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Day, on the verge of being expelled from the Ibex 35

Day will be the next value that is expected to leave the Ibex 35 , after last June to do what is own Abertis –replaced by CIE Automotive–, because during the last few months has starred in a high volatility of their capitalization.

The Technical Advisory Committee (CAT) of the selective could take this same Monday the departure of the company's retail distribution of the main Spanish index. In the case of confirm, the distribution company would be out on the third Friday after the meeting of the CAT, when would his / her alternate.

Outside of the ‘Champions’ stock

The term that Bolsas y mercados Españoles (BME) grant to undertake changes among the members of the Ibex responds to a question of prudence with funds that replicate the index by using index portfolios, so that they have enough time to act. To the president of the CAT, Mikel Tapia, who occupies this leading position since the beginning of the year, “to be at the Ibex is like to play in the Champions league”, therefore, “logically”, there are companies interested in entering.

In the opinion of the analyst XTB Antonio Sales, while leaving the Ibex 35 is negative, for the Day can be quite effective by putting the view in the medium term because that will allow you to reduce the volatility of the asset. “If it comes out, it will be more quiet, will no longer be the focus and overshadowing the market, and many funds that have been pressing on the left in the background,” he stresses.

The possible substitutes

The analysts coincide in pointing out to several companies as potential candidates to replace Day. The names that sound, according to trading volumes, are MásMóvil, Ence, Logista, Almirall or Gestamp, which are also shown on several occasions her intentions of getting to occupy a position among the 35 companies most representative of the Spanish economy.

The Committee takes into account a number of requirements to decide if a value is eligible or not to enter the selective, including the criterion that the average capitalisation to compute must be greater than the 0.3% of the average capitalisation of the Ibex during the period of control --that is six months and, specifically for this meeting, from 1 June to 30 November--, as well as other liquidity-related, in some cases, are based on a certain subjectivity.

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