• Telefonica earns 2.369 million euros in 2016 and reduces its debt to 48.595 million
  • DIA also posted earnings report and increased profits by 42%
  • Repsol returned to the gains side after a year of falls
bolsa madrid ibex

The Ibex 35 welcomed financial results season on Thursday after it closed with a 0.17% rise to 9,493.4 points. Telefonica, Repsol and Iberdrola were the only three stocks which pushed the index on. These three neutralised the bad influence of the banking sector on the day.

Dia

  • 0,013€
  • 1,57%

IBEX 35

  • 11.154,600
  • 1,56%

REDEIA CORP

  • 15,570€
  • -0,45%

Repsol

  • 14,720€
  • -1,90%

Telefónica

  • 4,222€
  • 1,73%

DIA led the advances with a 2.69% rise to 5 euros. The results of the supermarket chain pleased investors, despite reporting that it registered 42% less profit than the previous year. However, its profit before taxes was 243 million euros, 12.8% more than in 2015 in local currency.

Iberdrola, which posted its earnings on Wednesday, accompanied it in the higher part of the table with a rise of 2.5% to 6.2 euros. However, Telefonica was the big business winner on Thursday asnd was the third best performer in the Ibex, finishing 1.8% higher at 9.51 euros. The telecoms opened a series of results at the beginning of the day, its figures showing a 2.369 million profit in 2016, and it reduced its debt to 48,595 million euros.

Repsol also had a good session after presenting its results. The oil firm rose 1.42% to 13.89 euros after reporting that it earned more than 1.730 million euros in 2016, above what was expected.

Another firm which published results was Red Electrica. During 2016 it gained profits of 637 million euros, 5% more than the previous year. Investors toasted the results and its share price gained 0.35% to 17.29 euros.

On the other hand, the banking sector prevented the Ibex from further gains, even though Banco Santander closed with gains in the end. Banco Sabadell picked up the wooden spoon of the day after a 2.56% fall to 1.4 euros. ArcelorMittal and Indra also fell sharply, by 2.03% and 1.96% respectively. BBVA fell 0.87% to 6.1 euros.

OTHER MARKETS

It was not a good day for other European markets, after they closed in negative. The DAX 30 fell 0.42%, as did the FTSE 100 in London. The CAC 40 in France closed slightly lower (0.09%). The FTSE MIB in Italy fell 0.35%.

Brussels and the European Central Bank did not agree with the bailout of Monte dei Paschi di Siena. Doubt about the plan to inject cash into the bank appear problematic for the EU institutions.

Wall Street's party continues. Yesterday was a mixed day for its indices, but the Dow Jones still hit its ninth consecutive record high,a s treak that it has not reached in the past 30 years, and it looks like it is heading for 10 in a row on Thursday.

TECHNICAL ANALYSIS

"The second last session of the week, despite closing without a major movement, was marked by the good performance of Telefonica, Repsol and Iberdrola," points out José María Rodríguez, Bolsamanía technical analyst.

"Telefonica is the blue chip which is countering the bad performance of the banks in the last few weeks."

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