Friday, July 1

Four values ​​that can become part of the Ibex 35 today

About to close this 2021, today’s day in which changes could occur in the IBEX 35. And it is that the Technical Advisory Committee will review the composition of the selective at the close of the session this Thursday, and there are several listed ones that they are very pending of the decision.

First, because the CAT, the body in charge of determining the composition of the Ibex 35, meets four times a year, once a quarter, but traditionally it is the December and June meetings that present the great news. And second, because, with the figures on the table, there are several companies with options to enter the main Spanish stock index to the detriment of others that could be excluded.

But, before naming names, what does it take to be part of the Ibex 35?

Requirements to be part of the Ibex 35

The factors that the Committee reviews to decide whether or not to incorporate a security are:

Liquidity: that is, the trading volume in euros in the order market and, in addition, it will take into account the quality of said trading volume.

Stability: The Technical Advisory Committee will assess, taking into account the use of the Index as an underlying in the trading of derivative products, a sufficient stability, as well as an efficient replica of the same. The publication of the shareholder remuneration policy, dates, amounts, variations …

Capitalization: To include a security in IBEX 35®, its computable average capitalization in the index must be greater than 0.30% of the average capitalization of the index during the control period. The Technical Advisory Committee may therefore make the decision to exclude a component security of IBEX 35® in its ordinary reviews, if its capitalization no longer meets this criterion.

The CAT may also include in the Selective Index a value that has been incorporated into the SIBE and whose characteristics recommend its presence in the Ibex 35®. In this case, you will not have to wait for you to meet the necessary requirements in the control period, and a minimum requirement is established to fulfill a number of trading sessions of at least one third of the control period, unless your floating capitalization calculation in the IBEX 35® index is among the top twenty of the same.


With this, and if we stick to the opinion of analysts, the bet is clear: Laboratorios Rovi, Sacyr, Acciona Energías or Logista could substitute securities such as Viscofan, CIE Automotive or Almirall in the review of the components of the main Spanish stock index .

If we take into account the assessment of Bankinter’s analysis team“Sacyr is once again the best-positioned security in terms of volumes, although its capitalization is slightly below the minimum required.” For its part, Laboratorios Rovi follows closely in volumes and more than meets the minimum capitalization requirement. “

“For this reason, the Committee could decide on this occasion to include one of these two values ​​to the selective, especially since the CAT usually implements changes in June and December. Regarding possible exits, the members with the lowest volume traded are Viscofan, CIE Automotive or Almirall “, they point out.

For their part, “Melia Hotels and PharmaMar fail to comply with the minimum capitalization requirement, but their trading volume is clearly higher than that of potential candidates,” they explain from Bankinter.

Acciona Energías Renovables, one of the 35 companies that moves the most money on the market, She has become another candidate for many experts with options to join the Ibex 35 before the end of the year. It is true that Acciona’s renewables subsidiary debuted on the stock market on July 1 and that the committee evaluates the data of the last six months (Acciona has five), but if we take into account the point of the requirements mentioned above (it is may include a security even though it has not yet been listed for that minimum period if it is considered advisable to include it), Acciona Energía would have no impediment, since the rest of the requirements are met.

Finally, Logista is another of the values ​​that awaits at the gates of the Ibex 35. The distribution company had a somewhat larger negotiation than Viscofan in the last six months. In addition, its capitalization beats the minimum of 0.30% of the required Ibex. If we look at your business, the increase in online commerce will continue to blow in your favor, along with its diversification in areas such as pharmacy.

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