After a week of gains, with the DAX, the FTSE MIB and the IBEX 35 gaining more than 1%, another week begins with a mixed tone in the first continental indices. The DAX rose 0.17% to 15,605.55 points. FTSE -100 corrects slightly to 7,943.44 points, CAc-40 opens with increases of 0.5%, points above 7,383.09, Eurostoxx 50 registers 0.3%, to 4,311.75 points, FTSE MIB rose 0.4% to 27,949 points. Ibex 35 rises 0.39%, above 9,501 points.
Among the leading stocks at the opening, LVMH is placed at the top of the Eurostoxx 50 with a gain of 1.2%, up to 825.40. Banco Santander and Kering, with advances of more than one percentage point, begin the session at 3.8390 points and 583.50 points, respectively.
Shares of AB InBev are trading negatively, which is more than 0.6%, while Bayer or BMW are down more than a tenth in the first minutes of trading.
At the corporate level, Telecom Italia has received a non-binding offer for its fixed network and submarine cable business from Cassa Depositi et Prestiti (CDP) and Australian infrastructure fund Mcquarie. A proposal that is in force until March 31 and this also involves Fiber Open, a smaller rival to Telecom Italia’s fiber optic network.
Harris Associates has sold its 10% stake in Credit Suisse. The operation he began to do in capital growth earned him the position of the first investor of the National Bank of Saudi Arabia. He says that he is investing a lot of money because the increase in rates will benefit the banks and he wonders why he bet on something that is a capital burn when the rest of the sector is now generating.
The British chip group’s arm could raise at least $8 billion in a US IPO
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This Monday we will be paying more attention to investor confidence in the Euro Zone and January sales. Germany and France issue debt with different maturities. In Spain, the National Statistics Institute disseminates data on foreclosures carried out in the fourth quarter of last year and the Center for Sociological Research publishes the fiduciary index in February. In the United States, durable goods and factory orders will be released in January.
Investors will have to observe several indicators this week: the appearances of Jerome Powell, in Congress and the Senate, (on Tuesday and Wednesday) and Christine Lagarde (on Tuesday) and on Thursday in the last meeting of the Bank of Japan under the government. of Haruhiko Kuroda. An agreement in which the market will wait for the next moves of the monetary organization in monetary matters to fight inflation. In addition, this Friday employment data will be released in the US. “It will be important to reassess your view on the state of the US labor market, which is much more bullish than expected at this point after strong official rate increases, at a time when the labor market has significant inflationary connotations.” recognize the Securities Link.
After a positive week’s close, major index futures are trading with slight gains today. Dow Jones futures are up slightly above 33,402 points, S&P 500 futures are up 0.16%, above 4,052.20 points while the NASDAQ 100 is down 0.3%, at 12,333.80 points.
Oil prices eased when China set an economic growth target of around 5% this year, lower than expected, and as investors cautiously await testimony this week from the chairman of the United States Federal Reserve, Jerome Powell. Brent oil futures fell 0.4%, above $85.48, while West Texas Intermediate fell 0.3%, above $79.42.
On the other hand, China has set an economic growth target of “around 5%” this year, and that number is at the end of analysts’ expectations. In addition, analysts indicate that this modest, conservative figure is not a great stimulus.
Major Chinese stocks were down 0.5%, after 1.7% last week. MSCI’s broader index of Asia-Pacific stocks, which does not include Japan, was up 0.7%. Japan’s Nikkei rose 1.2%, hitting a three-month high, while South Korean commodities added 1.0%, helped by a softer inflation reading.
In the currency market, EUR/USD keeps increasing against the dollar, up to 1.0650 units, while the main cryptocurrencies should also register progress. Bitcoin registers 0.15%, above $22,405.5 while Ethereum loses 0.3%, to $1,562.69.
