The IBEX 35, Spain’s benchmark stock market index, started Thursday’s session with a slight increase of 0.09%, bringing it to 11,372.9 points. This slight uptick comes in a day of transition for the markets due to the absence of significant macroeconomic references and the scarcity of corporate earnings reports.
In the corporate realm, the State Industrial Participations Company (SEPI) has surpassed the 9% threshold in Telefónica’s share capital, approaching the government’s mandate to acquire up to 10% of the Spanish telecommunications operator.
On the other hand, the Swiss group J. Safra Sarasin (JSS), specializing in private banking and asset management, announced a public takeover bid for Árima Real Estate at a price of 8.61 euros per share. This represents a premium of nearly 38.9% over the closing price of the socimi’s shares on Wednesday (6.20 euros per share).
As a result, Árima Real Estate’s shares surged by almost 36% at the opening of the stock market on Thursday, reaching a unit price of 8.42 euros, leading the gains in the continuous market.
In terms of macroeconomics, the United States will release industrial production data for April on Thursday. The week will conclude with the eurozone’s inflation data and various indicators from China, including housing prices, industrial production, retail sales, and unemployment.
At the opening on Thursday, the top gainers were Acciona (+0.81%), CaixaBank (+0.80%), Rovi (+0.64%), and Mapfre (+0.60%), while the top losers were Merlin Properties (-0.54%), Banc Sabadell (-0.53%), and ArcelorMittal (-0.50%).
Major European stock markets opened with mixed trends on Thursday. Frankfurt rose by 0.01%, while London, Paris, and Milan declined by 0.19%, 0.15%, and 0.02%, respectively.
The price of Brent crude oil, a benchmark for the European market, rose by 0.44% to $83.11 per barrel at the opening of European markets, while Texas crude stood at $78.98, up by 0.45%.
In the currency market, the euro remained steady against the dollar at 1.0876, while in the bond market, the yield on the Spanish 10-year bond fell to 3.179%.
Overall, the day’s market movements and corporate developments indicate a mix of positive and negative trends, reflecting the ongoing economic uncertainties and global market dynamics. Investors will be closely watching upcoming economic data releases and corporate announcements for further insights into market direction.