The Ibex 35 advances 0.3% and consolidates at 10,100 integers with Repsol up more than 5%

MADRID, 22 Feb.

The Ibex 35 advances 0.3% and consolidates at 10,100 integers with Repsol up more than 5%


The Ibex 35 closed this Thursday with an advance of 0.31%, which has led it to stand at 10,138.9 points, with Repsol as the protagonist by scoring 5.45% driven by its 2023 accounts and the update of its strategic plan, in which it plans to allocate 10,000 million euros to remunerate its shareholders and launch a record investment plan of up to 19,000 million by 2027.

XTB analyst Javier Cabrera points out that Repsol has been able to "exceed the expectations" of the analyst consensus for the fourth quarter, in addition to improving the figures compared to the third quarter of the same 2023. Likewise, it has a "very good position" to benefit from a potential rise in oil prices and be one of the favorites in its sector.

Results have also been presented by Telefónica, which recorded accounting losses of 892 million euros in 2023, after the provision of the restructuring plan of Telefónica Spain and the deterioration of goodwill in its United Kingdom subsidiary, and Iberdrola, which obtained a profit net of 4,803 million euros, which represents an increase of 10.7% compared to the previous year and has thus pulverized its record profits of 4,339 million euros from a year ago.

At the macroeconomic level, this morning it was learned that the rate of deterioration in the activity of the private sector in the eurozone has slowed in February to its lowest level in the last eight months as a consequence of the recovery observed in the services sector, according to the advance of the Composite Purchasing Managers' Index (PMI) for the eurozone of S

Specifically, in the month of February, the eurozone composite PMI stood at 48.9 points, compared to 47.9 in January, still signaling a contraction in business activity, but at the slowest pace in eight months; In the case of the services sector, the PMI for February stood at 50 points, a reading equivalent to stagnation, compared to the fall in January, with 48.4 points, thus marking its highest level in seven months, while the Manufacturing PMI has worsened again, with a data of 46.1 points, compared to 46.6 last month.

The minutes of the last meeting of the European Central Bank, held between January 24 and 25, have also been known, in which the members of the Governing Council assumed by a broad consensus that it was "premature" to discuss rate cuts to the considered that "the risk of lowering official rates too soon outweighed the risk of doing so too late."

In this context, the biggest increases after Repsol, which has advanced 5.45%, have been those of Sabadell (2.32%), IAG (2.31%), Grifols (2.04%), Unicaja (1.66%) and Telefónica (1.60%). On the other hand, the largest falls have been recorded by Enagás (-2.33%), Iberdrola (-1.69%), Solaria (-1.66%) and Acciona (-1.62%).

The main European stock markets have also opted for increases, with advances of 1.47% in Frankfurt, 1.27% in Paris, 1.06% in Milan and 0.29% in London.

In the raw materials market, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose 0.65%, to 83.57 euros, while that of Texas stood at 78.56 euros , 0.83% more.

In the foreign exchange market, the price of the euro depreciated 0.06% against the dollar, to 1.0813 'greenbacks', while in the debt market the interest required on the ten-year Spanish bond fell slightly up to 3.335%, with the risk premium (the differential with the German bond) at 92.6 points.