The Ibex recovers the 9,500 but drops almost 5% in the first quarter
Acciona has led the advances after announcing a plan to repurchase shares
- On a negative note, Mediaset España and ArcelorMittal have been the most bearish
- The electricity sector has also registered a very positive day
The Ibex 35 has risen 0.86% and has recovered the 9,500 points (9,555.70), at the end of a first quarter which, however, has not been positive for Spanish equities. The index has fallen by 4.9% in the first three months of 2018.
IBEX 35
11.435,700
-
-0,28%-31,60
- Max: 11.474,90
- Min: 11.399,10
- Volume: -
- MM 200 : 11.294,32
The most bullish value of the Ibex was Acciona (+ 3.9%), after announcing a share repurchase plan valued at 322 million euros. The group controlled by the Entrecanales family will buy back 5% of its capital, at a time of weakness for the company.
In addition, the electricity sector has registered a positive behavior. Red Eléctrica has revalued by 3.3%, followed by Iberdrola (+ 2.98%), Enagás (+ 2.5%) and Endesa (+ 2.4%). Among the large securities, Inditex advanced 1.1% and BBVA 0.5%.
On a negative note, Mediaset España shares have plummeted by 6%, after Deutsche Bank analysts reiterated their negative view of the advertising market. They have also cut the target price of the value down to 6.50 from 7 euros. Other bearish values of the day were ArcelorMittal (-2.2%), Técnicas Reunidas (-2.1%) and Meliá Hotels (-1.9%). Among the large companies, Repsol lost 0.8%, Santander 0.7% and CaixaBank 0.2%.
CHINA AND TECHNOLOGY
As for the day's events, Kim Jong-un and his approach to China have been talked about, confirming that the North Korean leader has visited the country and that he is committed to the denuclearization of Korea. Strategic moves ahead of that summit at the highest level scheduled for May and which would put Kim Jong-un and US President Donald Trump face to face.
Michael Hewson, chief analyst at CMC Markets in London, emphasizes the fact that the advances of the last 18 months in the United States have been driven, for the most part, by technology, and shows concern the weakness that these now reflect.
"It will be a matter of time before the attention passes from Facebook to the rest of the companies in the sector, such as Alphabet, Twitter, Microsoft or Apple, and how they manage the personal data of their users." If lawmakers turn their attention to the rest of the sector , what seems likely, then (...) will increase the possibility of discovering other practices that invite research ".
