Although August is par excellence the holiday season, the missteps that are the protagonists of the current financial year do not seem to rest this month either. This could be seen after the escalation of tension between China and the United States after the visit to Taiwan. A situation that, against all odds, did not shake the markets, with the Ibex 35 scoring a rise of 3.3% so far in August.
Banco Santander and Inditex are the main responsible for this progress, since, in proportion, the bank and the textile firm contribute 48% of what has been earned in the main Spanish reference so far this month. Specifically, the Cantabrian entity, which leads this list, adds 63.4 points to the Ibex, which in percentage is equivalent to 24.21%. The company led by Marta Ortega, for its part, contributes 61.3 points to the selective, that is, 23.4%.
Although in the computation of the year none of these values is having it especially easy on the floor, with losses of 10.3% in the case of Santander and almost 10.5% in that of Inditex, August has come as a blow of fresh air for their titles and they are among the three most bullish stocks on the Ibex, with a rise of 8.2% for the financial institution and 7.9% for the fashion company, which are only surpassed by BBVA, which 8.6% is recorded.
And it is that, -the first executed in almost eleven years-, as expected, it has been a catalyst for the actions of banking entities, despite the news that broke a few days after the new tax on extraordinary profits of the banking sector and the energetic.
Thus, currently Santander, which is raising the buy line according to FactSet experts, offers an upward potential of 48% until reaching the target price set by the Bloomberg consensus of 3.88 euros. Inditex, which has been another of the big losers due to the general macroeconomic situation, inflation and high costs, also manages to mend its path on the stock market and leaves the positions of the most bearish firms on the Ibex. The Galician company has an upward trend of 11.4% according to the same consensus of analysts, until reaching its target price set at 28.33 euros. Thus, five of the six experts who have reviewed the titles of the textile in the month of August give it a fair price higher than the market average.
Iberdrola, BBVA and Aena complete the top 5 companies that contribute the most to the Ibex in the first half of the month, with 48.51 points in the case of the former, 44.85 points in that of the banking entity and 11.98 points in that of Aena, which after the lows it touched last July – when it fell to Covid levels – also manages to soar this month thanks to the increase in holiday traffic. Cellnex and Telefónica are on the other side of the table, and they are the ones that remain the most from the Ibex in August, with -10.43 and -10.74 points
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