Capricorn 35, live | European stock markets expect recovery after new high for S&P 500 index | Financial markets

AdminFebruary 8, 2024

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What does Ibex 35 do?

Euro Stoxx 50 futures are expected to rise slightly. The Spanish stock market fell by 1.15% yesterday and lost 9900 points. Investors are again wary that a rate cut may not be imminent following the new announcements.

What are the rest of the stock markets doing?

Asian stock markets rose, excluding Hong Kong, where Alibaba shares fell nearly 7% after quarterly results fell below expectations. Today’s meeting was the last one before the Chinese New Year celebration.

Wall Street closed in the green, and the S&P 500 index set a new record at 5,000 points. Investors put aside the issue of monetary policy and focused on the latest quarterly results, which analysts say generally beat expectations.

Keys of the day

More business results. ArcelorMittal, listed on the Ibex 35 stock exchange, presents its financial statements.
The European Central Bank (ECB) publishes an economic bulletin. In addition, there are statements from members of the organization such as Frank Elderson (at 15:15 Spanish time) and Philip R. Lane (at 16:30).
In the US, as every Thursday, there are requests for unemployment benefits. “Although the unemployment rate remains close to the level of the last 50 years, job offers and resignations could be seen stabilizing last week,” comments Joaquín Robles of XTB.
Chinese authorities have appointed Wu Qing as the new chairman and head of the Communist Party (CCP) China Securities Regulatory Commission (CSRC), it has been revealed, as Beijing intervenes to try to end the recent conflict. fall in the country’s stock markets.
The Consumer Price Index (CPI), China’s main inflation gauge, fell 0.8% year-on-year in January, representing the fourth straight month of decline and a new step in the deflationary trend, standing 0.5 points below the CPI ( CPI), which is the main indicator of inflation in China. December mark.
Auto sales in China rose 47.9% year-on-year in January to about 2.44 million units, according to the China Association of Automobile Manufacturers (CAAM).

What do analysts say?

Flavio Carpenzano of Capital Group believes that “if inflation and interest rates fall as expected, both stocks and bonds will benefit. And if growth slows after inflation returns to nearly 2%, bonds could provide more resilience, as would be expected in a down market. I think the bonuses basic They can offer more diversification than in the last ten years because higher initial yields mean more room for bonds to recover if risky assets come under threat. “There are certainly risks to this vision, such as a new acceleration in growth leading to a new acceleration in inflation.”

Ben Ritchie, head of developed markets equities at abrdn: “There are options in Europe, but the most interesting sectors are industrials, technology, healthcare, luxury goods, specialty chemicals and pharmaceuticals, basic consumption. These industries will be driven by major global trends such as demographic shifts, the energy transition and increased business investment in technology. “Many European companies are also ideally positioned to benefit from growing and increasingly prosperous consumption in emerging markets.”