Caixabank and Sabadell took advantage of the historic return of the Euribor in the year that is ending and were the two major stock market stocks that led the rises. Increases of around 60% which contrast with the fall suffered by the Ibex 35 as a whole. The Spanish selective plunged 5.5%.
According to data compiled by THE OBJECTIVE, Caixabank made progress during the 59.8%, placing itself at the forefront of progress. The Catalan entity benefited from the rise in interest rates operated by the ECB and the consequent rise in the Euribor and will start 2023 at 3.6 euros per share. Investors have rewarded the bank, since it has the largest volume of mortgage loans in its portfolio and, therefore, will be the financial group that will increase its income the most due to the increase in the maturities of variable rate loans.
Despite this assessment, experts still leave room for Caixabank to continue this trend in the new academic year and they give an upside potential of between 20 and 35% given the outlook that the Euribor will not stop. The indicator should reach 4%, a key factor for the entity to further fatten its margins.
Like Caixabank, Sabadell also took advantage of the new interest rate environment and increased its share price by 56%. With him, This is the second year that he has been placed at the top of the table.. In 2021, it was also the second most bullish company in the market, with an increase of 68%.
After this behavior on the stock market, Sabadell completely turns the page on the crisis he suffered in 2020 and this led him to open merger negotiations with BBVA. Conversations which did not succeed and which prompted the Catalan bank to launch a drastic adjustment plan to get back on track.
Repsol occupies the third largest stock market revaluation
In third position on the winners’ podium of the Stock Exchange, Repsol has seen its shares become more than 50% more expensive in twelve months. Energy, among other factors, was helped by the rise in oil and the recovery of its positive earnings.
The rest of the Ibex winners are mainly banks, which, like Caixabank and Sabadell, are seeing a marked improvement in their profit and loss account due to the rise in interest rates. Thus, Bankinter succeeded in advancing by 46%; Unicaja, more than 26%; and BBVA, 16%. Other companies, like Logisticianwith a 45% increase, or construction companies DHW Yes Sacyr They are among the big winners of the Stock Exchange, according to data from Infobolsa.
Instead, the red lanterns of the year are fluidra, Rovi Yes Cellnex. The first two, which led in earnings in 2021, could not maintain the trend, as Sabadell did, and suffered a real setback. Its shares fell 55% and 49%, respectively.
For its part, Cellnex has also been severely penalized by investors, since its price has depreciated by 37% in twelve months. Other companies, such as the pharmaceutical industry grifolsand Colonial real estate They were placed in front of the descents of the Spanish selective. The first suffered 34%, while the second, more than 20%.
The price crisis triggered by Ukraine and the uncertainty about the evolution of the economy weighed heavily on the stock market in 2022. Even so, The Ibex was the main stock market index that performed best. The Spanish Institute of Analysts, rightly, points out that the less unfavorable balance sheet of the Spanish selective is due to the weight of the banking sector, which has experienced strong increases. This organization points out that 2022 has been “a frankly bad year for global stock markets, especially North American ones”.
In this sense, the US technology stock market, the Nasdaq, experienced the most disastrous evolution, falling by 33%. For his part he Dow Jones of Wall Street left 8% of its value. And in Europe, the declines amount to 13% in Italy and 12% in Germany, also well above the Spanish floor.
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