Expansion / The european stock Exchanges re-freeze, and the Ibex repeats in the 8,600-point common throughout the last week. The people’s bank touches new lows on the Stock exchange, while the electric stand out on the climbs. The euro back above the 1,06 dollars, and the oil is stuck face-up to the summit of the OPEC.
the agenda for The week includes sufficient key references as to unblock the european stock Exchanges. The calm and the tables of the last week could have its days numbered. Wall Street recovers normality after the holiday for the Day of thanksgiving. On Wednesday the summit of the OPEC could lead to sudden changes in the price of oil and, by extension, in the whole of the markets. And the week will conclude with a quote that keeps you on edge, especially, to european investors: the referendum in Italy , scheduled for next Sunday.
In the absence of less than one week for the vote in Italy , the surveys continue to anticipating a defeat of the constitutional reform advocated by the prime minister, Matteo Renzi. A defeat could complicate its continuity at the head of the Government, or, at least, to weaken its position to introduce new reforms. The fear of a new phase of political uncertainty in Italy, in the midst of the rise of parties unfriendly to the euro, has taken a toll on its risk premium, over 180 basis points. The negative differential with respect to Spain already reaches 50 points. But a resurgence of tension in Italy could take a toll on the rest of the markets peripherals, and the price of the euro.
pending further developments, the euro reacts to move away from its recent minimum of 20 months against the dollar. The currency community recovers in excess of the level of 1,06 dollars, compared to the 1,0519 dollars last week. The euro also traded to the upside against the pound , to rise above the 85 pence.
The evolution of the currencies, especially the dollar, could be a key also in the behavior of the price of oil in a week momentous. The summit of the OPEC next Wednesday will consider cutting production agreed. But the recent statements from Saudi Arabia have triggered new doubts about the degree of consensus within OPEC. The largest exporter of crude oil foresees a rebalancing of the market of crude oil, by itself, in 2017, even without the need for cuts in production. The barrel of Brent is still far from the threshold of $ 50, the frozen at 47 dollars, while the West Texas, reference in the USA, suffers to the edge of the 46 dollars.
european stock Exchanges maintain the sign flat usual during the last week. The London Stock exchange continues to be stuck below 7,000 points, and the German Dax repeats one more day to the doors of their annual maximums. The problems grow in Lufthansa. The pilots rejected the last proposal of the airline, and have called for new days of strike for this week. One of the star values from last Friday, switzerland’s Actelion, awaiting an offer to purchase Johnson & Johnson. The american company has confirmed contacts with the group of biotechnology, swiss, valued at about 20,000 million dollars.
The Spanish Stock avoids large changes after chaining six locks in a row in the 8,600 points. The selective index Spanish ended last week with an increase of just 0.6%, a percentage that reduces the cumulative fall in the year to 9%. In today’s session the Ftse leans slightly over the falls, and puts at risk the level of the 8,600 points.
The downward pressure again to be reactivated in Banco Popular. The entity records new lows in a Bag, at the edge of 0,80 euros. The bank receives new referrals unfavorable investment firms. The analysts of Credit Suisse have cut their price target up to 0,70 euro. The whole of the banking is tilted by the falls. At the opposite extreme stand the electrical. Endesa, Enagás and Red Eléctrica try to do in front of the falls up the majority of the Ibex. The actions of Repsol put in danger the level of 12 euros, waiting for the news that will bring the summit of the OPEC.
Next expansion.
SPAIN: The Ibex 35 threatens to prolong their lock on the 8,600
With Information Expansión
http://entornointeligente.com/articulo/9315254/ESPANA-El-Ibex-35-amenaza-con-prolongar-su-bloqueo-en-los-8600
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