The Ibex 35 had a very atypical 2023. For the first time in its thirty-year history, no company entered or left the index, so it ended up with the same values with which it had started the year. This will not happen again in 2024, since Puig participated in an extraordinary meeting last July in which Meliá was excluded from the index. Of course, it will not be a year of many changes either. For the moment, no news is expected to be announced at the review that will take place next Thursday.
The committee that oversees the composition of the Bouquetin (the technical advisory committee or CAT) meets this September 12 and there is no suggestion that there is even room for discussion among its members. No company listed on the Spanish Stock Exchange has sufficient liquidity that exceeds that of the companies that currently make it up. And this liquidity is the main key to enter the index.
There is also no reason for there to be an exclusion in September, a month in which, in addition, meetings are classified as “follow-up”, with changes being reserved more for appointments in June and December. However, Renta 4 agrees that they do not expect any changes for this Thursday.
The next meeting will take place in December, and the company that currently presents the most options is Vidrala, due to its negotiations in the last six months and because it meets the minimum capitalization requirements. The latter is something that will make it difficult for Meliá to return to the index, despite the fact that its hiring is higher than that of the hotel company. Viscofan will also be on the list of candidates.
Although today no company is in danger of leaving the Ibex, we must not forget that BBVA’s public takeover bid (OPA) for Banco Sabadell is still ongoing, which if it were to be carried out (and even if it continued to be listed) could damage its liquidity and Brookfield’s interest in launching a bid to purchase Grifols and delist it from the stock exchange.
