FRANKFURT, Germany.— On Monday, the main European markets closed with gains, among which the following stand out: selectivo FTSE MIB of the Milan Stock Exchangewhich concluded trading with a gain of 1.58%, while the euro recovered the 1.07 dollar barrier.
The euro recovers 1.07 dollars
The euro recovered this Monday barrier of 1.07 dollarson a day in which it was learned that the Business confidence in Germany fell in June due to lower expectations due to difficulties in overcoming the economic stagnation.
The single currency was trading at $1.073 at 3:00 p.m. GMT on Friday, up from $1.0682 last week, when political decisions continued to weigh on European assets and business optimism, analysts at the exchange said. fintech Ebury.
He European Central Bank (ECB) set the exchange rate at $1,073.
Investors focused their attention on Monday on business confidence in Germany, which fell seven-tenths of a point in June following remaining unchanged in May due to lower expectations regarding the country’s lack of economic recovery.
The business confidence index stood at 88.6 points in June, compared with 89.3 in May, the Economic Research Institute (Ifo) reported on Monday.
Expectations fell from 90.3 points in May to 89 in June, while the assessment of the current situation remained unchanged from the previous month, at 88.3 points.
All this at the start of a week in which the macroeconomic situation in Europe will gain importance.
In the Old Continent, inflation data will be released for Spain, Italy and France, as well as the PPI for the latter country, retail sales for the latter and for Germany, where unemployment will also be reported.
Milan Stock Exchange up 1.58%
The Milan Stock Exchange closed higher and its selective index FTSE MIB grew up 1.58 %standing at 33,834.91 points, thanks to the large gains of the banking sector, whose main stocks rose by almost 5%.
The FTSE Italia All-Share index rose 1.56% to 35,566.78 points.
Some 441 million shares worth around 2.38 billion euros changed hands during the session.
The first weekly session has served as a recovery for European markets, which, following falling on Friday, closed higher once more, in a context of European uncertainty in the face of the upcoming elections in France.
The banking sector led the gains, with Banca Populare di Emilia-Romagna leading the index, up 4.99%, ahead of Banca Monte dei Paschi di Siena (4.01%), Banca Populare Sondrio (3.98%), Banca Unicredit (3.85%) and car company Pirelli (3.10%).
The multi-services company Hera closed in red, with a drop of 0.61%, ahead of the electronic components and semiconductor company Stmicroelectronics (0.41%), the beverage company Campari (0.40%), the energy company Italgas (0.13%) and Erg, which lost 0.08%.
The Spanish stock market rises by 1.27%
The Spanish stock market rose by 1.27%, driven by the advance of the European markets and Wall Street, according to market data.
The national benchmark index, the IBEX 35gained 139.8 points to 11,172.1 points. In the year, it has accumulated a gain of 10.59%.
All the major stocks rose on the Spanish stock market: BBVA, 2.2%; Banco Santander, 1.71%; the electricity company Iberdrola, 1.15%; the oil company Repsol, 0.92%; the textile giant Inditex, 0.81%; and Telefónica, 0.49%.
The temporary increase in profits on Wall Street following its opening (the Dow Jones Industrial Average gained just over 1%) and on European markets at the end of the session favoured the rise in Spain.
The CAC-40 recovers 1.03%
The Paris Stock Exchange recovered from last Friday’s losses and its general index ended with a rise of 1.03%, allowing it to surpass the symbolic threshold of 7,700 points.
He CAC-40 The pair was above Friday’s closing level of 7,628.57 points throughout the session. In the first few exchanges, the advance was very limited and even during the first part of the morning it was on the verge of going into negative territory when it marked the minimum of the day with 7,629.27 points.
The rise accelerated in the late morning and even more so with the start of trading on Wall Street, when the trend indicator marked the high of the day at 7,725.28 points.
In the last two hours of trading, the CAC experienced few fluctuations and closed at 7,706.89 points, meaning that it has appreciated by 1.96% in one week.
However, the French market has lost 4.59% over the past month. Since the beginning of the year, the balance has been positive, with an increase of 2.35%.
The day on the Paris market was moderately active, with shares worth 3.036 billion euros traded.
On the stock front, the protagonist was the laboratory Eurofins, which suffered a 16.15% drop as a result of a highly critical statement from the Muddy Waters fund, which accused it of opacity.
The other falls in the index were much milder, such as that of the microchip manufacturer STMicroelectronics (-1.73%), the call centre company Teleperformance (-0.60%) and the electrical material manufacturer Legrand (-0.23%).
At the other end of the spectrum, the CAC-40’s biggest gainer was BNP Paribas (3.27%), followed by pharmaceutical company Sanofi (3.13%), Edenred (2.55%) and advertising company Publicis (2.06%).
DAX 40 advances by 0.89%
The main selective of the Frankfurt Stock Exchangehe DAX 40rose 0.89% on Monday to surpass 18,300 points despite business confidence in Germany falling seven-tenths in June due to lower expectations due to economic stagnation.
The DAX 40 closed the session at 18,325.58 points, gaining more than 100 points during the day, following closing last week in the red.
The MDAX index for medium-sized companies rose 1.61% to 25,703.64 points, while the TecDAX technology index gained 0.43% to 3,300.63 points.
The day on the German market was marked by the publication of business confidence in Germany, which fell seven-tenths of a point in June following remaining unchanged in May due to lower expectations in the face of the country’s lack of economic recovery.
According to a report by the Economic Research Institute (Ifo) on Monday, the business confidence index stood at 88.6 points in June, compared with 89.3 in May.
Expectations fell from 90.3 points in May to 89 in June, while the assessment of the current situation remained unchanged from the previous month, at 88.3 points.
The DAX 40 benefited from gains in car companies following the European Commission (EC) reported that it held a “constructive discussion” with China on Saturday regarding Brussels’ intention to apply an additional tariff of up to 38% to Chinese electric vehicle manufacturers.
In this context, BMW gained 2.73%; Porsche AG, 1.59%; Volkswagen, 1.43%; and Mercedes-Benz, 1.38%.
Alongside these stocks, polymeric materials company Covestro led the session, following advancing 5.11%; while energy company Siemens Energy, which announced a 1.4 billion euro contract in Saudi Arabia, advanced 4.02%.
At the other end of the spectrum, only three companies closed in the red: clothing retailer Zalando, which lost 3.86%; technology company SAP, with a drop of 0.88%; and energy company E.ON, with a drop of 0.08%.
London Stock Exchange up 0.53%
The London Stock Exchange went up 0.53 % at the end of the session, due to general increases, particularly among retail companies.
In this way, the main London index, the FTSE-100opened the week with an increase of 43.83 points to 8,281.55 points.
The secondary index FTSE-250, which groups together smaller and generally British companies, rose by 120.22 points, or 0.59%, to 20,562.57 units.
Retailers were the biggest gainers among the day’s biggest gainers. Fraser Group rose 3.85%, luxury brand Burberry 3.35% and sportswear brand JD Sports Fashion 3.05%.
However, the most notable rise was for the insurer Prudential, which rose by 7.32%. Also in the top five was the mining company Antofagasta, which rose by 3.06%.
On the other hand, the real estate group The Berkeley Group Holdings fell by 2.07%; the technology group Sage Group fell by 1.34%; and the electricity company National Grid fell by 1.11%.
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2024-07-03 19:59:09
