The second quarter and first semester results publication season begins in Spain with Iberdrola and Naturgy. The electric company directed by Ignacio S. Galán has communicated that, in an almost desperate attempt to get hold of the company, it has once again improved the price of its takeover bid for Infigen. Iberdrola has also said that, so far, only a percentage of just over 4% has accepted its offer.
- 11.674,800
- 0,33%
Regarding its results, Iberdrola earned 12% more until June and 13% less in the second quarter. The company has recognized a Covid-19 impact of 228 million on EBIT and 153 million on net profit. Still, it has confirmed its profit estimates and dividend for 2020.
The Ibex starts today from 7,494 points after deflating yesterday, like all of Europe, despite that agreement between European leaders to help financially in the recovery of the block. The Spanish team tried to attack the resistance they have at 7,664 points but failed in the attempt and ended up very close to the lows of the day. "The figure is not good, although the lateral movement of the last few weeks has been awaited for a definition in one direction or another," explains César Nuez, analysts at Bolsamanía and head of Trader Watch. "If in the end it manages to exceed 7,663 points, it is very likely that we could end up seeing an extension of earnings to the level of 8,000 points. Below, we will continue to be very aware of the support of 7,062 points," he adds.
The falls expected for this Wednesday reflect that investors are still very concerned about the pandemic. In the United States, the virus has already infected more than 3.8 million people, according to data from Johns Hopkings University, and has killed almost 142,000 people. Thus, the US reported more than 1,000 deaths from Covid-19 on Tuesday, according to Reuters. It is the first time since June 10 that the country reaches this milestone.
President Donald Trump warned Tuesday that the pandemic in the US is likely to "get worse before it gets better."
"That's something I don't like to say about things, but that's the way it is" he said during a White House briefing on the CNBC pandemic.
