Ibex closed strong, pushing it above 11,100.

European stock markets ended the first session of the week leading up to the French elections with strong gains, despite the German Ifo index being lower than expected. The Ibex index recorded an increase of 1.27% and starts tomorrow at 11,172.10 points.

The week began with a session during which shopping was forced on the main European squares. Investors are focused on weekend when key data will be published. Friday indicator Inflation in the USA The Federal Reserve prefers to set a start date for rate cuts at the time of detailed analysis of macro data. Forecasts indicate a modest slowdown in prices. And in the middle of the weekend the first round took place elections in Franceone of the factors that has recently been dragging down European stocks and even the euro.

A wave of polls over the weekend ahead of next Sunday’s election failed to lower his ratings. risk premium France, which over the past two weeks has become one of the variables subject to constant monitoring by investors. Today, the French risk premium is back at around 75 basis points, one step below the 2017 high reached after the early election was announced. Spain’s gap is close to 90 basis points, with the 10-year bond yielding around 3.30%.

The impact of political uncertainty on economy These are not the only hidden fears in Europe. China is increasing pressure on tariffs, and late last week the leading benchmark, the composite PMI, revealed an unexpected decline in the eurozone. Below-expected data published today in the journal IFO Index business confidence also adds to doubts about the expected resumption of activity in Europe.

Capricorn 35

Direct: Capricorn chart

Spanish stock market, however, ignored the prevailing doubts last Friday when the Ibex index fell 1.15%. Pending further news, the Spanish Selective Index recovered all it lost on Friday with a 1.27% gain that starts tomorrow at 11,172.10 points.

In the climbing section it stands out ACS, with a rebound of 3.13%. The company was caught by a bullish rally led by its German subsidiary Hochtief today, fueled by data center potential that Jefferies analysts have warned about.

Banks acted as support for Ibex today, bouncing back to offset some of the losses suffered in previous sessions. BBVA was overvalued by 2.20%, according to Sabadell (+2.43%). Unicaja grew by 2.39% and Santander1.71%.

Utilities, for their part, reacted mixedly on a day when Morgan Stanley analysts cooled expectations for growth options in the sector, even as rate cuts began. Naturgy (+3.48%) led the progress of the selection, while Enagas (-0.62%) – one of two values ​​that closed negative on the Ibex index, along with Indra (-2.12%).

European stock market

European shares ended the session strong despite political uncertainty caused by next Sunday’s French elections being joined by doubts about the reactivation of the European economy, as evidenced by the eurozone composite PMI released at the end of the week. . Worse-than-expected data from the German Ifo also does not help improve investor sentiment. Overall, the German Dax strengthened by 0.89%; French CAC – 1.03%; Italian Mib – 1.58% and British Ftse – 0.53%.

German Dax blamed the fix that affected Zalando. The online clothing and footwear retailer lost 4.5% after a disappointing report from Morgan Stanley analysts. Quite the opposite happened with another German company such as Hochtief. Shares of the ACS-owned company rose 10% following a Jefferies “buy” rating. In another German group, the increase reached 20.1%. Deutzafter announcing his entry into a growing business such as Defense.

Oil, Euro, Gold and Bitcoin

Companies most exposed to price impacts Oil They are supported by the stability of oil prices in the high zone for about two months. A barrel of Brent is holding above $84, while a barrel of West Texas, the US benchmark, is borderline at $81. Geopolitical tensions over clashes between Hezbollah and Israel and a possible extension of OPEC+ production cuts have fueled buying in the oil market in recent weeks.

He Euro exceeds the level of $1.07, and lb. The British one, in turn, is close to $1.27.

He gold rebound and exceeds $2,340 per ounce. The cryptocurrency market is much more bearish. He bitcoinIt continues its decline until it threatens the $61,000 barrier, with a 17% correction from its records.

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