2023-08-14 19:17:36
Session with little volatility and without a clear direction among the main world selectives. The falls that began in Asia, again led by the Chinese indices, gave way to a slight recovery in the financial markets. It seems that the decision of the regulator of the Asian giant, to establish greater surveillance and help on possible defaults within the real estate and financial sector, had the desired effect, ruling out for the moment the possible contagion effect in the rest of its economy.
Globally we are also seeing significant movements in fixed income. Following the publication last week of the inflation and employment data in the US, the yield on the 10-year bond has risen to reach the highs of last November, extending these increases to Europe. This behavior is causing the dollar to reach the highs of the last two months due to the greater attractiveness of its investment.
Referring to the Ibex 35, the day ends consolidating 9,400 points. The falls in the utilities sector due to the increase in interest on the debt, managed to be offset by the rises in the banking sector, with Unicaja prominently leading the session. Down session in most sectors, mainly those more closely linked to raw materials that correct strongly after the appreciation of the American currency. Thus, companies such as Repsol, which maintained a clear positive trend, see their latest increases paralyzed, while Arcelormittal manages to finish flat thanks to an improvement in the recommendation of different analysis houses. The pharmaceutical sector manages to save the session thanks to its defensive nature, with Rovi and Grifols finishing positive.
Tomorrow, at a corporate level, the publication of quarterly results of Home Depot stands out, one of the great references of the retail sector in the US, while at a macroeconomic level the greatest relevance will be found in Japan’s GDP, and retail sales of the first and second world power.
Manuel Pinto, XTB analyst
#China #debt #infect #Ibex