European stocks and oil on the upside. Amid minitregua results, heavyweights reinforce the Dow above 8,700 points. Telefonica is encouraged with the possibility of new offers on O2. Falls, meanwhile, are accelerated in Arcelor.
The Spanish stock market comes from disguise a week ended with losses of 3.6%. Still, the Dow managed to halt a run of five straight to end the week with two slight progress falls. In today’s session it is with favorable references from other European markets. The Ibex takes the opportunity to quote higher and prop recovered 8,700 points on Friday.
Unlike previous days, the Ibex has not counted on opening new business results. New products are limited to companies as Almirall Continuous Market and Applus. At the close it will be the turn of two members Ibex as Endesa and Indra. Heavyweights serve this time of support for the Ibex. Inditex returns to touch the 28 euros per share, and Telefonica is encouraged after the British press will emerge the alleged interest of the French Iliad in O2, since the authorities are inclined to block the sale agreed to Hutchison. In the financial sector, Santander has the option to extend your mattress above 4 euros per share, while Bankia suffers valuation downgrade of Citigroup, up 0.8 euros. Indra, waiting for the results to be published at the end, trying to stay on the podium of the best values of Ibex so far this year. Leading the falls include ArcelorMittal and Acerinox, weighed down by the fall in trade figures of China. In the case of Arcelor, in addition, Deutsche Bank has placed its target price at 4.5 euros, down from Friday’s close.
European stocks face doubts from China with encouraging macro data. Industrial orders in Germany, after falling in February, rose 1.9% in March, well above the 0.7% analysts had expected. Investors resume purchases, and the major exchanges erased part of the falls suffered last week. Leads the Athens Stock Exchange advances in Europe, after the Greek parliament approved the controversial pension reform. At the opposite extreme, leading the declines, he highlights the Milan Stock Exchange. The divestments are gaining strength again on the bench, at the gates of the capital of Banco Popolare. The drop in trade figures of China makes a dent in the prices of mining. In the case of Glencore, investors value the placement of another 9.9% of its agricultural division, in a bid to strengthen their balance sheets. The German Dax get the urge to Volkswagen. The activist fund TCI has denounced the “excessive” executive compensation received by the German automotive group in such a delicate time for the company after the ravages of time distortion emissions.
The oil market began the week with a clear bullish sign. The huge fire in Canada continues to paralyze much of the country’s oil production, and its effects are felt in oil prices. A barrel of Brent is close to $ 46, a step away from their yearly highs, and barrel West Texas, US benchmark, treads and heels and Brent above $ 45. The price of gold, meanwhile, remains above $ 1,280 an ounce.
The foreign exchange market minimizes changes in the euro / dollar cross. After the doubts that moved the US employment data last Friday, the single currency repeats the edge of $ 1.14. In its favor in today’s session the euro has the much higher than expected industrial orders in Germany rise.
The changes are also reduced in the public debt market. The interest demanded that the Spanish ten-year bond trades at around 1.6%, while the risk premium is placed back above 140 basis points
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