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Iberdrola reigns in the Ibex: it is crowned as the most valuable company after surpassing Inditex


He had been trying for several days and this Monday he finally succeeded. Iberdrola has surpassed the market capitalization of Inditex and has become the most valuable firm of the Ibex 35. The 'sorpasso' to those of Amancio Ortega has occurred after exceeding 71,720 million euros of capitalization.

The ascent to the first step of the 'podium' It has occurred thanks to the 1.4% increases registered this Monday. Actually it is trading at around 11.24 euros. If the rights of the 'scrip', which are also listed, are taken into account, its capitalization has reached 71,727.6 million euros.

Thus, the group is slightly over 75 million euros higher than Inditex, whose market capitalization at the close of Monday it stands at 71,651.82 million euros.

So far this year, those of Ignacio Galán more than 26% advance in the stock market and he currently has one of his best streaks. Of the last 26 days, only one has ended in red.

"The stock moves without resistance on its way so it seems feasible that we could end up seeing an extension of the profits up to the level of 12 euros"explains César Nuez, technical analyst at ForexNews.online and head of Trader Watch.

José María Rodriguez, technical analyst at ForexNews.online, spoke in a very similar line, assuring that when the resistance of $ 11.10 was overcome, it was placed "again in absolute free rise, with the bullish implications that this always has for any underlying in the same situation "

Inditex has held the top spot of the selective in recent years, and until now it had only been superseded at very specific times by Banco Santander. The financial company ranks third with a capitalization of just over 36.7 billion euros.

It is not the only 'sorpasso' that has occurred within the Ibex 35 in recent weeks. In early July Cellnex overtook Telefónica after reaching a market capitalization of just over 21,516 million euros.

Cellnex thus became the fifth company in the Spanish selective by market capitalization and the largest firm in the Spanish telecommunications sector.


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