Looking at the conclusion of 2014, the Spanish Stock Exchange advances in the shade of volatility. International indexes, pending what happens in the Eurozone, China and Russia.
Given the possibility that Syriza wins the next elections in Greece , international indices have over 4 percent decline. The Ibex, with an increase of 6.93% over the last five days, and 2.3% last year, is Europe’s greatest progress indicator.
In this context, many experts say that equities will be the active star in 2015. They recommend diversifying the portfolio with fixed income, currencies such as the dollar, gold and alternative through funds management. Analysts suggest investors with conservative profile allocate between 7% and 30% of the portfolio to equities. Meanwhile, for those who like risk suggest placing them between 65% and 90% in that option. Investments must be complemented with alternative investments or balanced funds.
Spanish Market
Within equities, the favorite bet next year is the Spanish Stock Exchange, for which it is expected significant growth in 2015, according to Ignacio Cantos, atl Capital.
Ahorro Corporación, meanwhile, expects 2015 growth of 1.8% of the Spanish Gross Domestic Product (GDP) and 1.9% in the employment rate. It also considers that extending the Ibex 35 is 26.6%, to reach 30,000 million euros. The consultant is confident that the Dow will end the year at 12,285 points, an increase of 21% compared to yesterday’s close.
The company Cortal Consors not rule out selective even reach 12,500 points, reflecting the improvement in the debt market.
Andbank is milder and bet that the Ibex will grow a modest 9 percent.
Based on the above, analysts are advised to invest in securities with exposure to the Spanish economy, as the financial sector, companies with strong balance sheets and good earnings. atl Capital relies on the smooth running of Popular, Liberbank, OHL, ArcelorMittal and Indra. These recommendations are for an aggressive investment profile.
For those who prefer less risk, atl Capital suggests companies with stable businesses and high international exposure such as Ferrovial and Amadeus. Self Bank includes in its recomentaciones companies such as Tecnicas Reunidas, Dia and Mapfre. Andbank choose, for its part, IAG, Acerinox, Mediaset and Socimi Merlin.
These analysts point out that there are interesting options if you look retribution. Andbank chooses Endesa and Abertis, the returns to shareholders over the medium term. Consider, offer yields above 4% charged to the results of 2015. The most generous companies next year will Ibex Santander and Repsol, whose dividend yields exceed 6 percent.
European Exchange
In addition to the Spanish Stock Exchange, preferences analysts focus on Europe, believe that the European Central Bank (ECB) take measures to encourage indexes. Advise taking minority positions in the United States and Japan, as although these markets are trading demanding ratios, they can hide investment opportunities
In 2014, the ECB cut twice the price of money. In June and September , by 10 basis points each, to the lows of 0.05 percent. Experts predict that in January the ECB will launch the Quantitive Easing (QE), to propel the indices. Andbank believes that the European indices except the Ibex, can grow between 4% and 6 percent.
Banco Sabadell expects euro area GDP reached 0.8 percent, below the consensus of analysts that points to be 1.2 percent. For investors with high risk profile recommend a portfolio of five values:. Airbus, Bayer, Daimler, Essilor and Intesa
Union Bancaire Privée (UBP) focuses its recommendations HSBC, ING, Axa and Swedbank, the smooth running of their businesses. Meanwhile, Self Bank advised automotive companies with sales rising as Daimler and Volkswagen. In the energy sector suggest the French oil company Total and the Italian utility Enel.
United States
In this market provide a lower potential. Banco Sabadell granted a limited bullish forecast the S & amp; P500 1 percent. Self Bank for JPMorgan and Wells Fargo, technology companies like Microsoft and Apple, and oil companies like Exxon Mobile and Occidental Petroleum is tilted.
Bond
Offers 2% at 12 months and only for the wealthy pockets). An alternative is to use unpaid bills, with similar returns but without a fixed term and greater liquidity.
Alternative
And if you have good liquidity, one option is to go for the sector after seven years of real estate price collapse. Experts recommend reviewing the regions before buying. There are opportunities in the suburbs of the big cities, although the biggest discounts are on the Mediterranean coast, where the price of housing has fallen to 60% since 2007.
Finally, you can choose investments like gold. In anticipation of the withdrawal of stimulus in the US, analysts believe the dollar will continue to rise, making it an attractive option for the medium term.
Content of the Iberoamerican Network Economic Press 
fondos@eleconomista.com.mx
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