Iberdrola and Endesa is it so in the middle of a tsunami that is not over yet. The complicated situation of the continuous rise, sustained over time and that does not seem to have an end in the price of electricity in the wholesale market, and the resulting consequences of the government’s actions to lower the price of the receipt on account of the “benefits fallen from the sky” They have caused its situation in the market to have worsened, to levels close to the worst of the pandemic crisis.
But focusing on the purely stock market aspects, we are going to compare the evolution of the Ibex 35 of both companies, their technical behavior and future recommendations on both companies, in an environment of still uncertainty, both on the side of daily records in the wholesale price of electricity and the solutions that serve them in the compensations that are now in parliamentary process.
At the moment Endesa has already met with the minister to seek solutions and this Wednesday Iberdrola will do so. From these measures and their economic impact on the companies dependent on their future stock market behavior.
STOCK MARKET PERFORMANCE
To get an initial idea of what the two stocks are suffering in the market – something their shareholders know better than anyone – We just have to look back to see how the worst of the coronavirus crisis happened. Its affectation then was due to the drift of the market.
But its regulated sector, for two selected values utilities of the first order, got a very restrained impact, so that, for example, Iberdrola was already listed in June of last year, after the debacle in March 2020, at current levels. AND Endesa recovered to current levels in full Covid-19 even earlier, in May 2020. Hence the scale of the setback suffered by both companies at the turn of the summer.
Their current X-ray goes through a look at how they stand inside the Ibex 35: We are talking about two of the eight values that are shown in negative in the Spanish selective at the end of last Friday. That is to say, only 22.8% of the Ibex 35 is down. And they occupy the places, third, in the case of Iberdrola with annual cuts of 16.19% and fifth in that of Endesa with falls since last January 4 of 12.04%. Double-digit cuts for both companies, which before this tidal wave on account of the electricity bill, were barely shown with cuts of 2% like Iberdrola or even in equilibrium with the market like Endesa.
Most negative balance for a Iberdrola, that however moves with a consecutive bounce of 9% in the last four sessions which minimizes, to touch 8%, the falls of the twenty preceding sessions listed for the stock. From the highs of the year, it has cut 22%. Regarding its market capitalization since the sales were unleashed on September 13, the value loses 5,214 million euros in capitalization, until the 60,070 closing of last Friday.
In the case of Endesa, their accumulated advances in the Ibex 35 barely touch 5% for the value, which gave, in the last twenty listed sessions, 9.6% with a worse progression than that of Iberdrola. Since the highs of the year, the company has lost 17%, while, since the fateful date of September 13, with the withdrawal of “profits from the sky” by the government, the loss in capitalization reaches 2,087 million up to 19,586 million in which they finished last week.
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