• Santander’s shares fell 0.51% after falling 3% at one point
  • Other European markets close in green, apart from PSI 20

The Ibex 35 recovered well in the later part of the session to gain 0.6% to 10,588 points thanks to the good performances of ArcelorMittal and Aena, which finished 2% higher, and Santander limited its losses to just 0.51%. Other European markets also finished higher, aprt from the PSI 20.

IBEX 35

  • 11.442,700
  • -0,21%

It’s clear that on Tuesday we had a session of pronounced cuts but nothing we haven’t seen before this summer, which has been marked also by some gains and many narrow movements.

ArcelorMittal led the gains after rising 2.57%, with Aena climbing 2.29% and ACS 2%. With regard to the fallers, DIA was 1.96% lower, followed by Bankia (-0.95%) and Banco Santander (-0.51%).

The rest of the heavyweights finished higher, with BBVA at 0.24%, Telefonica by 0.34%, Inditex by 1.48% and Iberdrola (+1.69%)

Meanwhile, Donald Trump will take the headlines again a day before a key rates meeting of the ECB. The US President was revealed to have held a secret meeting with Russian counterpart Vladimir Putin during the G20 summit in Hamburg.

Returning to company results, at the end of the day Electrolux and Volvo will publish. In the international micro arena, , there is talk of the resignation of Akzo Nobel director Ton Beuchner due to health problems.

Oil increased its gains after US stockpiles had fallen more than what was forecast.. They fell 4.7m barrels in the last week to 490.m barrels, according to the EIA. Analysts had expected a drop of 3.2m barrels. West Texas rose 1.29% to $46.98, while Brent gained 1.33% to $49.48.

ABERTIS, AENA...Y BLESA

Abertis and Aena are the protagonists of the day in the national business realm. The CNMV suspended trading on both before the open today. Expansión reported that the airport manager had considered a counteroffer for Abertis but it had discarded the option as it would lead to its nationalisation.

The acquisition from Atlantia of Abertis is not entirely convincing and there has been speculation about the possibility of a counter offer from Abertis. Aena confirmed that the report was correct, and both firms returned to the trading floor with moderate movements.

The other news of the day surrounds Miguel Belsa, the ex-president of Caja Madrid who was found dead in a lodge in Córdoba with a gunshot wound in his chest.

TECHNICAL ANALYSIS

José María Rodríguez, Bolsamanía technical analyst, said that “during the session the most interesting thing was not the Ibex itself, but Santander’s movement. We have already talked about other occasions in which the bank is the major influence on the market. If at the moment it is unable to launch an upward movement, the fact it is rebounding from supports leaves us with a good feeling.”

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