Market Closing Report April 24, 2024

Market Closing Report April 24, 2024
Market Closing Report April 24, 2024

stock market

Falls in the main European indices and rebound in China

  • Main European indices They closed the session in red, with mostly slight setbacks. The IBEX 35 has performed the worst after falling 0.4% and returning to around 11,000 points. For his part, the Euro Stoxx 50 It ended with a drop of 0.4%.
  • In the region Pacific Asiathe stock markets registered a partial rebound thanks to the increases recorded in the US yesterday that dragged down the region’s indices, with the index rebounding Chinese CSI 300 a 0.44%he Hong Kong Hang Seng a 2.2% and the Japanese Topix up 1.63%.

Session keys

Mixed day without great reactions in the European and American stock markets

  • In Spain there has been a day of slight falls after the advances of the last sessions, where the rise of Fluidra of more than 2% without apparent news has stood out, and the fall of Grifols of 3% after yesterday it was the best value with an increase of 5% after announcing a private placement of debt of 1,000 million euros that reduces the risk of a capital increase. Iberdrola has presented its quarterly results where the profit from the sale of 55% of its Mexico segment stands out, although they have not surprised the market and closed without major movements in the price.
  • In the US, the earnings season continues its course and today Visa, Boeing, Mattel and Hasbro among others have presented. Toy companies continue with their damaged core toy business, although they compensate with their licensing segments (Barbie) and Hasbro board games (Magic and Monopoly), which pushes their shares up above 5% and 10 %. Tonight he will present Meta Platforms. Regarding the indices, the S&P 500 remains flat, Nasdaq rises 0.4% and Russel 2000 small and medium-sized companies lost 0.6%.

Fixed rent

Sovereign debt IRRs rebound strongly in the Eurozone

  • Strong rebound in the IRRs of the main European sovereign bonds after the IFO data that show an increase in the business climate in Germany to 89.4 points. The market gives a 60% probability of rate cuts in June, unlike what we saw a few weeks ago where the consensus took the rate cut on June 6 for granted.
  • Thus, the IRR of bundle to 10 years has increased 8 bp to 2.58%, he 10-year Spanish bond rebounds in 11 bp until 3.38%while the IRR of the American 10-year Treasury rises 5 bp to a 4.65%.

Raw materials and currencies

Oil continues to decline after easing tensions between Israel and Iran

  • Brent oil has fallen below $90/barrel despite the tension in the Middle East and stands at $87.9 and WTI at $82.7.
  • Gold stands at $2,327 per ounce after a slight decline, but remains close to its all-time highs.
  • The dollar remains unchanged with the EUR/USD crossing at 1.068.

Business news


The aircraft manufacturer presented its first quarter results after recent scandals due to failures in its 737 MAX models. The company has reported that it is working on actions to improve the quality and safety of its commercial aircraft. Financially, Boeing had revenues of $16.6 billion and a loss of $0.56 per share, and they burned $3.93 billion in cash, much higher than last year’s $900 million, but below estimates of $4,400. million that analysts expected. Relatively positive news despite the poor financial situation in which the company finds itself, which increases its net financial debt by 4 billion to 40.4 billion dollars.

Main macroeconomic indicators of the day

Ifo survey in Germany

In April, the business climate indicator of the IFO Institute of Germany has increased to 89.4 points (vs. 87.9 points the previous month). An increase caused by both the rise in the current situation subindex (+0.8 points to 88.9 points) and the expectations subindex (+2.2 points to 89.9 points).

Weekly mortgage applications in the US

In the week ending April 19, the index of weekly mortgage applications in the US registered a decrease of 2.7% (vs. +3.3% last week). For its part, the 30-year mortgage interest rate increased to 7.24% (vs. 7.13% last week).

Market data tables

This document, property of SINGULAR BANK, SAU (“Singular Bank”), contains information obtained from sources considered reliable. Singular Bank does not guarantee its accuracy nor is it responsible for any errors or omissions; its purpose is merely informative. The opinions and estimates made here are merely indicative, and are subject to variations due to market circumstances, legislative modifications, or any other reason that may occur, and may be modified without prior notice and, therefore, Singular Bank is not bound by are. This data is for informational purposes only and should not be interpreted as a buy or sell recommendation. The investor should be aware that the products referred to in this document may not be suitable for his or her specific investment objectives, financial or asset position or risk profile. Singular Bank accepts no liability for any cost or loss, direct or indirect, that may result from the use of this document or its contents. Past returns do not guarantee future returns. Total or partial reproduction or distribution is prohibited without the prior written consent of Singular Ban.k.

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