Stock market live | Capricorn hesitates and tries to save 11,100 points | Financial markets

AdminMay 13, 2024

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Stock market live | Capricorn hesitates and tries to save 11,100 points | Financial markets

What does Ibex 35 do?

The Ibex 35 index opens the week slightly down 0.2% but is struggling to stay above the 11,100 level it regained last week amid volatility from BBVA and Sabadell due to a hostile takeover bid.

Which values rise or fall the most?

The following values are growing the most:

Logistics: 1.1%

Grifols: 0.9%

AHI: 0.7%

Those who fall the most:

Axion Energy: -1.5%

Aksiona: -1.2%

Fluidra: -1.1%

Apart from Ibex, the standout performance was from Almirall, which rose 8% after reporting pre-market results. The Catalan pharmaceutical group ended the first quarter of 2024 with profits of 7.4 million euros, down 3.9% from a year ago, while net sales rose 6.6% to 247.4 million, driven by its dermatology business in Europe .

What are the rest of the stock markets doing?

Early in the morning in Spain, stock market indices in the Asia-Pacific region fell moderately.

Wall Street closed in mixed territory on Friday, with its leading gauge, the Dow Jones Industrial Average, rising 0.32% for its eighth day of gains.

Keys of the day

Throughout the week, investors will continue to pay attention to how BBVA’s takeover bid for Sabadell develops.
The Eurogroup meets today, the Ecofin meets tomorrow, and unemployment figures in the UK and inflation in Spain and Germany will be released. On Wednesday it will be the turn of Eurostat, which will publish data on employment, GDP and industrial production in the eurozone, and in the United States the dynamics of inflation in April will become known.
The week will end on Friday with inflation data for the eurozone as a whole, as well as a number of indicators for China (housing prices, industrial production, retail sales and unemployment).

What do analysts say?

XTB analyst Manuel Pinto: “The corporate publication season is coming to an end, and at the moment this is one of the main bullish arguments in the market, designed to clarify the risks of stagflation that seem to arise in an environment of economic weakness. and rising inflation.”

From MacroYield they comment that “after a week without significant market performance, which prolonged complacency, the week begins with risks on various fronts, in addition to ongoing conflict in the Middle East. From an economic perspective, Wednesday’s US inflation and retail sales data stand out and threaten (especially the consumer price index) to reignite monetary fears, as some Fed members reiterated on Friday as they stressed the need for caution. In addition, the US is expected to announce new tariff measures against China on Tuesday, reigniting a dangerous trade war. Finally, yesterday’s elections in Catalonia highlight the political uncertainty in Spain over the coming months.”

Link Securities notes that “although many investors have again begun to focus their attention and base their investment decisions on business performance, much of the market remains highly dependent on expectations that are continually factored into future behavior.” official interest rates and therefore continue to pay close attention to the behavior of inflation, especially in the United States, where the disinflationary process appears to have stalled. That’s why next Wednesday’s release of the April US consumer price index, which is the main event for investors this week, could be key to the behavior of stock markets in the short term.”