The Spanish Stock Market says goodbye to the last session of the week practically flat, at 8,815 points. And although the closing of Friday, slightly downwards (-0.09%) tarnishes four consecutive sessions of increases, the selective manages to close the week with accumulated increases of 2.28%, which extend to 2.7% in the set of the month of April.
It is already the third consecutive month of increases for the national stock market, which these days has faced the harsh challenge of the avalanche of business results that, in general, have been well received by the market. And that the macro does not help, after knowing that Spanish GDP contracted 0.5% in the first quarter, due to the effects of the first wave. A figure even worse than the 0.4% anticipated by the Bank of Spain.
The results have returned to be protagonists of the hand of the banking sector. This Friday they have rendered accounts to the market BBVA and Banco Sabadell. The entity led by Carlos Torres has surprised with a profit of 1,210 million euros, returning to pre-crisis levels after a more than complicated 2020 with losses of 1,792 million derived from provisions and endowments to its goodwill. Despite some first downward crosses, its shares end up rising more than 2.5% to 4.6 euros per share.
Closes the round of accounts in the Sabadell sector, which have been very well received by the market. Their titles have led the top of the table with a spectacular 8% bounce that allows the value to recover the 0.52 euros per share. Although the company has made a profit of 73 million euros, the figure is still 22% below the first quarter of 2020. On the positive side, the return to profits of its British subsidiary TSB.
In the debt market, the yield on bonds, which moves inversely to price, has risen again in recent days and the Spanish ten-year bond interest It is already close to 0.475%, very close to the highs for the year. Something that, in principle, should favor the listing of banks, if the sector does not fall today in the aforementioned profit collection.
The results are also very positive on Wall Street. According to data compiled by Link Securities, half of the listed companies in the S&P 500 They have already presented their quarterly accounts, with an average growth in net profit of 44%, when at the beginning of the year, just four months ago, analysts’ estimates pointed to an increase of only 15%.
Renewables and releases
Renewables are back on the limelight. On the one hand, Siemens Gamesa stood at the bottom of the table with losses of more than 1.7% in the day of presentation of its quarterly accounts, and that have been about to cost the value 30 euros per share.
On the other hand, investors have already received confirmation of the IPO of Ecoener that, finally and before the boom in stock market premieres in the sector that is coming, has set its starting price at 5.9 euros per share, in the lower part of the range established between 5.9 and 7.25 euros per share. For its part, Direct line, which debuted on Thursday with increases that reached more than 30% in the best moments of the session, extends the rally with increases of 1.6% this Friday.
In the foreign exchange market, the cross between the euro and the dollar remains at $ 1.2116, with falls close to 1% for oil prices, until the Brent-type barrel, a benchmark in Europe, stood above 68 dollars, while the American West Texas hovers around 64.5 dollars.