week 09/16/2006 09.10 / 2006
The Ibex 35 closed at 12,081.7 points, a drop of more than 100 points over the previous week. It seems that to the psychological level of 12,000 has endured this week. If it breaks, we go down to 11,800 which would be a good area to buy.
The CNMV has rejected Sacresa's bid for Metrovacesa to 90 euros a share. Sacresa now has until 13 to decide whether to withdraw its offer of 78.1 euros a share or service. Rivero has another offer to 80 euros per share can not be removed. The term the takeover ended the day 20. The recommendation is to buy to go to the OPA.
More recommendations:
Tefon buy about 12.80 - 13 euros. REPSOL
buy about 21.80 - 22 euros. ALTADIS
buy about 36 - 36.50 euros. FERROVIAL
buy about 58 to 59 euros. Avoid
Endesa (we traded very high) and real estate in general (except Metrovacesa on the issue of the OPA).
The oil has fallen sharply this week, as an interesting option would be to buy shares of oil companies hoping for a rebound in oil prices. Surely sooner or later end up the oil at levels of 75 euros a barrel.
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