suggesting a positive fourth quarter, as we can see in the two charts below. The first chart looks at the occasions when a momentum indicator registers certain positive parameters, noting that 2, 6 and 12 months later there have been positive performances by the S&P500. The second shows that when the S&P500 has not recorded monthly declines of more than 5%…


bolsa espana reloj

Ibex 35 surprises with better performance, breaking worse trends of previous years against peers

Renta 4 | The new annual highs of the Spanish selective index, breaking the 11,470 point zone, have come hand in hand with a new high in its relative performance with respect to the Eurostoxx 50, a performance that, since October 2022, has been setting new highs, breaking the downward trend since 2009: But the better tone of the IBEX 35 is not limited to the main European index. If…


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Spanish stock market (PER 14x) trades at a significant discount to other European indices (Eurostoxx PER 16.2x)

Deutsche Bank | The Ibex trades at a significant discount to other European indices, with a 12-month PER (Price Earning Ratio) of 14x, compared to 16.2x for the Eurostoxx. The high weight of the financial and electricity sectors also means that the Spanish selective index has a particularly attractive 12-month expected dividend yield of over 5%, against the Eurostoxx’s 3.9%. Until the end of 2023, the selective Ibex index had…


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Santander and BBVA drop between two and three points on stock market after new banking tax announced in Italy

Intermoney| Yesterday was a bad day for the Ibex (-0.6%) which saw the effect of the new tax on banks in Italy also felt in the Madrid selective, which, however, at least maintains an advance in 2023 of +13%, in line with the EuroStoxx. Among the stocks that suffered the most were Santander and BBVA, which dropped between 2 and 3 points. Unicaja and Sabadell also had a day to…


bolsa espana reloj

Ibex 35 closes week at 9,415 points after dropping 0.37% on Friday

Nicolás López (Singular Bank) | Friday’s session closed in Europe with a mixed tone and slight variations in the main stock market indices. After the rises of the last few weeks, which have brought the indices back to their highs before the banking crisis, investors have been cautious in general as they wait for new references. In particular, the results season that has just started and the central banks’ meetings…


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Only 3% of Ibex 35 companies have female CEOs

F.R. | Ibex 35 companies have only 3% female CEOs, 9% female board chairwomen and 19% female presence in senior management, according to the Barometer of Gender Diversity in Governing Bodies in Europe, based on the analysis of the main stock market indicators of 16 European markets and the Stoxx600 as of January 1st this year, carried out by ecoDa, the European Federation of Directors’ Organisations to which the Spanish…


Redeia

Redeia: Spain and France to pay extra cost of Bay of Biscay interconnection

Norbolsa : Both countries reached an agreement yesterday to share the cost overruns in the construction of the Bay of Biscay electricity connection line, finally reaching €2.85 billion. In 2017, the cost was estimated at €1.75 billion, but has now risen to the figure indicated above. At that time, it was also agreed that Spain would pay 62.5% of this amount, while France would pay the remaining 37.5%. This distribution…


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Iberdrola: sale of renewables in Spain could be closed in January, Norges most likely buyer.

Sabadell: According to press reports, the sale of 49% of a portfolio of 1,200MW of renewable assets could be closed in January. Norges would be the most likely buyer, although Pontegadea could also be in the final stages of the bidding process. The intention to sell this stake was announced in September and IBE’s goal is to find a strategic partner to help it boost its renewables in Spain. The…


Ibex35

The IASB spares the Ibex an 8.5 billion euros hit to its annual profits

The IASB board, in a close vote and against the opinion of the Spanish government, has rejected the implementation at international level of the straight-line goodwill amortisation method. The rules for the preparation of financial statements do not seem to be the most likely subject to generate major disputes, but the International Accounting Standards Board (IASB) yesterday experienced the closest thing to a drama, according to Expansión newspaper. In a…


Madrid Stock Exchange revision

“The Remuneration Report At Banco de Sabadell Obtained Over 38% Dissent Votes”

“Shareholders and proxy advisors are being very critical of directors’ pay and board composition, as evidenced in voting.” explains Nancy Hameni (Head of Proxy & M&A at Cmi2i) to Fernando Rodriguez. Q- What do you think is most remarkable so far in the 2022 Spanish AGM season ?A- Halfway through the 2022 AGM season, we are seeing executive compensation and board elections as the most prominent trends within the IBEX-35….