Thursday, June 1, 2023

Ibex returns to 359,200 but US debt default is coming

The highlight of today’s macroeconomic agenda is the release of the Eurozone CPI for April. Year-on-year inflation in the euro area rose by a tenth in April compared to the previous month, reaching 7% compared to 6.9% in March, while prices eased across the European Union (EU). I grew from 8.3% in March to 8.1%, accumulating five months of abstinence, according to data published by Eurostat.

Investors are keeping an eye on the debt ceiling talks in the US. US President Joe Biden, a Democrat, and Kevin McCarthy, the Republican’s top congressman, came closer to a deal on Tuesday to avoid impending default on US debt, as the threat of disaster prompted Biden to cut short a trip to Asia this week. Inspired to

The most appreciated in IBEX 35 this Wednesday were Meliá Hotels up 3.92%, IAG (Iberia) up 2.46%, Sacyr up 2.16%, Banco Sabadell up 1.84% and ArcelorMittal up 1.83% .

For its part, Acciona Energia dropped 3.12% and led the decline in Spanish Selective, Naturgy (Gas Natural) 1.78%, Grifols A 1.70%, Solaria 1.66% and Iberdrola 1.56%.

In the banking sector, Santander rose 0.59%, BBVA 1.08%, Caixabank Advanced 1.59%, Sabadell 1.84%, Bankinter 1.48% and Unicaja Banco 0.92%.

Talgo has soared 10% on the stock market this Wednesday, following the announcement of the signing of a second order to manufacture 56 Model 230 Talgo trains for an estimated value of 1,400 million euros with German railway operator Deutsche Bahn.

Global Dominion has launched its new 2023-2026 strategic plan, which aims to increase sales and gross operating profit (EBITDA) by 5% and 7%, respectively, compared to figures for 2023, a year in which EBITDA is estimated to be around 150%. million euros.

Germany’s second largest bank Commerzbank posted a net profit of 580 million euros in the first quarter of the year, representing a 94.8% increase compared to a result of 298 million recorded in the same period in 2022, the entity reported.

Talking about the rest of the European markets, London closed with a decline of 0.36%, while Paris and Milan registered minor declines of 0.09% and 0.01% respectively. Only Frankfurt ended the session positively with a gain of 0.34%.

Japan’s gross domestic product (GDP) registered an expansion of 0.4% in the first quarter of the year, according to data published by the government Cabinet Office.

During the Asian day, the Japan Stock Exchange shrugged off the downward pressure, with the Nikkei 225 index in Tokyo rising 0.84% ​​to 30,093. It was revealed today that the Japanese economy emerged from recession and grew faster than expected in the first quarter, thanks to a post-crisis consumption boom that offset global headwinds and strengthened hopes of a sustained recovery.

Meta (Facebook), the company that owns Facebook, WhatsApp and Instagram, has rejected a proposal to impose network usage charges on big technology companies, defended by telecom operators and being studied by the European Commission (EC). which, in their opinion, would be detrimental to both consumers and businesses.

A barrel of Brent was up 2.14% at $76.49, while West Texas Intermediate rose 2.29% to $72.46.

In the debt market, the yield on 10-year Spanish bonds stood at 3.389%, while the risk premium fell one-tenth to 106.4 basis points.

In the forex market, the euro declined 0.31% against the dollar, reaching an exchange rate of $1.0828 for every euro in the markets, and went beyond the 1.1 ‘green bill’ level, which it had set several days ago. had achieved

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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