The IBEX 35 Index has done well this year and is now hovering at its all-time high. It has jumped by about 40% from its lowest point this year, making it one of the best-performing indices in Europe.
The index, together with its other European peers, will react to the upcoming European Central Bank (ECB) interest rate decision. It will also react to earnings by some of the biggest constituents. This article explores some of the top IBEX 35 stocks to watch this week.
Santander (SAN)
Banco Santander, the biggest bank in Spain, will be one of the top IBEX 35 stocks to watch this week. It will be in the spotlight as it publishes its financial results on Wednesday.
These results come as the stock has pulled back by over 5% from its highest point this year. It has jumped by 126% from its lowest level last year, mirroring the performance of other European banks.
The most recent results showed that Santander’s net interest income dropped by 0.3% to €10.59 billion in the second quarter. Its total income fell to €14.5 billion, while its profit before tax fell to €4.41 billion.
The results come as investors have been concerned about it $55 million exposure to First Brands, an American company that filed for bankruptcy recently. The company is also about to close its TSB buyout in the UK.
Banco Sabadell (SAB)
Banco Sabadell is another top company in the IBEX 35 to watch this week. Its stock was trading at €3.1, down by 9.2% from its highest point this year. It hs jumped by over 88% from its lowest point this year.
Banco Sabadell stock has been in the past few months as it fended a hostile takeover from BBVA. It won this battle as BBVA secured less than 26% of the vote.
Sabadell argued that the deal undervalued its business, meaning that it will now need to prove its worth by reporting strong results. Its stock will be in the spotlight as it publishes its financial results on Monday.
Iberdrola (IBE)
Iberdrola is another top IBEX 35 stock to watch this week as it releases its numbers on Tuesday. For starters, Iberdrola is a major energy company that serves over 100 million customers worldwide. It has over 500,000 shareholders and is one of the top players in the clean energy industry.
Iberdrola stock price has jumped by 40% from its lowest point this year and is now trading at it all-time high. This happened as the company reported record earnings, with it net profit jumping to over €3.52 billion in the first half of the year.
Its management expects to make over €7.6 billion in annual profits and to pay €20 billion in dividends between 2024 and 2028. Therefore, the Iberdrola stock price will react to its earnings this week.
CaixaBank (CABK)
CaixaBank, like other top European banks, has done well this year as its earnings have done well. It has jumped by over 83% from its lowest level this year.
The most recent results showed that its net interest income was €5.28 billion, down from €5.57 billion in the same period last year, while its profit after tax jumped to €2.95 billion. Therefore, its stock, which has pulled back a bit this month, will react to the earnings report on Friday.
The other top IBEX 35 stocks to watch this week will be Repsol, BBVA, and Ferrovial. Additionally, the index will react to the upcoming Federal Reserve (Fed) and European Central Bank (ECB) interest rate decisions, as well as the meeting between Xi Jinping and Trump.
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