The Ibex 35 has reached the barrier of 8,000 points after rising 4 percent
The Ibex 35 soared 4% and conquered the 8,000-point mark after learning that Moderna’s vaccine against the coronavirus is 95% effective. The selective, which already rose by almost 2% in the half session boosted by BBVA and Banco Sabadell , further expanded its earnings when the progress of this vaccine against Covid-19 was known, after having marked its best weekly performance last week in two decades thanks to announcements about another vaccine, Pfizer’s.
After Moderna’s announcement, the Ibex 35 stood at 8,096 points (+ 4.02%), with most of its values positive. The biggest promotions were presented by BBVA and Sabadell . BBVA rose 19.1%, to 3.78 euros, after announcing the sale of its US subsidiary to PNC for a price of approximately $ 11.6 billion (9.7 billion euros) in cash, which will generate a capital gain net of taxes of about 580 million euros and tangible assets will increase by 1,400 million euros. The price of the operation represents 19.7 times the result obtained by the unit in 2019 and is equivalent to about 50% of BBVA’s current stock market value, so the operation creates “enormous” value for shareholders, he assured the bank.
The president of the entity, Carlos Torres, and its CEO, Onur Genç, have reported the intention to carry out a “relevant” share buyback with the excess capital derived from the sale of its subsidiary in the United States, at a time that they have not ruled out dedicating a part to undertaking a possible consolidation operation.
The market takes it for granted that Banco Sabadell will participate in the hypothetical BBVA consolidation operation, since the entity’s shares also rose 19.5%, to 0.40 euros. The Ibex 35 was also buoyed by good data from Asia, where Japan’s GDP expanded by 5% in the third quarter of the year compared to the 8.2% drop observed in the immediately preceding quarter.
Among the promotions, IAG (+ 12.33%), Meliá (+ 10.03%), Repsol (+ 6.75%), Merlin (+ 6.03%), Bankinter (+ 5.59%), Telefónica (+ 5.46%), Santander (+ 5.4%), Bankia (+ 5.36%), CaixaBank (+ 4.89%) and Aena (+ 4.87%). On the contrary, Pharma Mar (-7%), Solaria (-4.07%), Cellnex (-3.12%), Siemens Gamesa (-2.33%) and Iberdrola (-0.35%) were trading negative. ). The rest of European squares were also listed in “green” , with increases of 2.25% for Paris, 1.34% for Frankfurt, 1.47% for London and 2.12% for Milan.
A barrel of West Texas Intermediate (WTI) oil, the benchmark for the United States, was trading at $ 41.5, while Brent crude, the benchmark for Europe, was priced at $ 44.11. For its part, the Spanish risk premium stood at 65 basis points , with the interest required for the ten-year bond at 0.122%, while the price of the euro against the dollar stood at 1.1845 “greenbacks”.