Mixed closure of the main European markets

FRANKFURT, Germany.— The main European markets they closed in mixed terrain this Monday’s day, with a advance of 0.59% on the IBEX 35the main indicator of the Madrid Stock Exchange, while the euro closed below $1,077.

The euro falls below $1,077

The euro fell below $1,077 this Monday, in a day without major macroeconomic data and in which Wall Street remains closed as it is a holiday in the United States.

The single currency was exchanged at 1.0766 dollars around 16:00 GMT this Monday, compared to 1.0771 dollars last Friday, while the European Central Bank (ECB) set the exchange rate at 1.0776 dollars.

All in a day in which there has been no major macroeconomic data nor have the markets counted on the reference of the New York Stock Exchange, which remains closed for the celebration of the Presidents Day in the United States.

In economic policy, the ECB has maintained a low profile after last Friday a member of the organization’s executive committee assured that monetary policy should remain restrictive until the organization was sure that inflation will return to 2% on a sustained basis. in the medium term.

“The recent long period of high inflation suggests that, to avoid being forced to adopt an intermittent policy similar to that of the 1970s, we should be cautious and not adjust our stance prematurely,” he said.

For his part, the BundesbankGermany’s central bank, confirmed this Monday that it expects the country to enter technical recession in it first quarter of 2024 due to the weakness of industrial exports and the prudence of consumers.

In their monthly report for February, central bank economists have assured that the German economy could decline slightly again in the first quarter of 2024, although they have ruled out a persistent and widespread decline in gross domestic product (GDP) over time. .

The single currency has been exchanged today in a fluctuation band between 1.0763 and 1.0788 dollars.

The Spanish stock market rises 0.59%

The Spanish stock market closed with a rise of 0.59% in a bullish session driven by large values ​​and banks.

The IBEX 35, the main selective of the Spanish stock market, advanced 58.4 points, that is, 0.59%, to 9,944.8 points, although during the year it has accumulated a fall of 1.56%.

The Spanish stock started with a slight drop, but a few minutes later it reversed the trend to trade for the rest of the day with increases, which intensified in the last part of the session until closing with that rebound of 0.59%.

Among the large values, the advance of Telefónica stands out, 1.83% (third increase on the IBEX), followed by Santander, 1.76% (fourth) and Repsol, which rises 1.66% (fifth). Iberdrola also rose, 0.19%; Inditex, 0.18% and BBVA, 0.11%. None of the big stocks closed in the red.

The London Stock Exchange rises 0.22%

The London Stock Exchange closed this Monday with an increase of 0.22% due to widespread increases, particularly in defense, pharmaceutical and telecommunications companies.

After closing with an increase of 1.50% last Friday, the FTSE-100 index, which includes the main companies listed on the London market, rose again by 16.79 points to stand at 7,728.50 integers.

For its part, the secondary value FTSE-250 rose 24.97 points, that is, 0.13%, to 19,216.90 integers.

Among the companies that increased their value the most this Monday were the defense and aviation company Rolls-Royce Holdings, with an increase of 3.37%; the pharmaceutical company AstraZeneca, which grew by 3.21%; and the telecommunications group Vodafone, whose shares increased by 2.24%.

On the contrary, among the companies that fell during the day are the energy company Centrica, whose shares fell 5.97%; the insurer Beazley, which fell 2.56%; and the retailer Kingfisher, whose value fell by 2.20%.

The CAC-40 closes with marginal progress

The Paris Stock Exchange experienced a first day of the week in which its general index had no evolution, at levels somewhat lower than the historical record reached a few days ago, and with a relatively low volume of securities traded.

The CAC-40, which was below the 7,768.18 points at last Friday’s close for almost the entire day, fell to a minimum of 7,727.96 points at mid-morning.

But the situation was improving, especially as the afternoon progressed, and a few minutes before the end of the exchanges it was in positive territory, when it reached the ceiling of the day with 7,769.13 points, shortly before closing at 7,768.55 points.

That means that in one week the trend indicator has advanced 0.89% and in one month the accumulated gains reach 6.01%.

The activity of the operators this Monday was rather discreet, with 2,033 million euros in securities traded.

The CAC-40 values ​​that traded higher did so moderately. The biggest increases were those of the bank Crédit Agricole (1.10%), the real estate company Unibail-Rodamco-Westfield (0.89%), the digital services company Capgemini (0.82%) and the distribution group Carrefour (0.79%).

At the opposite extreme, Thales suffered a loss of 4.73% on the same day it announced a contract to provide satellite communication capabilities to German F126 frigates with the SurfSAT-L system that already equips the navy fleets of different countries. .

The defense electronics company was affected by a change in UBS’s appreciation of Thales shares. Its experts consider that the markets have not sufficiently taken into account the difficulties of their identity and digital security activities, as well as those of the aerospace business.

The other biggest falls in the CAC-40 were those of the railway equipment manufacturer Alstom (2.95%), the steel giant ArcelorMittal (2.89%) and the electrical equipment manufacturer Legrand (2.54%).

The Milan Stock Exchange falls 0.18%

The Milan Stock Exchange closed lower and its selective index FTSE MIB fell 0.18%, reaching 31,676.05 points, affected by the industry and despite the good results of telecommunications Telecom Italia (TIM).

For its part, the general FTSE Italia All-Share index decreased by 0.16%, to 33,809.75 integers.

During the session, almost 781 million shares were exchanged for a value of 1,896 million euros.

The rise in the value of TIM shares (5.90%), following the positive quarterly evaluation that the American analysts at BofA Merrill made of the company, did not prevent the Milanese market from closing the first session of the day in negative, penalized by industrial titles.

The main losers were the automobile company Iveco (2.23%), the technology company Stmicroelectronics (1.96%), the tire manufacturer Pirelli (1.85%), the alcoholic beverage company Campari (1.52%) and the online banking Nexi (1.41%).

TIM was followed on the path of good results by the aerospace company Leonardo (2.24%), after being awarded the study of a project to create a ‘cloud’ of Defense data in space, followed by the electrical network Terna (1.39%) , the energy company A2a (1.21%) and the oil company Saipem (1.13%), among others.

DAX 40 falls 0.15%

The main index of the Frankfurt Stock Exchange, the DAX 40, fell 0.15% this Monday and lost 17,100 points in a day in which the arms company Rheinmetall led the increases.

The DAX 40 closed the session at 17,092.26 points, while the Tex DAX technology index fell 0.7% to 3,384.97 points.

In a day without great macroeconomic data.

During the session, the BundesbankGermany’s central bank, has published that it expects the country’s economy enters technical recession in the first quarter of 2024, although it rules out a persistent and generalized fall in the Gross Domestic Product (GDP) over time.

In their monthly bulletin for February, Bundesbank economists have assured that the German economy could decline slightly again in the first quarter of 2024, after the contraction of 0.3% between October and December 2023, due to the weakening of industrial exports already the prudence of consumers.

On a business level, the day has been led by the arms company Rheinmetall, which has risen 4.1% to surpass the 400 euro barrier for the first time after announcing last Saturday that it plans to produce ammunition directly in Ukraine.

Following this company were the sports brand Adidas, which has gained 1.97%, and the pharmaceutical company Bayer, which has advanced 1.01%.

At the opposite extreme, the tire manufacturer Continental has been the company that has lost the most, 3.94%, ahead of the automobile company Porsche Automobil Holding (-2.97%) and the chemical company Covestro (-2.47%).

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