Major stocks like Inditex or Santander are fueling gains at the start of a week marked by inflation in the US
European equity markets are benefiting from the truce that is delivering key macro data and corporate results in these first days of August as they await the week’s key reference, the US CPI, to be released on Wednesday.
Experts predict that inflation will ease slightly from the indicator’s 40-year highs, above 9%, showing that prices have already peaked in the world’s leading power. Investors’ attention will also shift to the underlying figure, which is likely to continue rising to 6.1%.
Awaiting confirmation of the estimates, European investors started the week with joy, also bolstered by Wall Street’s upward opening following good employment data released last week. In Spain, the Ibex-35 is recovering 1.3% to 8,272 points, levels not seen since the end of June.
The large stocks attract the selective, which chains five sessions of increases, with strong gains of more than 4.4% for Inditex, which pushes the textile giant’s price above 25 euros per share. Naturgy recovers 2.6%, while other major stocks such as Santander have also contributed to the gains with gains of more than 2%.
On the contrary, Ferrovial was at the bottom of the table with a 1.43% decline followed by a 0.89% decline recorded by Grifols.
However, experts recall that activity volumes will remain low in the coming days as many investors are already on vacation. And that is an incentive for volatility to rise, as is common in these times. Especially in an environment where geopolitical tensions can continue to scare, as became apparent after Nancy Pelosi’s visit to Taiwan.
In the commodities market, the price of oil is recovering some of the ground it lost last week, although it is still below $100. Specifically, the Brent-type barrel, a reference in Europe, costs around $96, while the American West Texas recovers $90.
Source: La Verdad