The selective extends another 2% of the increases with the push of banking and tourism securities
European stocks extend the comeback with renewed courage after Wall Street’s bullish shutdown. The Ibex-35 is up another 2% and recovering 7,600 points with the push from tourist stocks and banks.
While we’ll have to wait and see if the gains are consolidated in the coming sessions, behind this increased risk appetite are again remarks about the possibility that the US Federal Reserve (Fed) is accelerating the rate hike process. Rumors returned after the country’s manufacturing ISM was released Monday was weaker than expected.
In fact, according to Link Securities analysts, futures reflect a downward revision of interest rate expectations by investors, peaking between 4.25% and 4.5%, when until recently, for a few days, the general opinion was that they would be 4.6%. to achieve.
“While all of these suspicions may be partially true, we believe that what was seen Monday was another technical uptick, driven by the high levels of overselling (bonds, stocks and oil prices) and overbought (dollar) they presented. », the experts state in their daily analysis.
An upturn that would also be supported by the repositioning of portfolios after the end of the quarter, “to adapt them to the new market realities.”
Meanwhile, the oil price in the commodities market continues to rise, with the Brent rate, the benchmark in Europe, at $89, while the US West Texas stood at $84. Investors are still waiting for the OPEC+ meeting next Wednesday, with a possible cut in oil production.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
