Saturday, April 1, 2023

European stocks rise despite China’s modest growth target


The Eurozone March Sentix Investor Confidence Index was up around 0.3%

European stock markets opened with gains of around 0.3%. In this week investors will have several references in front of them to watch: the appearance of Hieronymus Powellin Congress and in the Senate, on Tuesday and Wednesday Christine Lagarde On Tuesday and Thursday, the next meeting of the Bank of Japan under the mandate Haruhiko Kuroda.

In all of these indications, they will be asked about the central banks’ next moves to fight inflation. Friday will be the day when the employment data in the United States arrives and analysts expect some 229,000 non-farm payrolls to have been created, which would mean moderation compared to the previous month.

In China, stock markets are moving slightly lower after the economy forecasts. China set an economic growth target of * “about 5%” this year, and that figure is at the extreme end of analysts’ expectations. In addition, speculators recommend this A modest, conservative figure suggests there will be no major stimulus.

Pay attention to the price of oil Saudi Arabia oil price for Asia and Europe for the second consecutive month in April.

On Monday, in Spain, the National Institute of Statistics disseminates data on foreclosures carried out in the fourth quarter of last year and the Center for Sociological Research announces the consumer confidence index for February. In the European zone, the Investor Sentiment confidence index for March and the sales report for January will be released. Germany and France issue debt with different maturities. In the United States, durable goods and factory orders will be released in January.

The protagonist’s business

In Ibex 35, Grifols shares fell (-3%) after Morgan Stanley lowered its strategy from overweight to equal market and its target price from 16 to 14 coins.

For Colonial Barclays raised its target price from 5.6 cents to 5.9 cents.

Repsol’s announced share purchase program has sent more than 900 million in cash. The objective is to buy back up to 2.64% of the share capital.

Against the offer by TIM

Telecom Italia (TIM) suffers 4%. This Sunday, the Australian Deposit and Loan Fund (CDP) and Macquarie Infrastructure Fund released non-binding offers for the fixed network and its submarine cable.

The proposal is valid until March 31. This benefit is in addition to the one already offered by KKR capital fund.

CDP’s offering will also include Open Fibre, a smaller competitor to TIM’s fiber optic network, which is owned by CDP and Macquarie and will be incorporated into TIM’s networks in the future.

A new hit from Credit Suisse

The American firm Harris Associates, for years one of the main partners of Credit Suisse, sells all its participation with 10% of its capital.

Harris began selling securities in capital growth and became the first investor in the Saudi National Bank. Now he has sold everything, David Herro tells the Financial Times newspaper.

He says that he is investing a lot, because the increase in rates will benefit the banks and he wonders why he bet something that is a capital burn when the rest of the sector is generating now.

Harris shares in several European financial institutions, including Lloyds, Intesa Sanpaolo, BNP Paribas, Julius Baer, ​​and German insurer Allianz.


-City (+4%) signed a strategic agreement with the US engineering group Aecom to enable green hydrogen, green ammonia and sustainable fuel projects.

-TotalEnergies bought Poland’s leading biogas producer Polska Grupa Biogazowa (PGB) and a portfolio of solar projects under development for a total capacity of 200 megawatts. They did not give figures to the operation.

Nation World News Desk
Nation World News Desk
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