The Spanish team achieved its best level since the beginning of the year in a session marked by the ECB and the economic indicators
The IBEX 35 started the day this Thursday with an impulse of more than 0.5% that placed it close to 10,200 points, its highest level since last January 8, on a day where the investors have been paying close attention to the minutes of the latest European Central Bank (ECB) monetary policy meeting and the presentation of business results. Among them, those of Telefónica, Iberdrola and Repsol.
Repsol, the most outstanding value of the IBEX, followed by Grifols and Santander
Repsol, in fact, has been the leader of the IBEX bulls with more than 5%, after announcing a net result of 3,168 million euros in 2023, which means a reduction of 25.5% with respect to the 4,251 million euros obtained in the previous year, as reported by the company, which also launched this Thursday a new strategic plan for the period 2024-2027, which has pleased the market.
The firm has announced that it will pay out 30% more to its shareholders this year, up to an extra 30 cents per share which increases the dividend to 90 cents. With this, it will distribute 1,095 million euros in 2024, a figure it undertakes to increase at a rate of 3% per year until it distributes 4,600 million euros in cash dividends until 2027.
Behind Repsol are Grifols, which has gained 2.3% and Santander, which has risen 1.2%. Most of the companies have traded positively in the first moments of the session and only Iberdrola, Enagas and Naturgy have recorded decreases of around 0.5%.
Telefónica and Iberdrola also present their 2023 results
In the business field, Telefónica has informed the National Securities Market Commission (CNMV) before the opening of the Madrid market that it closed 2023 with accounting losses of 892 million euros, after the provision of ERO in Telefónica Spain and the impairment of goodwill in its UK subsidiary.
For its part, Iberdrola has also announced that it achieved a record profit of 4,803 million euros in 2023, which represents an increase of 10.7% compared to the previous year and thus pulverized its profits of 4,339 million euros from a year ago.
Investors are also watching Eurozone inflation and PMIs
In addition to the avalanche of results, investors have also been waiting this day for the inflation data for the eurozone corresponding to the month of January and the publication of a battery of manufacturing, composite and services PMI France, Germany, Italy, the United Kingdom and the Eurozone.
The main European Stock Exchanges opened this Thursday with a positive sign, with Frankfurt rising by 1.21%; Milan and Paris, 1.02%, respectively, and London, 0.43%.
At the opening of the stock market, the price of a barrel of Brent quality oil, a reference for the Old Continent, rose by 0.42%, to 83.38 euros, while that of Texas stood at 78.26 euros, 0.45% more. And in the foreign exchange market, the quotation of the euro against the dollar advanced to 1.0853 ‘green notes’, while in the debt market the interest required on the 10-year Spanish bond rose as high as 3.370%.
