All the Ibex values closed in green this Wednesday except Inditex, in a new day of gains for the selective (+ 1.35%) and for the rest of the European stock exchanges, driven by the latest statementsfrom Donald Trump on a possible trade agreement with China and waiting on the vote of no-confidence the British PM will be subject to later in the evening, which may have profound implications for the future of Brexit.
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Inditex has been the only negative news that the Ibex has fallen this Wednesday. It has dropped by 4.9% and yielded over 7% after publishing results of the fiscal third quarter that have failed to meet the forecasts of analysts. Between February and October, Inditex gained 4% more, up to 2.4bn. In the third fiscal quarter, the profit was 1bn, slightly below what was expected.
The analysts highlight as a negative element the deceleration of sales, and also the comparables, which are below the targets given by the company. However, Inditex has reiterated its expectations in comparable sales and gross margin for the second semester, which is favorably valued.
For its part, DIA has returned to trading after being suspended at the start of the day has shot 11.9% after announcing that it raises an expansion of 600 million and the sale of assets. The company has reached an agreement with Morgan Stanley for this operation to be backed 100% by the US bank. Also, the supermarket chain has confirmed that it is studying the sale of assets - Max Discount and Clarel - as part of its plan to save itself from the bankruptcy.
Beyond the two main protagonists of the day, CIE Automotive (+ 5.9%) and Santander (+ 3.4%) DIA followed as the most bullish value at the close, while AENA (+ 0.3%) and Técnicas Reunidas (+ 0.5%) were the second and third most bearish, despite having closed in green.
In the main board, the unquestionable protagonists have been Unicaja (+ 15.9%) and Liberbank (+ 13.9%), which have shot up after confirming that they are studying their merger.
Earnings also dominated European markets (CAC40 + 2.4%, DAX30 + 1.6% and FTSE100 1.3%) and highlighted the news that The Government of Germany is studying how to facilitate a merger between Commerzbank and Deutsche Bank, after which, the actions of the latter have risen more than 5%.
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Meanwhile, the pound is still 'hit' (it has fallen by 2% so far this week) due to everything that is happening in the UK. May will face this afternoon the no-confidence vote in the British Parliament driven by the Conservative Party group, the 'Tories'. The 'premier' has ensured that this initiative puts the country at risk and that a new leader will not be able to renegotiate the Brexit agreement.
Italy is also news today as the Prime Minister, Guiseppe Conte, meets with representatives of the European Commission (EC) in order to reach an agreement on the Budgets.
Wall Street ended the last session with a mixed sign and moderate movements and at this time it is trading with increases of over 1%. In Asia the rises have dominated, with climbs higher than 2% in the Nikkei. The Justice of Canada has released, after recieving a deposit of 7.5m dollars, the Huawei financial director, Meng Wanzhou. This comes after the United States asked the Vancouver court to deny bail. All this, amid the statements of Donald Trump, who has been optimistic about the possibility of closing a trade agreement with China.
