Inyanga kaJanuwari ibe nenhle kakhulu enkombeni ekhethiwe yezimali zamazwe, i-Ibex 35, ebuyise kabusha isiteshi se-bullish okungenani esikhathini esifushane. Umfutho wayo usukhule kusuka emazingeni amaphuzu angama-8500 futhi yonke into ibukeka njenge I-rally ye-bullish amaholide kaKhisimusi afike nokubambezeleka okuthile, kepha ngokuqinisekile hhayi ngaphandle kokuqina. Lapho wonke amanani ezimakethe zamasheya aseSpain azisa kakhulu, kwezinye izimo zingaphezu kwama-20%.
Akekho owayecabanga ukuthi izimali zamasheya ziqale kulo nyaka ngalokhu umfutho ekukhuphukeni. Akumangalisi ukuthi iningi labatshalizimali abancane nabaphakathi bebengekho ezimakethe zezezimali ngenhloso yokuthenga ngenani eliphansi kakhulu kunalokho ababenakho ekupheleni konyaka odlule. Lokhu kuhamba, ngakho-ke, kumangaze wonke umuntu futhi kungenzeka ukuthi sekuvele sekwephuzile ukungena ezimakethe zezezimali ngalesi sikhathi.
Ngokomthetho konke kubonakala kanjalo kumayelana nokubhampa, kepha ngamandla amakhulu futhi lokho kusengaba nendlela ende eya phezulu. Kodwa-ke, uma idlula amazinga ayo wamaphoyinti angama-9800, kungasho ushintsho kuthrendi esikhathini esifushane naphakathi. Ngaphandle kwezilungiso ezinengqondo ongase ube nazo endleleni. Kuzoba ngesinye sezihluthulelo i-Ibex 35 esizosinika zona ukuze sithathe isu elilodwa noma elinye lokutshala imali, ngaphezu kokunye ukucatshangelwa kobuchwepheshe okungenzeka ukuthi le nkomba yesitoko ingathuthuka.
Ibex 35: amanani akhuphukayo
Umphumela wale nhlangano kumasheya kazwelonke ubusheshe. Ngokwazisa ngamanani afanele kakhulu. Kufike ezingeni lapho izinkampani ezibalwe ohlwini lwe- umkhakha kagesi Babekwe esimweni sokukhululeka samahhala. Lokho wukuthi, abasenakho ukumelana phambili ngakho-ke amandla abo okuhlaziya okwamanje aphezulu kakhulu. Njengasendabeni ethile ye-Endesa noma i-Enagás, okungezinye zezinto zokubheja zalo nyaka yingxenye enkulu yabahlaziyi bezezimali. Ngaphandle kokuthi base beqoqe imali eningi etholakele kusukela ngonyaka owedlule.
Ngakolunye uhlangothi, akunakukhohlwa ukuthi i-Ibex 35 yaqhamuka esimweni sobuthakathaka obukhulu nokuthi yayisesimweni sokuzibeka ngaphansi kwamaphoyinti angama-8500 XNUMX. Ushintsho olukhulu kakhulu emalini yezwe lethu futhi lokho kubambe iqhaza elihle kubatshalizimali abancane nabaphakathi nendawo ngonyawo olushintshile. Manje kusazobonwa ukuthi inkomba ekhethiwe yamasheya kazwelonke ingahamba ibanga elingakanani. Kunoma ikuphi, konke kubonakala kukhombisa lokho namanje kuzoba nokuhambela phezulu ngesikhathi semester yokuqala yonyaka. Lapho kungaba khona kumazinga aphakathi kwamazinga amaphuzu angama-9500 no-9800.
Ubudlelwano phakathi kwe-USA neChina
Esinye sezizathu zokuchaza lokhu kuhamba okungalindelekile okuphezulu yilo ukwenza ngcono ubudlelwano bezohwebo phakathi kwala mandla womnotho amabili. Kufinyelela ezingeni lokuthi isivumelwano esikhiqiza kakhulu singafinyelelwa ezinyangeni ezizayo. Isici ngokungangabazeki esinikeze umfutho oqinile ezimakethe zamasheya emhlabeni jikelele. Ngakolunye uhlangothi, asikwazi ukukhohlwa ukuthi kunezinye izinto eziholele izimali ekuthengeni izikhundla.
Ngalo mqondo, kubalulekile ukugqamisa iqiniso lokuthi emasontweni edlule kube nohlobo lwesivumelwano esintekenteke phakathi kwe-United States neChina empini yezohwebo lezi zingxenye zomnotho wamazwe omhlaba ezibandakanyeka kuyo. Njengoba kuye kwamangaza kakhulu ukuthi uhulumeni waseWashington ukuhlehlisile ukunyuka kwentela ngama-dollar ayizigidi ezingama-200.000. Yize kunjalo, iBeijing iyavuma ukuthenga "inani elikhulu" lemikhiqizo yaseNyakatho Melika. Kunoma ikuphi, enye impi yengqondo eqhutshwa yilawa mazwe amabili amakhulu emhlabeni.
Isibikezelo emakethe yamasheya kazwelonke
Ngomqondo ohlukile, ovela emnyangweni wokucwaninga nokuhlaziya we-Bankinter basebenzisa amathuba ahlukahlukene lapho inkomba ekhethiwe yemakethe yamasheya yaseSpain engadlula ngayo kulo nyaka okhona. Ngale mibono, “esimweni sethu sokuqala, sibuyekeze inani lentengo ebesilibhekise lafika kumaphoyinti ayi-10.712 (kusuka kumaphoyinti ayi-11.781 XNUMX alinganiselwa kuJuni). Lokhu kulungiswa kusuka ezimweni ezilandelayo ezikhomba kuleli qembu lezezimali.
Un ukunyuka okuncane ku-IRR yesibopho seminyaka eyi-10 ngesikhathi se-trimester. Ngokuqondile, isivuno sebhondi sikhule safinyelela ku-1,49% sisuka ku-1,44% ngaphambilini.
El I-EPS ilinganisela ukusika ukuvumelana kwe-2019 (-0,6% kuya ku-827,4 euros) kuqhathaniswa nalokho obekulinganiselwa ngoJuni.
Una imali ephezulu yobungozi (6,2%, uma kuqhathaniswa no-5,35% phambilini) okubandakanya ukulahlekelwa umfutho esilinganisela ukuthi umnotho waseSpain ezindaweni ezizayo.
Ukulungiswa okuphansi kwemodeli yokulinganisa phansi-up.
Ukubuyekezwa phansi kwe-Ibex 35
Ngaphansi kwalezi zimo, ukuhlaziywa kwaleli bhizinisi lezezimali kukhombisa ukuthi kufanele sibheke ukusika okungu -10% ukuze silindele ikusasa ukubuyekezwa phansi kwezinzuzo ezisetshenziswe kumamodeli wokulinganisa wezinkampani ze-Ibex. “Kufanele kukhunjulwe ukuthi onobuhle i-Top Down (I-Objective PER, phakathi kwabanye) ifaka izinguquko kumathemba okukhula ngaphambili ngenkathi abahlaziyi abancane (ukuhlaziywa iphezulu elingaphansi) bavame ukusabela masinyane ”kuchaza abahlaziyi bezimali zaleli qembu lezezimali.
Lokhu kuncane kakhulu okushiwo abanye abahlaziyi abagxile ezimakethe zezimali, bephakamisa ukuthi ukubuyekezwa okuphansi embonweni wemakethe yamasheya kazwelonke kungaba yinto ejwayelekile. Okuthile okungagcini ngokubi uma umuntu ebheka inkomba izimakethe zamasheya zomhlaba wonke ezazithatha ekupheleni konyaka odlule. Lapho i-Ibex 35 isondele ezingeni le- Amaphuzu we-8.500. Kusukela i-9.200 okukulezi zikhathi eziqondile.
Ingozi yesicupho se-bullish
Kunoma ikuphi, kubaluleke kakhulu ukubona ukuthi lokhu kukhuphuka okwenzekayo ezimakethe zezimali emhlabeni jikelele kungaba yisihibe. Akumangalisi ukuthi kubangela ukuthi ingxenye enhle yabatshalizimali abancane nabaphakathi bangene ezimakethe zezezimali ngaphambi komuzwa wakhe jikelele. Ngengozi esobala yokuthi bangabanjwa ezikhundleni zabo. Lokho kusho ukuthi ngezintengo ezicashuniwe zikude kakhulu nentengo yokuthenga. Le yinto eyenzeke ngokomlando futhi engakudalela inkinga engaphezu kweyodwa kusukela manje kuqhubeke.
Vele, awungeke ukhohlwe ukuthi ukuthambekela okuyisisekelo ezimakethe zezimali kuseyi-bearish futhi lokhu kuyinto engangatshazwa ngalesi sikhathi. Okungenani kuze kube yilapho amazinga osekelo wokubaluleka okuthile engadlulwa nokuthi kwasekuqaleni atholakala ku- eduze namaphuzu we-9.800. Ngalo mqondo, luselude ukhalo okusamele luhambe kanti mancane amathuba okuthi lezi zinhloso zizuzwe esikhathini esifushane ngabatshalizimali abancane nabaphakathi naphakathi. Kunoma ikuphi, kuyingozi okufanele ucabange ukuthi inhloso yakho ngalesi sikhathi ukubuyela ekuthatheni izikhundla ezimakethe zamasheya.
Nciphisa izikhundla ezimakethe zamasheya
Ngokuphambene nalokho, lokhu kukhushulwa kungasetshenziselwa ukunciphisa izikhundla zakho ezimakethe zezimali. Ngakho-ke okuyingxenye noma okuphelele kuya ngecebo lokutshala imali ozolisebenzisa kulo nyaka. Ukusizakala ngama-spikes ngamanani wamasheya ezinkampani ezibalwe. Ukuze ngale ndlela, ukunyakaza kwakho kungalungiswa ngokufanele lapho kubhekene nokungazinzi ezimakethe zezimali ezinsukwini ezizayo noma ngisho nasezinyangeni ezizayo. Kuyisu lokuzivikela elihlose ukugcina imali yakho ngaphezu kokunye ukucatshangelwa kwezobuchwepheshe.
Ngakolunye uhlangothi, awukwazi ukukhohlwa ukuthi kungcono jabulela inzuzo enkulu kukhiqizwe ngaphambi kokuthi ulahle ama-euro amaningi endleleni. Ngonyaka lokho kubonakala kuyinkimbinkimbi kakhulu kulezi zimpahla zezimali. Lapho nganoma yisiphi isikhathi ungaqala ukunyakaza kwe-bearish ezimakethe zamazwe zamazwe zokulingana. Ngokuqina okungamangaza ingxenye enhle yabatshalizimali abancane nabaphakathi. Ngaphandle kokunye ukucatshangelwa kobuchwepheshe futhi mhlawumbe futhi kusukela ekubukeni kwezisekelo zayo. Ungakhohlwa uma ufuna ukunikeza ukuphepha okukhulu ekusebenzeni kwakho emakethe yamasheya.
Ekugcineni, akufanele ukhohlwe ukuthi lezi zinyanga zokuqala zonyaka zivame ukuthandwa kakhulu yizintshisekelo zezimakethe zezimali. Ngokwesintu bekulokhu kunjalo kanti nakulo nyaka bekungesikho okuhlukile. Akunakulibaleka ukuthi i-Ibex 35 yaqhamuka esimeni sobuthakathaka obukhulu nokuthi yayisesimweni sokuzibeka ngaphansi kwamaphoyinti angama-8500 XNUMX. Ushintsho olukhulu kakhulu emalini yezwe lethu futhi lokho kubambe iqhaza elihle kubatshalizimali abancane nabaphakathi nendawo ngonyawo olushintshile. Manje kusazobonwa ukuthi inkomba ekhethiwe yamasheya kazwelonke ingahamba ibanga elingakanani. Ungakhohlwa uma ufuna ukunikeza ukuphepha okukhulu ekusebenzeni kwakho emakethe yamasheya.