Vodafone sinks on the London Stock Exchange after lowering earnings expectations
European stock markets take a breather in their series of gains, on a day marked by new references to the evolution of inflation and doubts about the evolution of the results of the major companies in the region, following a new downward assessment of the forecasts of Vodafone, which is down nearly 5% on the London Stock Exchange.
The Ibex-35, which attempted to hit 8,200 points early in the day, opted to drop 0.4% mid-session, leaving the indicator above 8,100 integers. The largest decline is consistent with Cellnex, which lost more than 5% after JP Morgan and HSBC announced yesterday the accelerated placement of 3.6% of the company’s capital, at a discount of 7% from its closing price.
Other big names in the sector such as Telefóniac also contribute to the downward pressure with drops of more than 1%, so that the increases in banks and energy companies cannot compensate for the red figures. Banco Sabadell (+2.66%), Endesa (+1.84%), Acciona Energía (+1.35%), Enagás (+1.31%), Naturgy (+1.01%), CaixaBank (+ 0.92%) and Red Eléctrica (+0.79%) led the top of the table.
Outside the stock market, investors’ attention will turn to the euro on Tuesday. The single currency is benefiting from the weakness of recent days by leaving the dollar behind parity. The single currency is at $1.03, its highest level since the summer, given the turnaround investors have made in their expectations with central banks.
In particular, the market has recently shown more hope that the Federal Reserve (Fed) will ease the pace of rate hikes in December. And this assumes a reprieve for the European Central Bank (ECB), which hurts a weak euro by creating a situation of imported inflation, as the products bought abroad are more expensive, reducing part of the effect of the rise in offsets interest rates. interest on inflation.
Source: La Verdad
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