Friday, July 1

The Ibex 35 tries to shore up the 8,800 thanks to tourism and banking

The IBEX 35 today extends the Christmas rally, which usually lasts during the first two days of the new year, and consolidates the rises above 8,800 points.

Specifically, the main Spanish stock index it now rises 0.55% to 8,809 points. Within the IBEX 35, the best is for IAG (Iberia), which rises more than 5% to 1.8895 euros, followed by Siemens Gamesa, with a sum of 3.39% at 21.66 euros and the third it is Banco Sabadell, which rises 3.01% to 0.6160 euros.

The rest of the banking sector is also green: Banco Santander increased 1.81%, Caixabank added 1.74%, BBVA 1.60% and Bankinter increased 0.85%.

On the negative side, the biggest falls were for Cellnex, from 2.33% to 49.56 euros, Grifols A cut 1.82% from 16.4350 and Ferrovial fell 1.19% from 27.39.

Today it is known that Iberdrola maintains the fight for PNM and is given until 2023 for its purchase. Specifically, and according to a statement sent to the CNMV, “Avangrid, a company controlled 81.5% by Iberdrola, has communicated to the Securities Exchange Commission the agreement reached with PNM to extend the expiration of the merger contract signed by both companies until on April 20, 2023, extendable by agreement of both parties under certain circumstances for an additional period of three months. Likewise, the parties have prepared on January 3, 2022 before the Supreme Court of New Mexico the appeal against the resolution of the New Mexico Public Regulation Commission dated December 8, 2021 rejecting the voluntary agreement signed between Avangrid, PNM, some of its subsidiaries and certain third parties presented within the framework of the authorization procedure of the merger operation between PNM and Avangrid “. In the first minutes of this conference, Iberdrola shares lost 0.29%.

ACS has agreed to deliver a flexible dividend in which shareholders can choose between receiving new shares in the company or receiving a payment of 0.473 euros per share in cash on February 1. The proportion of rights and shares to receive in the case of choosing the first option will be communicated to the market on January 11. ACS shares are up 1.10% this morning.

In the Continuous Market, the greatest increases were for Tubos Reunidos, of 8.11%, Clinica Baviera added 7.48% and Reig Jofre increased 5.59%. On the negative side, GAM dropped 3.33%, Miquel Costa dropped 3.20% and Renta 4 fell 2.44%.

Oryzon Genomics has received authorization from the Serbian Agency for Medicines and Health Products to initiate the Serbian arm of PORTICO, a Phase IIb clinical trial with vafidemstat in Borderline Personality Disorder. Oryzon shares add 1.24%.

All this in a day in which the attention will be on the OPEC + meeting, a cartel that includes the OPEC countries and their allies, led by Russia, in which it will decide if it is necessary to make any adjustment in the pumping of crude in the face of the impact of omicron on the economy. Yesterday it emerged that the OPEC + Joint Technical Committee, in the report it produced after its meeting on Sunday, was quite optimistic about the potential impact of the Omicron variant of Covid-19 on global oil demand, noting that it expects That this is limited and temporary, which is why, most likely, today the OPEC + oil ministers choose to keep their roadmap unchanged, which would mean a new increase in their joint production of 400,000 barrels per day for the current month.


Spain Manufacturing PMI (Dec): 56.2 current vs 56.2 forecast and vs 57.1 previous.

The Ministry of Inclusion, Social Security and Migrations of Spain is studying a gradual increase in the maximum contribution bases of 25% in the next 25 years. Therefore, the part of the highest salaries that it would contribute to Social Security would go from 48,480 euros, this year, to 61,000 euros in 2050.

Economic experts point out that 2022 may be the year of the recovery of the economy and the business fabric of Spain if the European funds “Next Generation EU” are properly implemented and global risks are managed, although they have warned that the uncertainty “will not disappear”.

The consumer confidence in Spain it fell -3.3 points last December in relation to the previous month, to stand at 81.3 points, but rose +23.7 points on average in 2021, thus exceeding the figure for 2020, the first year of the pandemic, Although not that of the years prior to the arrival of the Covid, according to data published by the Center for Sociological Research (CIS).

The agency Moody’s will be the first among the four large risk rating agencies to examine this year the Spain rating, which managed to keep its solvency score unchanged in 2021, despite the rebound in activity being clouded in the second half of last year by escalating inflation and supply problems, as well as uncertainty due to new waves of infections.

The car registrations in the Spanish market stood at 859,477 units in 2021, which represents an increase of + 1% compared to the 851,210 units in 2020, but 32% less than the 1.26 million units in 2019, due to the crisis derived from the COVID-19 and the shortage of microchips.

The Minister of Finance, María Jesús Montero, assured yesterday that there is budgetary margin to extend the reduction of the electrical taxes beyond April if necessary, if high energy costs continue in the wholesale market.

Other markets

The first session of the 2022 stock market exercise yesterday had a clear protagonist: the bonds. Very strong drop in the price level and rebound in profitability levels.

This tuesday morning Europa also opens in green. The German DAX added 0.64% to 16,122 points, the London FTSE 100 (closed yesterday) rose 1.30% to 7,481, the CAC 40 advanced 1.23% to 7,306 and the Euro Stoxx 50 wins 0.96% in the 4,373.

The asian bags They were firmer this morning after Wall Street’s all-time highs on their first trading day of 2022, despite concerns that the widespread omicron variant of COVID-19 could slow the global economic recovery.

In this market, the Asian one, it should be noted that the activity of its factories It grew in December as companies took it easy on the rise in global cases of the new omicron variant of the coronavirus, although persistent supply constraints and rising input costs clouded prospects for some economies.

In China, the manufacturing industry advanced in December at its fastest pace since June, driven by the production growth, according to the purchasing manager index (PMI) published today by the private newspaper Caixin. In the last month of 2021, the indicator reached 50.9 points, a whole number more than in the previous month (49.9).

In Wall Street New records were experienced yesterday in the Dow Jones and the S&P 500 to start the year. Specifically, the DOW JONES Ind Average rose 0.68% to 36,585.06 points, the S&P 500 stood at 4,796.56 with an advance of 0.64% and the NASDAQ 100 rose 1.11% to the 16,501.77 units. This Tuesday, lThe futures of the main American indices continue to rise and show increases of between 0.10 and 0.17%.

The oil prices move slightly lower ahead of a meeting today where major producers are expected to maintain their plans to increase supply in February, as rising COVID-19 cases have yet to lead to lockdowns in major countries fuel consumers. Specifically, oil futures Brent are trading 0.79% higher at $ 79.60 a barrel, while West Texas rallies 0.80% at $ 76.67.

Regarding the OPEC meeting, all the sources consulted by Bloomberg, FT and other media suggest that OPEC will continue with its roadmap and will make it official this Tuesday the increase of 400,000 barrels of production that will be put into circulation from March.

In the cryptocurrency market, Bitcoin rises 0.62% to $ 46,742.1.

At by EUR / USD, the euro is trading flat at 1.1293 greenbacks.

Agenda of the day

The Spanish Ministry of Labor publishes monthly unemployment report for December. Spain registers the lowest unemployment level in a month of December since 2007. The number of unemployed in Spain fell by 76,782 in December compared to November, equivalent to 2.41%, leaving the number of people without work at 3.1 million, data from the Labor Ministry showed on Tuesday.

The INE publishes the monthly report on the entry of tourists into Spain for November: Foreign tourism in Spain soars in November, still well below the levels of 2019.

In Europe, Germany will publish the retail sales data for November together with the unemployment variation. The prospects for German retail sales are clouded despite the rise in November. Germany’s unemployment rate fell one tenth in December to 5.2%.

France’s CPI rises 3.4â ???? â ????% â ???? â ???? â ???? â ???? â ???? â ???? â ???? â ???? â ???? â ???? â ???? â ???? â ???? in December, below expectations.

In the US, the data to follow will be the Redbook index, the manufacturing PMI and weekly crude oil reserves.

In addition, this Tuesday OPEC and Russia debate the future of oil in a meeting with omicron and inflation as protagonists.

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