Saturday, February 24, 2024

European stock markets rose and trailed behind Wall Street and Asia

The DAX increased by 0.8% to 16,688.50 points, the FT-100by  0.4% to more than 7,492.25 points, the Eurostoxx 50 rose by 0.9% to 4,492.95 points, the CAC 40 scored by more than one percentage point, and the FTSE MIB It will increase by a quarter of a point, to 30,421 points. The IBEX 35 rose 0.58% at the opening to 9,915.70 points.

At the corporate level, French bank Credit Agricole revealed a 7% stake in payment service provider Worldline. The agreement is part of a broader strategic partnership to create a “major player in commercial payment services in France.”

Britain’s Ministry of Defense will spend $514 million to modernize a missile system it uses to shoot down enemy drones in the Red Sea. The contracts were awarded to the British division of MBDA, a missile joint venture owned by Airbus, BAE Systems, and Leonardo.

Tecnicas Reunidas and Sinopec were awarded two contracts from Saudi Aramco worth more than 3.3 billion dollars. The joint venture is 65% owned by Técnicas Reunidas and 35% by Sinopec, which means that the Spanish company has more than 2,150 million dollars.

This week ends the deadline given by the CNMV to Grifols to clarify the accounting and management situation following the accusations against the Gotham City Research Fund.

ECB and Boxwood Week, etc

As continued by China this morning, the reference interest rate is at 3.45% and meets the expectations of analysts without expecting any change. Meanwhile, in Japan, the BoJ today began its monthly monetary policy meeting, where most experts expect ultra-low interest rates to be maintained while weighing wage growth and the economic impact of the earthquake at the beginning of the year in the country.

TOMORROW We will find out what the Bank of Japan decides and, on Thursday, the European Central Bank, although in any case, no changes in interest are anticipated. The Bank of Canada and Norway are also meeting this week.

In addition, during the week, the estimate of GDP in the United States in the fourth quarter and the private consumption deflator will be key, one of the favorite inflation indicators of the FED, which will meet next week. Link Securities experts noted that “while the US economy has proven more resistant to high inflation andhigh-interestt rates than previously expected, the main European economies are stagnant or about to enter the economy. , something that will end. shown by the results of the companies most exposed in the region, which we understand that investors have started to discount.

So it seems that the behavior of the stock markets will continue to be marked by the macro and, to a lesser extent, by the expectations of the results of the listed companies. This week in Spain, the season starts with Bankinter, while in Europe, stocks such as ASML, Ericsson, Nokia, or SAP will do the same, and in the United States, Tesla, General Electric, Johnson & Johnson, or General Electric, among others,

After Wall Street closed higher on Friday, futures traded higher today. Dow Jones futures rose shy of 37,887 points, and the S&P 500 advanced slightly by two-tenths, to 4,850 points, after registering last Friday its first historic closing record in two years, and the NASDAQ 100 rose slightly by 0.6%, to 17,424.50 points.

Oil prices failed to advance as economic headwinds weighed on the outlook for global oil demand and offset geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend. Brent oil futures fell 0.3% to $78.32, while West Texas Intermediate fell 0.2% to $73.08.

In the currency market, the euro rose slightly against the dollar, to 1.0903 units at a time when Bitcoin corrected only 1.2%, to $41,120, while Ethereum fell 1.7%, to 2,427.54 dollars.

In thefixed-incomee market, the yield on the ten-year German bond fell to 2.2805%, the yield on the Spanish bond fell to 3.210%, and the yield on the ten-year US bond fell to 0.5%. , up to 4.125%.

World Nation News Desk
World Nation News Deskhttps://worldnationnews.com/
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