The week has been very calm in the bags, which have been installed in the ‘summer mode’ and they have decided not to move until catalysts appear … and at the moment there are very few. The Ibex rose 0.02% on Monday, 0.03% on Tuesday, fell 0.13% on Wednesday and 0.12% on Thursday. They have been very quiet days and this calm has also continued today, Friday, with the Ibex rising just 0.42% (9,224.60 points). Of course, the selective has closed in annual highs in closing prices, which is good news, and accumulates a rise in 4.6% in the month of May, in the absence of Monday’s session.
Within the index, the sharp falls in Banco Sabadell (-6.5%) on the day you submitted your Strategic plan. The entity’s 2023 plans focus on the Spanish market, on Business Banking and on improving profitability, with an expected RoTE for 2023 above 6%.
In addition, it rules out the sale of its subsidiaries in Mexico and the United Kingdom and foresees cost cuts (and personnel and offices) with the goal of earning 670 million in 2023. However, after rising almost 100% so far this year, investors have decided ‘sell the news’ after ‘buy the rumor’.
Among the values that have done the worst are also Fluidra, Meliá Hotels and Solaria, which will present its accounts for the first quarter next Monday.
On the positive side of the Ibex, the increases in Merlin, Inditex or Siemens Gamesa. Zara’s parent company presents results next week, so it will be one of the protagonists in the short term.
For its part, Wall street registers moderate gains on its last trading day of May, since next Monday the New York Stock Exchange will remain closed for the Memorial Day.
In Asia, the day has opted for the green numbers, with significant rises (2% in the case of the Nikkei). There it is worth highlighting what he has done JD Logistics, a subsidiary of JD.com, which has risen by 18% in its debut on the Hong Kong stock exchange.
On the economic agenda, the Price Index for Personal Consumption Expenditure (PCE) in the USA has risen to 3.6% year-on-year in April, while the underlying PCE has rebounded to 3.1%, above the 2.9% anticipated and its highest level since 1992. However, this inflationary data it has not had a negative effect on the market.
On the other hand, it should be noted that the European Medicines Agency (EMA) has recommended the Pfizer-Biontech vaccine for adolescents 12-15 years of age.
In addition, EU countries have completed the ratification process of the 800,000 million fund with which they intend to boost their economies after the impact of the Covid-19 pandemic, which paves the way for the first debt issuances to take place as early as June, ahead of schedule, which is very positive for Spain.
BIDEN DEFENDS ITS PLAN AND THE WORKERS
“The bottom line is this: Biden’s economic plan is working.” This is how blunt Joe Biden, president of the United States, has been, in a speech at Cuyahoga Community College in Cleveland (Ohio). “We have had record job creation, we are seeing record economic growth, we are creating a new paradigm. One that rewards work, to the hardworking people of this nation, not just those at the top“, he claimed.
Republicans and business groups say the improvement in federal unemployment benefits from the Biden America Rescue Plan, their top national achievement, is the culprit of the “labor shortage”, that has forced companies like McDonald’s and Bank of America to increase your minimum hourly wage.
Biden has rejected this view of the economy: “As far as the economy that we are building, the increase in wages is not a mistake, but a characteristic“, he claimed.
The president renewed his call on Congress to raise the federal minimum wage on Thursday at $ 15 an hour.
The euro it depreciates 0.04% and changes to $ 1.2188. The Petroleum up moderately, with Brent at $ 69.72 and West Texas at $ 67.07. Analysts Goldman sachs have anticipated that they expect a price in 80 dollars this same year.
The gold and silver they fell slightly, to $ 1,897 the first and $ 27.90 the second.
The bitcoin yields 5%, to $ 36,828, and the ethereum 7% is left, up to $ 2,564.
The profitability of the 10-year American bond relaxes to 1.59% and the yield of the 10-year Spanish bond it drops to 0.47%.