Ibex 35 falls 0.42% to 19,275.50 points in a session marked by geopolitical uncertainty and rising oil prices, with Brent above $83.
The Spanish stock market has recorded its fifth day of tensions between the United States and Iran, with the Strait of Hormuz in focus. The Spanish index has traded below 19,300 points throughout the session, while investors maintain a tense calm. Major banks have pressured the index downwards, and oil prices are once again marking a session of high volatility.
The European Brent has accumulated a weekly increase of 4.8%, although today it has given up half a percentage point. However, it maintains its price above $83 per barrel, a level not seen for months. Tension in the Middle East remains the main catalyst for this escalation.
Fluidra, Repsol and BBVA lead the declines in Ibex 35
The Ibex 35 has closed the session with a decline of 0.42%, down to 19,275.50 points. The most affected stocks have been Fluidra, which dropped 2.79%, followed by Repsol (-2.05%) and BBVA (-1.60%). Fluidra has suffered from the drag of its US counterpart Pentair, which lowered its outlook and reported second-quarter results that did not please the market.
On the upside, Grifols A has risen by 2.06%, Endesa by 0.76%, and Indra by 0.72%. The blood products company has benefited from the absence of negative news and some appetite for defensive stocks.
Bank of America upgrades forecasts for Santander and CaixaBank
Banks have been in the spotlight due to new recommendations from Bank of America. The US entity has raised its price target for Banco Santander to €13.80 per share, representing a 25.5% increase from its previous estimate and an upside potential of over 14%. Despite this upgrade, it maintains a neutral position on the Cantabrian bank, highlighting its attractive valuation and prospects for improved efficiency and capital generation.
For CaixaBank, Bank of America sets a price target of €14.20 per share, 9% higher than its previous projection. Additionally, it gives CaixaBank the only buy recommendation among the analysed Spanish banks. Meanwhile, JP Morgan reiterates its overweight recommendation for Bankinter, although it lowers the price target; the upside potential is 15.5%.
Amadeus and ACS stand out with upside potential and new contracts
Amadeus has also caught the positive tone. Analysts at Renta 4 have reiterated their 'overweight' recommendation with a price target of €67.20 per share, translating to a more than 35% upside potential from current levels. The travel company benefits from the recovery of tourism and its technological position.
ACS has been another standout. The construction company has signed its first long-term contract for its global data center platform, in partnership with BlackRock (GIP), at its data center in Dallas-Fort Worth (Texas, USA). The agreement covers approximately 140 megawatts (MW) across three facilities, with expansion rights for an additional 100 MW across two more facilities. Furthermore, holders of 40.84% of ACS shares have chosen to receive the dividend of €1.866 in cash, while the rest will receive one new share for every 69 shares held.
Finally, Jefferies has highlighted that Aena remains
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