The Ibex 35 maintains the 9,200 points awaiting the PCE of the USA
The IBEX 35 continues to trade higher this Friday with a rise of 0.48% to 9,230 points in a session at Banco Sabadell presenting its strategic plan and in which the macroeconomic agenda will set the tone for the stock market.
In Europe, the stock markets remain bullish in the middle of the session. Cac 40 rises 0.49%; the FTSE MIB, 0.14%; the London FTSE, 0.21%; the Dax, 0.55% and, finally, the Eurostoxx is revalued by 0.56% this Friday.
Regarding the budget requested by Biden, the New York Times reported that the Democrat will ask for six trillion dollars of federal spending for fiscal year 2022. Futures on Wall Street, meanwhile, also anticipate a higher open.
On the other hand, it is expected that the US PCE will have rebounded in year-on-year terms in April by 3.5% (2.3% in March), and that its underlying has done so by 3.0% (1.8% in March ).
“Any reading that slightly exceeds the expectations of the analyst consensus could once again generate tensions in the bond and equity markets., since investors would once again discount a possible advance of the start of the process of withdrawal of monetary stimuli by the Fed, “explained Link Securities analysts.
Retail trade in Spain recorded a historic increase in sales of 38.5% in April compared to the same month of 2020, with which it chains two consecutive months up after adding twelve year-on-year decreases.
Regarding online retail sales, the figure registered a rise of 10.5% in the month of April compared to the same month of 2020, the lowest rate since January 2020, according to data from the National Institute of Statistics (INE).
The Ibex 35 values that increased the most in the middle of the day this Friday are: MERLIN Properties, 2.91%; Inditex, 2.12% and Inmobiliaria Colonial, 2.05%.
Sabadell Bank expects to earn around 700 million euros in 2023, according to its forecasts of achieving a return on tangible capital (ROTE) above 6% at the end of the 2021-2023 strategic plan.
Regarding its prospects, Banco Sabadell focuses on the banking business and predicts a “higher appetite for mortgages” and a “lower appetite for consumer loans”. However, the new financing of the entity focuses on “products with lower risk and lower consumption of capital”, according to a document sent to the CNMV.
In this sense, its price has not fitted well with the strategic plan and Banco Sabadell leads the falls of the Ibex 35 with a decrease of 3.91%; Fluidra cedes 1.35% and Caixabank 0.98%.
The board of directors of Acciona will propose at the next shareholders’ meeting, which will take place on June 30, the appointment of María Dolores Dancausa, current CEO of Bankinter, as a member of the board, as well as the re-election of José Manuel Entrecanales as director.
Banco Santander has renewed the Aenor certification of advice on personal wealth management for the Private Banking customer segment, which certifies the quality of the services provided, the commitment of the management and the high specialization of the bankers, among other things.
Indra’s general shareholders’ meeting, which will be held on June 30 in Madrid, will vote on the ratification and re-election of Marc Murtra, the company’s new president, replacing Fernando Abril-Martorell, as director with the status of another external.
MERLIN Properties will invest 26.1 million euros in the installation of photovoltaic panels on the roofs of 24 of its portfolio assets in Spain, which include office buildings, warehouses for logistics activities and shopping centers.
In the Continuous Market of the Spanish stock market, Naturhouse shares led the increases with an increase of 2.38%, while Montebalito fell 4.37%.
Regarding the Spanish labor market, the director in the labor area of KPMG Abogados, Jordi García Viña, has indicated that, given the evolution of the pandemic, the economic situation of the country and the public spending deployed by the Government in recent months “It is very possible” that this is the last extension of the Records of Temporary Employment Regulation (ERTE).
In addition, according to EuropaPress, the countries of the European Union have completed the ratification process of the 800,000 million fund with which they intend to boost their economies after the impact of the pandemic, which paves the way for the first debt issues to be able to take place as early as June, ahead of schedule.
On the other hand, the self-assessment of the Tax on Financial Transactions, known as the ‘Tobin Tax’, must be submitted electronically via the Internet at the electronic headquarters of the Tax Agency, and the first payment will be made between the June 10 and 20 of this year.
The year-on-year inflation rate in France stood at 1.4% in May, two tenths above the reading recorded the previous month, which represents the largest rise in prices in the French country since February 2020, the last month before the impact of the Covid-19 pandemic, as reported by the French National Institute of Statistics (Insee). In addition, the gross domestic product (GDP) of France registered a 0.1% contraction in the first quarter of 2021 compared to the three previous months.
The euro depreciates against the dollar American and exchanged at 1.2186 ‘greenbacks’.
Oil prices are trading higher. Brent oil, the benchmark in Europe, rose 0.75% to $ 69.43 per barrel, while West Texas gained 0.93% to $ 67.15.
The risk premium for Spain stands at 65.7 basis points, while the interest on the Spanish 10-year bond stands at 0.48%.
Stock market closure in Latin America
After the rise in those experienced in raw materials such as oil, copper and aluminum, corn or soybeans, which are strong generators of foreign exchange for the region, and a certain weakness of the dollar, the region’s currencies appreciated, especially the Brazilian real 1 .08%, the Colombian and Mexican pesos (0.57% and 0.47% respectively).
For its part, the stock indices that rebounded strongly were the Merval of Argentina, with a gain of 1.59% followed by the Ipsa of Chile 1% and the IPC of Mexico 1.07%, while the Bovespa rose slightly less than its regional peers, 0.30%. However, the Colcap of Colombia and the selective of Lima closed with setbacks of 0.72 and 1.55% respectively.