The Ibex rises another 1% at the start of the earnings season on Wall Street and in anticipation of the UK debt market
European stocks are picking up the witness of the strong gains on Wall Street and the Ibex-35 recovers another 1.2% to consolidate 7,400 points at the end of the week.
Inflation data in the US, worse than expected, caused a sharp drop in global indices on Thursday, but recovered by the end of the day, with increases of more than 2.5% on Wall Street and more than 3% in Asia.
On the national floor, banks and energy companies lead the way with Sabadell registering increases of more than 3%, followed by Banco Santander (+2.38%), Red Eléctrica (+2.24%), Iberdrola (+2.22% ), Enagás (+2.14%), Grifols (+2.04%) and BBVA (+1.99%).
The good behavior of the two financial entities is surprising, one of the most exposed to the UK market, which once again draws attention to the end of the lpan launched a few days ago by the Bank of England to prevent instability in its debt markets. to prevent .
For now, the equities truce – which most experts attribute to a technical situation after the recent declines – has again coincided with less tension in fixed income markets, where bond yields are losing ground again. The US ten-year yield goes from over 4% to 3.9%, while in Europe the yield on the German ‘bund’ falls to around 2%.
Chris Iggo, of the fund manager AXA Investment Managers and chairman of the AXA IM Investment Institute explains that “the hope among investors is that central banks will quickly conclude that enough has been done on monetary adjustment”.
But he sees markets “on the edge” and only a rapid weakening of growth rates and lower inflation would also be positive for bonds, “as the focus would be on central banks that have to ease at some point.” in response to rising recession risks.
In the commodities market, the oil price continues to rise slightly, with a barrel of Brent, a benchmark in Europe, trading at $94, while the US West Texas is around $89.
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.
