What does the Ibex 35 do?
The Ibex 35 advances 0.3% after falling 0.72% yesterday, and breaks the streak of three consecutive negative sessions. Today, investors are awaiting inflation data in Europe and the United States and the first round of the French legislative elections. From Monday to Thursday, the Ibex 35 loses 0.73%.
Which stocks are rising or falling the most?
The values that rise the most are:
Unicaja: 1.4%
Grifols: 1.2%
ArcelorMittal: 1%
Those who give up the most:
Amadeus: -0.8%
Solaria: -0.6%
Endesa: -0.6%
What do the rest of the Stock Exchanges do?
Wall Street closed last night in the green. The Dow Jones rose by 0.09%, the S&P 500 also rose by 0.09% and the Nasdaq rose by 0.30%.
Keys of the day
- The market is waiting for the Federal Reserve (Fed) to publish the personal consumption expenditures (PCE) price index for May on Friday. Economists surveyed by Dow Jones expect this indicator to rise 0.1% month-on-month and 2.6% compared to the previous year.
- Investors are hoping for an easing of inflationary pressures that could support the Fed’s intention to lower interest rates later this year.
- In June, the Consumer Price Index (CPI) moderated two tenths to 3.4%, thus breaking the upward streak that had started in March. The core, which excludes fresh food and energy products as they are the most volatile, stood at 3% for the second consecutive month, after it surprised analysts in May by rising for the first time in a year. Fuels and the good evolution of the cost of food have played in favor of this moderation, while electricity has been the great element against it, according to what the National Institute of Statistics (INE) announced this Friday.
- The Bank of Spain publishes the advance balance of payments figures for April and deposits data for May.
- In Europe, the preliminary reading of the CPI of France and Italy for June and the final data on the evolution of the United Kingdom’s GDP in the first quarter stand out. Germany reports unemployment rate and retail sales.
- Japan’s industrial output grew 2.8% in May from the previous month. Japan’s unemployment rate remained at 2.6% in May, the fourth consecutive month of such growth, according to data released by the Japanese government on Friday.
What do the analysts say?
MacroYield maintains that “maintenance dovish The Swedish central bank’s rate hike, the Finnish central bank governor’s bet on two more ECB rate cuts this year, a slight reduction in weekly unemployment in the US, modestly weak overall durable goods orders in May or a slight upward revision of first quarter GDP were not sufficiently important references to move markets that are maintaining a sideways pattern.” He adds that “Europe will continue to hold its breath awaiting the first round of the French elections this weekend.”
Tressis maintains that “in the second half of 2024, the global economy will continue to face strong challenges. Although fears of a recession have diminished, the recovery of global growth is slow and uneven across regions and countries. Persistent inflationary pressure prevents economies from achieving their medium-term price stability goals and an error in interest rate policies by central banks could further complicate the situation. Liquidity in the system remains high and corporate results exceed expectations, but geopolitical risks remain very present.”
How are debt, currencies and commodities performing?
The euro fell to $1.0691.
Brent crude, the benchmark in Europe, costs $85.73.
The yield on the 10-year Spanish bond drops to 3.382%.
Quotes
STOCK EXCHANGE – CURRENCIES – DEBT – INTEREST RATES – RAW MATERIALS
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