Los valores del Ibex más alcistas por el 'efecto Brasil'
El Ibex despunta por momentos como el mejor índice bursátil de la jornada en Europa. Este impulso es fruto, en gran medida, de las subidas que se anotan las empresas españolas con mayor exposición al mercado brasileño tras conocerse los resultados de la primera vuelta de las elecciones en el país. Leer
The Ibex is making headlines today as one of the top stock indices in Europe, driven by rising shares of Spanish companies with significant exposure to the Brazilian market following the results of the first round of Brazil's elections. Political developments in the capital are causing a flurry of activity on the Spanish stock market, not only due to the confirmation of an electoral edge for the Spanish candidate but also because of the impact of Brazil's early election results.
A key factor behind the market's movement is the election of the right-wing candidate Flavio Bolsonaro, who secured 47% of the votes in the first round, surpassing incumbent President Luiz Inácio Lula da Silva, who garnered 45%. The absence of any candidate crossing the 50% threshold means a second round is set for October 25, with Bolsonaro and Lula as the sole contenders. This political uncertainty is expected to linger for three more weeks.
Despite this uncertainty, investors have already acted. The advantage Bolsonaro gained in the first round is seen as a potential shift in Brazil's government policies, with a likely move towards less interventionist economic measures and reduced public spending, according to analysts at Bankinter. Consequently, they anticipate a slight bullish impact on the Brazilian real and positive sentiment towards Brazilian bonds and stocks.
Investors are closely watching the Brazilian market response to these election results. Currently, Brazilian variable income ETFs are seeing a 12% rally. Among Ibex-listed companies, those with the highest exposure to the Brazilian market are leading the charge. Telefonica, a major telecommunications firm, has been the standout performer today, with a near-3% price increase.
This is attributed to its strong 35% EBITDA contribution from operations in Brazil, where it operates under the Vivo brand. Santander, another Spanish bank with a significant 15% EBITDA from Brazil, is also among the top gainers, with its shares climbing by nearly 3%. Mapfre, a third company benefiting from the Brazilian market exposure, is also in the spotlight, with its gains driven by the same factors.
Written by urgent.news from Expansion ES's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
