Doubts remain on European stock markets, but the Ibex-35 rises 0.3% above 9,300 points in a session again marked by corporate results and the release of US GDP, again showing the cooling of the first world power . Specifically, US GDP grew by 1.1% in the first quarter compared to the same period last year and compared to the expected 2%. If compared to the three previous months, it would have barely grown by three-tenths. And these numbers are encouraging to those who think the cycle of interest rate hikes has come to an end, at least on the other side of the Atlantic. Business results In addition to the macro, the business results are the real protagonists these days. In Spain this Thursday it was BBVA and Sabadell’s turn, which recorded increases of 2.5% and 1.6% in their quarterly accounts. The sector is thus recovering from the weak performance of recent days, with Santander rising 1.7% and CaixaBank a further 2.5%. Bankinter and Unicaja in turn rose by about 1.5%. The avalanche of bills is leaving investors with a bittersweet feeling, with a tone of relative calm among businessmen about the future performance of their companies, but still unwelcome by the market. “In many cases, the market reaction to the numbers released by the companies differs significantly, showing that investors are choosing to ignore the different fundamentals of the companies and put them all in the same bag,” they indicate. Also contributing to this in recent days was renewed fears over the condition of US mid-market banks, with First Republica Bank once again coming under scrutiny for the strong deposit losses it has suffered recently. Meanwhile, in the commodities market, the oil price rises slightly to $77.9, while the US West Texas is around $74.64.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
