Monday, July 4

Why did Aena, IAG and Amadeus fall on the Ibex if the omicron news today is positive?

Black Day this Wednesday, December 8, for the tourism sector of the IBEX 35. And it is that, despite the good news about the omicron variant when the first studies in South Africa and Sweden on the new strain were known, which show that the doses of boosters of the Pfizer vaccine are effective, it is precisely three values ​​of this sector that at the moment lead the falls of the Spanish selective.

Why the falls today?

We have the answer in a fundamental analysis of the tourist values ​​of the Ibex 35 that this week was carried out by the analyst María Mira. “This type of company suffers a lot from all the news related to the pandemic: when there is news about some variant, about an increase in cases or about possible restrictions, they are very accused in the market. Later, when that information is rationalized, they are recovered” . But, according to María Mira, if we look more at the medium or long term, “the market is also discounting the difficulties that these types of companies such as airlines and hotels are going to have for a long time.”

As the pandemic drags on, punishment for these companies continues. And now, in the face of Christmas, a time when there are usually more trips and displacements, restrictions in some countries once again penalize the sector. The market is already discounting that “it will not be a recovery in ‘V’ far from it, because their accounts and their businesses are very affected and they will need much more to recover”.

If we look one by one at the trio of most bearish values ​​of the Ibex 35 today, the first place is for Aena, which yields above 2.1% and has reached 131.25 euros intraday, a price with the one that is a little closer to the 127.15 euros where its medium-term support is located. Also, if you look at its closing price last November 25 on the stock market, at 140.80 euros, since then Aena’s titles have lost about 7%.

The falls of Aena today come on a day in which it has also suffered a new downward valuation by the brokers. Specifically, they have been the analysts of HSBC, which have cut the target price of Aena shares, from 167 to 151.12 euros today. With this, and despite everything, HSBC continues to see potential in the airport manager, specifically 15% for the next twelve months.

Two other stocks in the tourism sector, IAG and Amadeus, fell sharply today.

The shares of the holding company that groups Iberia, British Airways or Aer Lingus fell 2.21% by mid-morning and are listed on the Ibex 35 at 1.63 euros, a figure that represents a reduction of 10.9% compared to the price of November 25 (at 1.83 euros) -just before Ómicron caused a rout on the floor-.

For its part, Amadeus today loses 1.86% and has reached an intraday price of 58.04 euros. If we compare it with the 61.34 at which it traded on November 25, the decrease was 5.4%

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