The Spanish stock market has turned around and after the opening of this Monday rises a minimum 0.02% at the beginning of the week in which the market doubts, pending the political situation in Brazil, where many listed companies are present.
At 9.15 a.m. IBEX 35, the main national indicator, is trading at 8,708.4 points after adding that 0.02%.
Despite the positive tone of Wall Street last Friday and in Asia this morning, the national indicator is trading cautiously and this, after closing the first week of the year with full increases and above 8,700 points.
Since the beginning of 2023, the national market has appreciated by 5.8%.
In the rest of Europe, this Monday the gains are imposed. With the euro at $1.068, Frankfurt and Milan are up 0.31%; London, 0.19%; and Paris, 0.10%.
Link Securities experts explain that investors are clearly betting on a rapid slowdown in inflation, something that would allow central banks to stop their rate hike process earlier than estimated so far, thus allowing the “soft landing” of the main developed economies.
However, Renta4 analysts indicate that in the current context, their market outlook continues to be prudent, especially after the recent upswing in equities and fixed income, in a scenario of high uncertainty.
“Although the latest data show some moderation in inflation, it continues at very high levels and the ceiling on it has yet to be confirmed, especially in core inflation in Europe. In this sense, we believe that such high inflation will cause rates to continue rising, not seeing reductions in them in 2023, to which is added the materialization of the expected deterioration of the economic cycle and its impact yet to be seen on business results, “they add.
The Brentthe raw Europe’s benchmark, up 1.36% to $79.64.
On Monday, investors will be waiting for the publication of several macroeconomic data such as industrial production in Germany, or the Investor Confidence Index (Sentix) of the euro area.
Likewise, the market is aware of the political situation in Brazil, after the headquarters of the Congress, the Presidency and the Supreme Court of the country were invaded by followers of former President Jair Bolsonaro, in Brasilia.
In the Spanish market, Endesa stands out by falling by 1,69 %; followed by Repsol, 1,45 %; and Colonial, 0.71%.
Telefónica yields 0,59%; Iberdrola, 0,55 %; and Santander, 0,39 %. Inditex, on the contrary, it rises 0.07%; and BBVA, 0,56 %.
Solaria, meanwhile, shoots up 5.47%; Ferrovial, 2,02 %; and Sabadell, 1,85 %.
The yield on the Spanish bond rises to 3.31%, with the Risk premium by 105 basis points.