Ibex consolidates to 359,200, Meliá and BBVA lead the advances

Ibex 35 strengthens above 9,200 with an eye on the US

The IBEX 35 rose 0.53% to 9,262.23 in the mid-session. The biggest increases are over 2% for Melia Hotels and 1.76% for BBVA. Also in Green Amadeus, Grifols and IAG. Tourist values ​​rise following the good prospects for a summer that easyjet has presented today.

Only five prices, Unicaja Banco, which lost 0.43%, and Rovi, Inditex, Aina and Iberdrola, which fell less than 0.20%, were in the red.

Media outlets such as Expansión and El Confidential reported that José Vicente de los Mojos, a historical executive in the automobile sector, is the favorite to replace Ignacio Matix as the company’s new CEO.

IAG (Iberia) could be the other star of the season, starting with 17.3 million euros repurchase of shares to pay for the acquisition of Air Europa, Specifically, the airline holding company announced yesterday afternoon to the National Securities Market Commission (CNMV) that it had acquired 9.75 million shares for 17.3 million euros between May 10 and 16, representing 31, the repurchase of 55 4% of the maximum amount authorized for 4 million euros to pay part of the acquisition.

On 9 May, IAG announced a share repurchase program to cover its obligation to deliver shares to Globalia as part of the consideration for the planned acquisition of the remaining 80% of the remaining 80% of the issued share capital of Air Europa, valued at 400 million euros. Did.

Investors will also have to pay attention to Telefónica’s valuation. The Spanish telecoms operator’s results have returned the company to less than four euros per share, while it tables details of its dividend payment in June. Best of all, reduce debt and meet your goals for the entire year. In addition, analysts at Citigroup have raised their target price to 4.2 euros per share from 4.1.

Also relative to analysts’ recommendations, Barclays raises Inditex’s target price from 27 to 28 euros per share.

In the Continuity Market, we also have to pay attention to the price of Talgo, as it has increased by 10% yesterday after announcing the signing of a second order with German railway operator Deutsche Bahn, for 56 models of 230 Talgo trains for an estimated price of Rs. was constructed. 1,400 million euros.

In the macroeconomic section, without many references to Europe to put in their mouths, investors’ attention will be directed to the US, where initial weekly jobless claims will be published this afternoon, according to the April reading of the leading indicators index prepared by the consultancy conference board, or second hand household sales.

However, the markets’ attention remains focused on the progress of political talks in the US, which should allow an agreement to be reached increase credit limit before the end of the month, thus allowing the US Treasury to meet its payment commitments. “we hope that Any positive news on the progress of the above talks will be received favorably by the investors.While there is any indication that the parties are still not reaching positions, the behavior of western risk assets, especially equities, will be punished,” he pointed out. Juan J. Fernandez-Figueres, Link to Gasteone,

“Given the high level of uncertainty that this issue is generating, we anticipate that many investors will prefer to remain on the sidelines of the stock markets while waiting for a final resolution, which will once again be felt in activity in the markets, which may have been lower.” Will continue to happen”, says the expert.

Yesterday, main Wall Street indices closed with gains earlier after US President Joe Biden said talks with Republicans had been productive and he believed an “unprecedented default” by the US would be avoided. McCarthy, the Republican leader in the House of Representatives (the lower house of Congress), said in an interview with CNBC that he did not believe the US would default.

Optimism spread to European stock markets this morning, albeit cautiously. The DAX rose 1.55% to 16,199.08, the CAC 40 rose 0.87% to 7,463.46, the FTSE 100 rose 0.61% and the FTSE MIB rose 1.06%. At the same time, the Euro STOXX 50 climbed 1.10% to 4,370.65 points.

Asia-Pacific share indices rose in the wake of Wall Street on signs that the United States may be close to reaching an agreement to raise its debt limit and avoid a catastrophic default. In Japan, the Nikkei 225 index in Tokyo closed at 30,573 points, up 1.60%.

Oil prices fell on signs of progress in talks to raise the US debt limit, after rising nearly 3% in the previous session on optimism about US fuel demand. Brent oil futures closed at $76.58 per barrel, down 0.52%. Benchmark Brent crude in Europe has been frozen below four weeks. US West Texas barrels fell 0.49% to $72.48.

In fixed income, the yield on the Spanish ten-year debt bond rose to 3.434%, with the risk premium falling to 106.2 basis points compared to its German counterpart. Across the Atlantic, the benchmark 10-year US bond offers a secondary market yield of 3.595%.

The euro fell 0.22% against the dollar to mark an exchange rate of $1.0818 for each community currency.