A . man walks past a Telefonica building in Barcelona, July 31, 2014
Photo: Albert Gea / Reuters
The Ibex-35 ended Thursday in positive a volatile session in which investors closely followed the developments in Greece, while Indra came to shoot 20 percent after confirming the entry of Telefónica in the shareholding of the technology group.
“There have been many ups and downs in the session because although the results of Sabadell have favored domestic banks, especially the median, investors remained the corner of my eye what happened in Greece and have responded to any comments, reaching almost Ibex drop 1.5 percent in some sections, “Jesus de Blas, Mercagentes analyst said.
The Greek government on Thursday reiterated its willingness to dialogue to renegotiate the terms of its bailout deal with international creditors, while France insisted that Greece’s debt will not be forgiven, but opened the door to give more time to the new government to pay.
In Madrid, part of the focus was on Indra, whose shares were revalued 19.15 percent to 9,101 euros, after entering Telefonica in the capital of Indra.
Along with the entry of Telefónica, Indra replaced its current president, Javier Monzón, by Fernando Abril-Martorell, former head of finance at Telefónica.
Part of the rise has its explanation that the entry phone giant surprised many investors with short positions, forcing many to close their bearish positions, according to financial sources.
The Ibex-35 closed up 0.48 percent at 10,507.6 points, after hitting an initial minimum of 10,320 points, while European stock index .FTEU3 fell 0.18 percent to 1472.38 points.
The risk premium stood at 110 basis points from 108 basis points yesterday’s close.
Another favorite of the day was Banco Sabadell, to rise 4.7 percent after announcing a rise of 50 percent of its profit in 2014.
Other medium banks, as Bankia, CaixaBank and Popular, which also present results from Friday Monday, rose between 3.7 and 1.4 percent.
The two largest banks, Santander and BBVA, which together weigh almost 25 percent in the selective ran mixed fortunes. The Cantabrian entity is appreciated 1 percent while rival closed flat.
The supermarket chain DIA rebounded 3.7 percent, underpinned by the spurt of retail trade in December, which achieved its highest sales rate in 11 years. [ID: nL6N0V825X]
However, the textile giant Inditex was down 0.6 percent.
The insurer Mapfre dropped 1.78 percent and was the worst percentage Ibex, followed by OHL which depreciated by 1.5 percent.
For his part Repsol, which fell more than 1 percent after oil suspending its program of buying shares closed flat.
(Reporting by Emma Pinedo; Editing by Jesús Aguado)
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