Banco Santander leads the bottom of the table with a drop of more than 3% after the presentation of the results
Step by step and after last week’s doubts, the Ibex-35 is consolidating its gains. In its third positive session, the squad managed to close at 7,870 points, which is the highest level since September 22, after rising another 0.90%.
A lead that could have been even greater, had it not been for the downward pressure applied by Banco Santander, which fell by 3.27% after the presentation of the results until September with a profit of 7,316 million euros, 25% more. Despite record profits, the market has not welcomed the group’s accounts, which are already trading at EUR 2.6 per share.
While the accounts have beaten consensus expectations, analysts at Renta 4 Banco have seen some deterioration in risk metrics in Brazil and the US. “Doubts about its evolution could not please the market,” they add, although they maintain their recommendation at ‘overweight’ and their price target at 3.99 euros per share.
The financial sector is the absolute protagonist of these conferences. And not just because of the corporate earnings round that will continue this Thursday with Sabadell and end on Friday with BBVA and CaixaBank. The most important event for the sector, and for the entire market, is this Thursday with the meeting of the European Central Bank.
A meeting in which, predictably, the monetary organization will raise interest rates again by 75 basis points in its fight against inflation. “We expect macroeconomic projections for December to point to a bleaker picture than September,” Vontobel analysts said in a note to customers.
Against this background, and in anticipation of Thursday’s message from Christine Lagarde, the rest of the European stock markets also closed in “green”, with an advance of 0.61% in London, 0.41% in Paris, 1.09 % in Frankfurt and 0.45% in Milan.
Meanwhile, on the commodities market, a barrel of Brent grade oil, a benchmark for the old continent, stood at $95.77 this Wednesday, up 2.41%, while the Texas It stood at $88.01, a record high. increase of 3.15% .
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
