Quote of the European market
Unlike yesterday, today, European stock markets closed with significant declines, in a session where Greece again take center stage . The uncertainty generated by the lack of agreement between the Hellenic country and its creditors erase the minds of investors. Next week the Greek government must deal with the IMF debt payments.
Today, the highlight was the upward revision of economic forecasts from the European Commission, but have had little impact on markets.
In the afternoon, the US indices recorded widespread declines affected by increased US trade deficit in March, which was the largest in nearly two decades. The good thing is the ISM services in the background, and the markets continue to losses until the close of session.
The risk premium stands at 128 points, with the interest rate of the bond 10 years at 1.798%.
At the close, the CAC lost 2.12%, the Eurostoxx fell by 2.38%, the DAX 2.51% and the FTSE 100 0.84 %
Macroeconomic news affecting the market quotation
In the Eurozone, the producer price index rose 0.2% in March from 0.6% increase in February. In annual terms, the index recorded a decrease of 2.3%.
The number of people claiming unemployment benefits in Spain in April posted its biggest drop in history after falling to 4 118 923 people, 33 million. That compares with the average reduction of 25,000 people in the past seven years in April and marks a third consecutive month of decline in the indicator.
As for the forecasts of the European Commission has revised upwards the economic growth of the Eurozone. The EC expects the Eurozone Gross Domestic Product to grow by 1.5% this year, above the February estimate an increase of 1.3%. Inflation will be at 0.1% this year and in 2016 at 1.5%.
For the whole of the European Union, expected growth of 1.8%, against 1.7% estimated above.
In the case of Spain, although it will moderate in the second half of this year, it will stand at 2.8% in 2015 and 2.6% in 2016, above the forecast pointing to winter 2.3% and 2.5%, respectively. As for consumer prices, expected to remain in negative territory in the short term and down 0.6% for the whole 2015, weighed down by weakness in oil, although they begin to grow slightly in 2016.
In the United States, Purchasing Managers index of non-manufacturing ISM rose to 57.8 in April from the March level of 56.5. A figure above 50 indicates growth in activity from the previous month. Previously, the data provider Markit (NasdaqGS: MRKT – News) announced that its services PMI fell to 57.4 in April from 59.2 in March, but remained above the average for the first quarter of 56.8 .
The trade deficit increased by 43.1% per month to a seasonally adjusted total of 51,370 million dollars in March, data released by the Commerce Department. This is the largest monthly increase in the deficit since December 1996 and the biggest deficit since October 2008.
oil prices and exchange rate euro dollar a European closing
In the derivatives market the oil futures They are trading higher, trading at $ 60.90 environment. In the forex currency market the euro gained ground against the dollar, so that the junction between two currencies is set in the vicinity of 1,117
Business News
On the corporate front, Mapfre (Xetra:. CMAB. DE – news) said net profit fell 8% in the first quarter due to a relatively higher profit growth of those businesses that the company shares with external partners. Mapfre posted a net profit of 201.4 million euros between January and March, compared to 219 million a year earlier, the company said in a relevant fact sent to the market supervisor. Total revenues increased 8.9% to 7515.2 million euros.
Abengoa (NasdaqGS: ABGB – News) has been awarded a turnkey contract Fulcrum Bioenergy Inc to build a biorefinery in the US for $ 200 million. The Seville company explained that this is the first biorefinery will use gasification technology to convert municipal solid waste into synthetic crude, which later transformed into aviation fuel. Abengoa said the project will create more than 500 jobs during the construction phase and 100 additional jobs when the plant is operational.
Deutsche Lufthansa posted a net profit in the first quarter compared to losses in the same period last year thanks to the extraordinary momentum of the early exchange of its convertible bonds JetBlue. Its net profit was 425 million euros (473 million dollars) between January and March, compared to 252 million loss incurred a year earlier. Revenue rose 8% to 6,970 million euros compared to 6,500 million euros.
HSBC Holdings (Xetra: HBC2.DE – News) announced that its net profit increased slightly in the first three months of the year, driven by the strong performance of its operations markets. The bank posted a net profit of 5,300 million in the quarter compared to 5,200 million in the equivalent period last year. Revenues reached 15,900 million, roughly flat compared to the previous year, thanks to the sale of a stake in Industrial Bank (Shanghai: 601166.SS – News).
The benefit of UBS (NYSEArca: FBGX – news) almost doubled in the first quarter year on year by the strength of its business wealth management and investment banking. Its net profit rose to 1.980 billion Swiss francs (2,140 billion) francs, compared with 1.050 billion francs a year earlier.
Lafarge (Paris: FR0000120537 – news) and Holcim (Other OTC: HCMLF – news) have agreed to sell several plants, terminals and a quarry in the United States and Canada, paving the way for their proposed merger. The combined company would become the world’s largest cement.
Goldman Sachs Group increased the top of your fork ‘reasonably possible’ legal expenses to 3,800 million dollars, according to a filing with regulatory authorities.
The net profit of Walt Disney Co amounted to 2,110 million (USD 1.23 / share), from 1,920 million (USD 1.08 / share) in the previous year. The adjusted net profit per share was 1.23 from $ 1.11. Revenue rose to 12.460 million from 11.620 million.
Quote Ibex 35In Spain, the Ibex 35 closed with a fall of 2.74% and the price is set at the level of 11115.6 points Arcelor Mittal and Jazztel (Other OTC: JAZTF – News) as the only securities gains. On the opposite side of the table, IAG, Mapfre and Sabadell lead losses
The largest variations were selective.
Cierre Blue Chips negative for the market. Telefonica fell 1.82% to close at 13,515 euros, Iberdrola lost 2.50%, 3.39% back Santander, BBVA and Repsol 2.38% 1.14%.
Graphic intraday Ibex 35:
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