2023-08-21 07:10:00
The European stock markets open the session with rises. The EURO STOXX 50 presents gains of 0.25% to 4,223.25 points, while the Dax moves with increases of 0.16% to 15,600.85 points, CAC 40 gains 0.51% this Monday and stands at 7,200 points and the London FT100 with increases of 0.19% to 7,273.31 points. The Ibex 35 rises 0.38%, to 9,300.37 points.
Among the values that rise the most in the openings are Grifols A, which advances more than one percentage point, to 13.4150 euros. Melia Hotels accompanies it by scoring just over 0.7% while Repsol advances just over half a percentage point, to 13.9250 euros.
The values with stronger corrections have Telefonica as the leader in this Monday’s session. The operator leaves 0.3%, on 3.6130 euros.
A few steps away, the shares of Cellnex are listed, which are down 0.2%, to 34.28 euros, while Inmobiliaria Colonial is trading with falls of 0.19%, to 5.2650 euros.
Among the greats of the Ibex 35, Banco Santander advances 0.15%, to 3.5555 euros. Iberdrola is trading slightly negative at 10.62 euros. BBVA advances 0.28%, to 7.0800 euros and Inditex rises 0.18%, to 34.05 euros.
The rest of the banks trade with a mixed tone. Banco Sabadell corrects slightly above 1.0995 euros, Caixabank discounts 0.3% of its price, Unicaja advances 0.89% at the opening while Bankinter shares add 0.17%, up to 5.9540 euro.
At a corporate level, Expansion publishes that Endesa will deploy wind projects of more than 1,000 MW in Galicia.
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In the continuous market, the greatest advances were recorded by eDreams ODIGEO, which rose more than 2.4%, to 6.30 euros. Clinica Baviera advances 2.27% while CAF rises 1.7%, to 31.25 euros.
Neinor Homes are listed in negative, which left more than 3% at the opening followed by Urbas and GAM, which lost more than 2% in the first minutes of trading, up to 0.0040 euros and 1.4300 euros, respectively.
Wall Street futures slightly negative…
The indices closed the week negatively once more, with falls of more than 2% in Wall Street and most European indices. The stock markets tend to undergo corrections of between 5% and 10% several times a year, so the current one, if it doesn’t go any further, should soon be over, having already suffered many of the main European stock indices. and the United States significant setbacks, which fall within the aforementioned interval. The high level of oversold in many stocks and indices encourages us to think that this may be the case.
Wall Street futures are trading lower following closing last week mixed. At this time, the Dow Jones future yields 0.01%, over 34,496 points, the future of the S&P 500 it yields 0.07%, to 4,366.90 points, while the NASDAQ 100 remains slightly negative at 14,687.50 integers.
Mixed sign today in the main Asian indices. He Nikkei rises 0.5%, the Hang Seng Hong Kong loses 0.9% and the Shanghai Composite quote flat.
The news of the day comes from China following the Asian giant has cut its one-year interest rates, from 3.55% to 3.45%, as expected, in an attempt by the authorities to double their efforts. to estimate the demand for credit. However, the market was surprised that the five-year rate was unchanged at 4.20%.
At a macro level, this morning it became known that Germany’s producer price index fell 1.1% in July, the Federal Statistics Office said on Monday. A Archyde.com poll of analysts had expected the figure to fall 0.2% in July. In June the index had shown a decrease of 0.3% In year-on-year terms, the figure fell by 6.0%.
Today at 12 noon the monthly report of the Bundesbank will be released, an appointment that receives special attention when it comes to forecasts for the German economy.
…and bond yields continue to rise
References that will be known before the big appointment of the week, the annual meeting of central bankers in Jackson Hole. All at a time when the US economy is accelerating, which for the moment removes the possibility that the Federal Reserve (Fed) will consider starting to reverse rate hikes, and this despite the fact that the deflation process seems keep going in the right direction. “All this has provoked, justified or not, a sharp rise in long-term US interest rates -the rate on the 10-year Treasury bond marked its highest level since the end of 2007 last week-, something that has also spread to Europe out of “sympathy”. As usually happens when long-term interest rates rise so sharply, equities have been severely penalized,” says Juan José Fdez Figares, an analyst at Link Securities.
At this time, the yield on the ten-year United States bond rises to 4.303% while that of the German bond rises to 2.6465%. Spain’s ten-year bond raises its yield to 3.702% while the Italian sees its yield reach levels of 4.353%.
Oil price rises as global supply is tightening with exports from Saudi Arabia and Russia declining, offsetting lingering fears regarding global demand growth amid high interest rates. At this time, the Brent oil future is up 0.6%, above $85.31, while West Texas is up 0.6%, to $81.16.
In the foreign exchange market, the Euro rises timidly once morest the dollar, up to 1.0878 units. While cryptocurrencies, Bitcoin remains flat at $26,064.6 and Ethereum loses 0.75%, above $1,677.27.
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