2023-08-04 18:03:41
The European stock markets say goodbye to a week marked by red numbers due to the uncertainty that Fitch’s rating downgrade of US debt has left. The Ibex-35 has dropped 3.27% in the accumulated of these days, although it holds over 9,300 points after rising 0.66% on Friday and thus cutting a downward streak that had led it to add five consecutive days of falls.
Indra was the great protagonist of the session leading the falls (-1.19%) after confirming the agreement with Bain Capital Private Equity for the entry into the share capital of the Basque aircraft engine company ITP Aero, through the acquisition of a indirect participation of 9.5% for an amount of 175 million euros.
Within the national parquet, Fluidra, Acciona and Rovi compensated with increases of more than 2% at closing.
Investors were especially attentive this Friday to the official employment data in the world’s leading power, which this August acquires special relevance given the doubts surrounding the end of the cycle of raising interest rates by the Federal Reserve ( fed).
The consensus expected the creation of 200,000 jobs, with a fixed unemployment rate of 3.6%. Finally, the figure has remained below with the creation of 187,000 jobs. But the unemployment rate surprised by falling to 3.5%, while wages grew by 0.4%, compared to the 0.3% expected by the market.
Waiting to verify the effect that these disparate data will have on the Fed’s upcoming decisions, the market has also been very attentive to the evolution of the technology sector, with the results of giants such as Apple or Amazon. The apple company especially accuses the slowdown in the rate of sales of its flagship product, the iPhone. However, its net profit continues to rise, 2.25% more, in the third fiscal quarter (April-June 2023), up to 19,881 million dollars (18,169 million euros).
Regarding total sales, it invoiced 81,797 million dollars (74,756 million euros), which is 1.4% less than in the same period of the previous year.
Meanwhile, in the commodity market, the price of oil props up the increases given the forecast that OPEC will maintain production cuts. At its meeting this Friday, the Committee of the group of the largest producers reaffirmed its commitment to the decision to extend the current production cut (3.6 million barrels per day) until the end of 2024.
With this scenario, the price of a barrel of Brent, a reference in Europe, recovers to 85.6 dollars, while West Texas in the United States exceeds 82 dollars.
The rise in the price of oil is boosting companies in the sector on the stock market. In the Spanish market, Repsol stood out with an advance of more than 0.9% at the end of the session.
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