Sunday, November 29, 2020
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Real Estate Companies Take Advantage of the Boost from BBVA and the Vaccines to Regain Ground on the Stock Market

The Ibex has risen by 2.6% (to 7,986 points) driven by a push from the banks and the most high-profile Socimis, such as Colonial, Merlin and Grupo Lar, whose share prices have increased by more than 6% in some cases.

Progress with the development of vaccines is accelerating the recovery in Europe, and the Spanish Stock Exchange is taking advantage of the favourable situation to fuel its rise. Following the news of BBVA’s operations (the firm sold its business in the US for 9.7 billion euros this week and confirmed its possible merger with Sabadell), the Ibex 35 once again led the increases in Europe, after recording its second best ever weekly rise last week, up by 13.3%.

In this way, even before the data about Moderna’s vaccine was released, the index was up by almost 2%. Minutes later, off the back of that news, the rise exceeded 4%, and it closed with an increase of 2.6%. With this boost, the Ibex 35 again approached the 8,000 point threshold for the first time since March.

Read the full article in Spanish.

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