Mixed day in risk markets with variable income indices showing divergent behavior before closing the week. Wall Street Selectors dominate with modest gains while Old Continent falls back with little intensity compared to yesterday’s closing prices. Another publication that would normally have little relevance under normal circumstances is moving the markets again today. The index of signed housing purchase and sale contracts for November saw a month-on-month decline of 4%, marking a level below the peak of the pandemic and a level of -38.6 points, or the same as the previous 20 , is the historical minimum. years.
In Spanish Selective, there have been increases by Unicaja Banco, Amadeus, Fluidra or Colonial, among some other prices with minor increases. While negative sentiment in Europe also transferred to the stock market floor, where Banco de Sabadell led the decline, along with the tourism sector, Repsol, steel companies and infrastructure. Pharmaceuticals also declined in the mid-week session.
In raw materials, natural gas declined over 11% due to supply concerns. The low temperatures caused many wells to freeze, damage equipment and mechanical problems to the piping infrastructure. As a result, gas production fell by more than 50% in Ohio and by more than 20% in Pennsylvania. Oil also fell along with gold and silver. While on the positive side, the growth in wheat or maize is notable.
Tomorrow, for the session before the end of the year, we will know data for November for retail sales in Spain, weekly unemployment benefit applications and US crude inventories.
Dario Garcia, XTB Analyst