Sunday, July 3

The Ibex 35 turns around and trades with timid increases of 0.12%

The IBEX 35 started the day negative but at this time it rises a timid 0.12%, at 8,683 points. The worst is for Telefonica, which cuts 1.26% at 3.8655 euros, followed by Mapfre, with a fall of 1.18% to 1.7995 euros and the third that falls the most is Indra, 0, 84% at 9.4450 euros.

On the positive side, the greatest advances were for Siemens-Gamesa, 1.25% at 21.09 euros, Iberdrola rose 1.17% to 10.4050 euros and PharmaMar rose 1.12% at 56.06 euros.

Within the Continuous Market, increases for CEVASA, 3%, Iberpapel added 2.90% and Clinica Baviera increased 2.86%. On the negative side, the biggest falls were for Berkeley Energia, 5%, Squirrel Media fell 4.57% and Adolfo Dominguez fell 4.50%.

In European markets we see slight falls for the DAX, of 0.08% at 15,840 points, the CAC 40 rises 0.10% at 7,168 and the FTSE 100 falls by 0.05% at 7,416 points. The Italian stock market rose 0.05% and the EURO STOXX 50 advanced 0.21% at 4,293 points.

Last session of the year in markets such as Spanish, German or Italian, among others – tomorrow the stock exchanges integrated in the Euronext open half a session and London and Wall Street are open all day – we expect an opening without a clear trend in the stock markets Europeans, in an environment of very little activity.

The macro agenda for the day is also very light, highlighting only the publication in the US this afternoon of the number of new requests for unemployment benefits corresponding to the previous week, a figure that is a good approximation of the behavior of weekly unemployment in the country, and of the index that measures the monthly evolution of private activity in the manufacturing and services sectors in the Chicago region, the well-known like Chicago PMI. In principle, we believe that none of these indicators will be able by itself to move the markets today, according to analysts at Link Securities.

During yesterday’s session, the most striking thing was the weakness shown by the sovereign bonds of the Eurozone, a fact that caused a general rebound in their returns and that had as main “victims” the stocks classified as growth, specifically those of the technology sector, which tend to behave badly when long-term interest rates rebound, since this penalizes their valuations.

“We understand that the weakness of bonds at a time when in many countries of the Eurozone are breaking records of “positive” by Covid-19 It implies that investors take it for granted that this new wave will not have such a negative impact on the performance of the economies of the region as was initially expected, “they point out from Link Securities.

Experts point out that the divergence it is showing the strong increase in infections in relation to the increase in hospitalizations and deaths from Covid-19 It seems to confirm the greater benignity of the Omicron variant in relation to previous variants, as well as the positive effect of vaccines, which are efficient in limiting severe cases of the disease. All this is leading investors “to look beyond” the current wave of the pandemic and to begin to discount a rebound in economic growth during the first months of 2022. The main conclusion of the markets seems to be that Covid-19 has It has come to stay and that will become an endemic disease with which we will have to live, just as it is done with the flu or with the other coronaviruses that affect humans.

A focus of focus on the eurozone in the new year will continue to be inflation. Euro zone inflation forecasts below 2% in 2023-2024 are exposed to both downside and upside risks, Bank of Italy Governor Ignazio Visco said on Thursday. “(Inflation forecasts) below 2% in 2023-24 are, of course, exposed to both downside and upside risks,” Visco, a member of the Governing Council of the European Central Bank, said in an interview with the Italian newspaper La Stampa.

The ECB raised its inflation forecast this month but cut its growth outlook for 2022 as the COVID-19 pandemic and supply chain disruptions are holding back the euro zone’s economic recovery.

In Wall Street yesterday’s session was more positive, which allowed both the S&P 500 and the Dow Jones to close setting new all-time highs; the seventieth year so far for the first and the forty-fifth for the second.

Specifically, the DOW JONES Ind Average closed 0.25% higher at 36,488 points, the S&P 500 added 0.14% to 4,793 and the NASDAQ 100 rose just 0.01% at 16,491 points.

The Nasdaq Composite, on the other hand, closed the day slightly lower, in a day of very low trading volume. On Wall Street yesterday it was the defensive-cut sectors / stocks that performed the best during the session, with equity real estate, healthcare and profits leading the gains. In the opposite direction, energy sector stocks did the worst, despite the upward turn in the price of oil during the session, after learning that US oil reserves had fallen more than expected. preceding week.

Other markets

Today we see a mixed sign for Asian stocks. The Nikkei at this time gives 0.40% at 28,791 points, we see increases for the Shanghai compound, 0.62% at 3,619, the SZSE Component advances 0.99% to 14,799 units, on the other hand the Hong Kong’s Hang Seng subtracts 0.03% from 23,080 points. Seoul’s Kospi fell 0.52% at 2,977 points.

As for oil, Brent futures fell 0.69% at $ 78.66 and WTI futures fell 0.73% at $ 76.00.

The euro yields 0.23% in relation to the greenback and is exchanged for 1.1322 EUR / USD.

Bitcoin rises just over 1%, at $ 46,959.

Agenda

The day begins with the publication in UK Nationwide Home Price Index. UK home prices rose 10.4% year-on-year in December, mortgage company Nationwide reported Thursday. The November data had shown a variation of + 10.0%. Compared to the previous month, prices rose by 1.0%, after a variation of + 0.9% in November. The Reuters poll had expected prices to rise 0.5% on the month before in December.

In our country, Inflation soared to 6.7% in December, its highest level since 1989. Consumer prices in Spain rose 6.7% in December compared to the same month of the previous year, which is their highest annual inflation rate since 1989. The inflation rate in the 12 months to November was 5.5% , and analysts polled by Reuters had anticipated that the data for the last month of 2021 would be 5.7%. Prices increased 1.3% in December compared to November, compared to the 0.2% rise in December 2020, the INE said.

Electricity rates pushed the annual rate of the price index to its highest level in 32 years, the INE said, adding that food prices also rose significantly in 2021, after a general decline the previous year.

In USA, the focus of attention will be on the weekly claims for unemployment benefits.

Reference-www.estrategiasdeinversion.com

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