Yesterday’s session on the European stock markets was one of mere transition and little activity, with the main indices moving throughout the day in a narrow price range, going slightly from less to more, to close the day with slight gains. At the sectoral level, it is worth noting mainly the good performance of the banking sector yesterday on the stock market, they closed the day with strong advances.
This Wednesday, the main European indices, with the exception of the Spanish one, open with slight falls, with many investors waiting to find out what the Fed’s intentions are regarding interest rates.
Thus, the European stock markets collect the good figures from Inditex and the bad ones from China. He DAX loses 0.04% in the 15,987, the FTSE 100 it falls 0.23% at 7,610.68, the CAC 40 cuts 0.15% to 7,197 and the EURO STOXX 50 falls 0.06% to 4,292.55 points. On the positive side, only the IBEX 35 is saved from burning, which rises 0.40% at the opening to 9,348 points, with Inditex gaining more than 4.4% on the stock market (it is the value that rises the most in the Euro Stoxx).
Inditex closed the first quarter of its fiscal year (between February 1 and April 30) with a net profit of 1,168 million euros, an increase of 54% compared to the same period last year.
UBS plans to finalize its agreement with the Swiss state to cover up to 9 billion Swiss francs in losses from its emergency acquisition of Credit Suisse by June 7.
Lloyd’s is about to launch a £600 million auction of the Telegraph newspapers and Spectator magazine.
ArcelorMittal North America announced on Tuesday that it will supply General Motors with steel that is recycled and produced in a renewable way.
Diageo, The world’s largest spirits company is concerned that climate change will make the one essential ingredient to make all its alcoholic beverages in short supply: water.
the automobile stellantis announces changes in its management team that will be implemented as of July 1.
Chinese exports fall
This morning the China trade balance in May, whose surplus was the lowest in three months. In May, both Chinese exports and imports fell in year-on-year terms, with the former performing significantly worse than expected by analysts as a result of weak global demand. Specifically, in the month of May the lower international demand caused exports from the Asian giant to plummet by 7.5%, a figure that is far from the slight fall of 0.4% that the market had predicted. Imports also registered a contraction of 4.5%. These data have accelerated the taking of capital gains in one of the star indices of recent dates, the Nikkei. At the close of the session, the reference indicator of the Tokyo Stock Exchange has lost 1.82%.
Oil Futures price extended losses, cutting gains on Saudi Arabia’s pledge to deepen production cuts, as concerns over global economic headwinds overshadowed Saudi Arabia’s pledge to deepen production cuts of production. He Brent The benchmark in Europe fell 0.56% to $75.86, while West Texas fell 0.59% to $71.34 a barrel.
Wall Street closed higher yesterday Tuesday. The Dow Jones rose 0.03% to 33,573.28, while the S&P 500 gained 0.23% to 4,283.73. The Nasdaq Composite added 0.36% to 13,276.42. Today Wednesday, US futures trade with slight falls of between 0.05 and 0.12%.
The top U.S. securities regulator sued cryptocurrency platform Coinbase on Tuesday, the second lawsuit in two days against a major cryptocurrency exchange, in a dramatic escalation of the industry’s crackdown that could drastically transform a market that has traded heavily. measure outside of regulation. Bloomberg says the US SEC’s action on Binance and Coinbase has “crushed” the wealth of crypto billionaires after the big bounce of 2023. Still, today Bitcoin is up more than 4% to $26,833.3.
He euro it falls 0.08% and changes to $1.0683. For his part he gold it is down slightly to $1,979.
Today we await a monetary policy decision from the bank of canada after yesterday’s surprise in Australia that raised rates another 25 basis points. And of course, investors are already looking forward to next week’s ECB and Federal Reserve meetings.
In the diary Today we will see industrial production for April in Germany and the Halifax house price index for May in the UK. France reports the trade balance for May and Italy, retail sales for April. In Spain, the National Institute of Statistics publishes the housing price index for the first quarter. The OECD publishes its semi-annual outlook report. And in the United States, we will know the trade balance for April.