A week begins where inflation and central banks monopolize the attention of investors. Therefore, on Wednesday the inflation for the month of August will be announced in the US and for investors in the Eurozone the important event of the week is the meeting that will be held this Thursday by the Governing Council of the ECB. “The question for investors at the moment is whether the ECB will choose to stop its rate hike process or whether, on the contrary, it will raise rates again for the tenth time in a row. In the first If it does not increase , it is likely that the message of the ECB will be “tough”, leaving the door open to further increases if the data, especially the evolution of inflation, require it. On the contrary, if the ECB chooses to return to increase their rates, the most likely thing is that they will try to communicate that the hike process ends, for now, with this latest movement. The reaction of the markets in both cases is difficult to predict, so we do not dare to expect it. It would be better for them for the ECB not to raise its official rates and “leave the door open” to not do so again if inflation continues to fall, even if only slightly we provide the possibility of this potential scenario,” explained Juan J. Fdez-Figares, from Link Securities.
In Spain, the IBEX 35 ended on Friday with a slight increase, leaving behind 7 consecutive sessions with losses, which translated into a closing at the level of 9,300 points. This Monday, the Spanish team stretched the rebound and made it strong.
Specifically, the Spanish selective opened with an increase of 0.61% at 9,421.60. The values that rose the most were Grifols (1.65%), Banco Sabadell (1.50%) and Unicaja Banco (1.31%). On the opposite side, only three values are open red: MERLIN Properties (-0.31%), Acciona (-0.27%) and Aena (-0.03%).
All Ibex banks regained positions in the stock market today: Banco Santander (1.29%), BBVA (1.25%), Bankinter (1.20%) and Caixabank (1.07%).
On the business side, investors will continue to monitor Telefonica’s moves. This Sunday, the acting first vice president of the Government, Nadia Calviño, confirmed that she did not contact the crown prince of Saudi Arabia, Mohamed bin Salmán, during the G20 summit in New Delhi after the entry of the STC group into the shareholding .to the Spanish operator. He added that there is still no official announcement by the Ministry of Defense, which is the step that will launch the evaluation process of the Government. Telefónica opened with an increase of 0.47%.
This Wednesday Inditex published the results and, according to forecasts, it can break new records in revenue and profit in the first half of the financial year. So far this year, the textile company’s share has risen more than 40% in the stock market. Right now, analysts at Morgan Stanley raised their target price from 37 to 38 euros. Its shares open with a value of 0.68%.
On the other hand, Jefferies issued a new recommendation on Cellnex and lowered the price from 49 to 46 euros.
Acciona and its partners have completed the construction of the largest hydroelectric dam in Canada, a project of 1.8 billion euros that constitutes one of the most important of the Spanish group in the region.
on Europe also highlighted the increases. The DAX increased by 0.5% to 15,823.15 points, the FTSE -100 increased by 0.5%, to 7,520.02 points, the CAC-40 increased by only half a percentage point, the EURO STOXX 50 increased by 0.5%, to 4,257.45 points in the MIB session from 28,433 points, after registering an increase of 0.7%.
Loss Asian stock markets They fell, as Chinese investors sold shares of real estate developers, unconvinced by the authorities’ efforts to revive the continent’s real estate market activity.
The index MSCI The broader Asia-Pacific sector, which excludes Japan, reversed earlier losses and advanced 0.3%, after US stocks ended the previous session with small gains. the Australian stocks They rose 0.50% and Japan’s Nikkei index lost 0.41%. In Hong Kong, the index Hang Seng fell 1.04% in the afternoon session, as investors remained wary of China’s troubled real estate sector. Hong Kong’s Hang Seng Property Index, an indicator of Hong Kong’s leading property developers, still fell 3.24%, while mainland China’s property index lost 1.9%. It previously fell more than 3%.
Loss consumer prices in China They returned to positive territory in August, while the decline in factory prices slowed, data showed Saturday, as deflationary pressures eased amid signs of economic stabilization.
In the American markets, the three main indices of Wall Street They accumulated declines during the week as investors worried about interest rates while waiting for the next inflation reading from the United States. The DOW JONES Ind Average rose 0.23% to 34,579.26, the S&P 500 gained 0.15% to 4,457.62, and the NASDAQ 100 gained 0.09% to 13,761. 53 units. This Monday, American futures traded up between 0.10 and 0.22%.
Oil futures fell as concerns over China’s economy weighed on the outlook for fuel demand, although Brent remained above $90 a barrel, supported by reduced supply after Saudi Arabia and Russia extended supply cuts. The crude oil Brent decreased 0.1%, to $90.55 a barrel, while crude oil in the US West Texas Intermediate It stood at $87.09 per barrel, down 0.5%. (Oil futures)
For its part, Bitcoin is moving flat at $25,834.
Loss gold prices rise, supported by a decline in the dollar, while investors impatiently await US inflation data that could define the Federal Reserve’s moves regarding interest rates. Spot gold gained 0.3% to $1,922.89 an ounce this morning, after losing 1% last week. US gold futures rose 0.2% to $1,946.30. (Gold Futures, Gold)
In today’s macro agenda, it is a day without many macroeconomic references, where we have industrial production in Italy and consumer inflation expectations in the United States.