The selective advances 0.25% at the start of a week marked by inflation data across the Atlantic
Mixed session in European equity markets, with investors extremely cautious in the face of a week marked by the US parliamentary elections and October inflation data in the world’s leading power, which will undoubtedly mark the next monetary policy decision of the Federal Reserve (Fed).
The Ibex-35 rose 0.25% to nearly 7,962 points, with Sacyr leading the table with a nearly 5% lead. Grifols (+3.77%), IAG (+2.92%) and CaixaBank (+2.77%) followed the construction company in the increases. Meanwhile, in the negative field, the declines of Telefónica (-1.41%), Naturgy (-0.87%) and Ferrovial (-0.85%) stood out.
But moves have been scarce ahead of midterm elections to be held in the country this Tuesday, which will define the two-year presidency that Joe Biden has left. Experts fear the loss of House Democrats will limit their ability to push through their political agenda. “However, and in light of the stock markets, a divided government has historically been well received by investors because it limits the Executive’s ability to intervene,” Link Securities analysts recall.
Investors will also be watching closely the release of inflation data in the country next Thursday. Analysts’ consensus expects that year-over-year growth in both CPI and core interest rates will have slowed slightly, although it will continue at very high levels. “Any positive surprise in this regard will be welcomed by the US stock markets and, out of sympathy, also by the European ones,” the experts say.
Until then, little movement on the stock markets is expected. Even losses are not out of the question as investors take advantage of last week’s strong revaluations in some stocks to take profits.
Meanwhile, the price of a barrel of Brent, a benchmark in Europe, in the commodities market stood at $99.11 on Monday, up 0.58%, while the US West Texas was around $93.3, up. from 0.76%.
Finally, the price of the euro against the dollar was 0.9992 greenbacks, while the Spanish risk premium was 105 basis points and the required yield on the 10-year bond was 3.375%.
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.
