Capricorn 35, live | Stock markets are negatively awaiting the resumption of activity on Wall Street | Financial markets

What does Ibex 35 do?

Euro Stoxx 50 futures are expected to open moderately lower. The Spanish stock market rose 0.59% yesterday and recovered 9,900 points after the close on Wall Street, which is recovering today.

What are the rest of the stock markets doing?

Mixed dynamics today in the main Asian indices. Nikkei falls 0.1%; Hong Kong’s Hang Seng added 0.04% and the Shanghai Composite added 0.1%.

Wall Street stocks return to trading today after the Presidents’ Day holiday. Last week ended in the red, breaking a five-week positive streak.

Keys of the day

• In Europe, the eurozone current account for December 2023 was barely published.
• The US publishes the January index of leading indicators, which is forecast to fall by consensus.
• Prime Minister Pedro Sánchez, accompanied by Industry Minister Jordi Jereu, closes the IV Forum of the Spanish Association of Automobile and Truck Manufacturers (ANFAC).
• The People’s Bank of China (the central bank) is cutting the five-year benchmark rate (used as the benchmark rate for mortgages) from 4.20% to 3.95%, which is higher than expected. While analysts had expected a contraction this month – the first since June last year – their forecasts put it at 15 basis points, or 4.05%.
• Business results are gaining momentum in Spain and Europe. Enagás today presented its figures showing profit after tax in 2023 of 342.5 million euros, representing a fall of 8.8% compared to the 375.8 million it generated in 2022.
• In the US, the parade is used by Palo Alto Networks, Home Depot and Walmart accounts.

What do analysts say?

In his weekly analysis of the foreign exchange market, Ebury notes that “the US CPI inflation report for January contained everything the Federal Reserve didn’t want to see: unexpected increases in both the major and core indices, and a clear sense that inflation was falling The trend we’ve seen for most of 2023 has peaked. Among the major currencies, the dollar was the best performer – with the sole exception of the Mexican peso – but the rally was surprisingly muted given the inflation news, with the dollar up less than 1% compared with all its G10 peers.” . And he adds: “The US economy has accelerated and inflation has risen. For now, markets have delayed until June the date when they forecast the first full contraction. This also appears to be a reasonable forecast, barring further surprises in the inflation data.”

In a strategic move, Banco Santander yesterday announced a significant increase in its cash dividend as well as a share buyback plan. Sergio Avila of IG states that “for shareholders, this means a 50% increase in cash dividends, giving them a greater return on their investment. However, the move could cause tension between the bank’s management and its employees, who may view increased dividends and share buybacks as an impediment to their demands for higher wages. Moreover, from a broader perspective, high dividends can be interpreted as an example of economic inequality, and share buybacks can be seen as stock price manipulation.

What is the evolution of debt, currency and commodities?

The euro is trading at $1.0768.

The interest rate on ten-year Spanish bonds rises slightly to 3.319%.

In the commodity market, Brent oil, the benchmark in Europe, costs $83.56 per barrel.

Quotes

STOCK EXCHANGE – CURRENCIES – DEBT – INTEREST RATES – RAW MATERIALS

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