MADRID, 22 May. (EUROPA PRESS) –
The Ibex 35 Technical Advisory Committee will hold an ordinary meeting on June 9 to review the composition of the selective, an appointment in which changes could occur, with Sacyr, Acciona Energía and Unicaja Banco among the favorites to be part of the Spanish index, according to analysts consulted by Europa Press.
To make its decisions on the composition of the Ibex, the Technical Advisory Committee takes into account the trading volume in euros in the order market during the six months prior to the meeting (control period) and analyzes aspects such as the number of trades contracted or possible changes in the shareholders, in order to guarantee the quality of said volume.
Likewise, only securities with an average capitalization greater than 0.30% of the average capitalization of the selective during the control period can form part of the Ibex 35. The technical standards establish different coefficients to be applied to the average capitalization of each security to penalize those with less free float.
Taking this into account, Banco Sabadell analysts affirm that they “expect changes” at the meeting on June 9 and have Sacyr and Acciona Energía, a company that has been listed since July 2021, but that “has limited liquidity and its parent company, Acciona, already on the Ibex 35”.
In addition, they point out that Almirall and CIE Automotive could leave the Spanish selective, while they expect an upward weighting of the pharmaceutical company Rovi.
Other financial sources have indicated to Europa Press that Sacyr is in position 35 in the ranking of companies by negotiation, after surpassing CIE Automotive, and placing itself ahead of Logista and Almirall. Sacyr would also meet the capitalization requirement of 0.30%. It should be noted that the company said goodbye to the Ibex 35 in June 2016.
The same sources point out that, taking into account all the requirements, there would be four Ibex 35 companies that would no longer meet the requirements: PharmaMar, Meliá, CIE Automotive and Almirall.
In addition, they recall the possible takeover bid by Siemens Energy for its Spanish subsidiary Siemens Gamesa, which would remove this company from the selective.
For his part, the XTB analyst, Manuel Pinto, does not consider that there will be significant movements, despite the fact that it is a date in which changes usually occur within the composition of the Ibex 35. “Volatility is being the protagonist in the markets and the variation in volume and weight is still very high”, says the expert.
Regarding Sacyr, although it has a “very high” trading volume, it would continue with a capitalization “slightly below the minimum required”; in the case of Acciona Energía, the “ballast” would be reflected in the part of the negotiation.
On the other hand, the XTB analyst includes Unicaja Banco in the pools to make the leap to the Ibex 35, as it has a capitalization and trading volume “higher than other entities” of the Madrid index.
Pinto also points out that, in terms of governance, Unicaja Banco “seems to have left behind the internal problems that penalized its listing”, while belonging to a sector that, according to the scenario forecast for the coming months, “could have a growth greater than other present values”.
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