The Ibex and the rest of the European stock exchanges try this Friday to follow the behavior of the US and Asia and rebound (albeit timidly) after the declines of last session due to the pessimism shown by the Federal Reserve (Fed) in its latest minutes. Today investors are going to be very aware of the preliminary PMI, manufacturing and services, for the month of August, a very relevant reference to observe to what extent the economy is recovering from the crisis.
- 11.105,500
- 0,50%
"Major European economies will release their August Manufacturing and Services PMI reports. On manufacturers, France, Germany and the UK are expected to come in at 53.7, 52.5 and 53.9, respectively. to services, the French, German and UK updates are expected to be at 56.3, 55.1 and 57, respectively, "explains David Madden, analyst at CMC Markets in London.
In the United States, the manufacturing and services PMIs will also be released, the consensus estimate is 51.9 and 51, respectively. For its part, the report of sales of existing homes in the US is expected to be 5.38m. "Keep in mind that the latest building permits and home startup reports were well received," adds Madden.
This Thursday, weekly unemployment claims were released on the other side of the Atlantic, rising and exceeding one million people (against expectations of a drop compared to last month), although continuing claims fell slightly, to 14 , 8 million. In addition, the business outlook for the Philadelphia Federal Reserve experienced a larger than expected setback.
For now, and waiting to see what it does this Friday, the Ibex falls over 2% in the week. It is important to see if the selective manages to finish the week above 7,000 points. At the moment, it starts from 6,993 points today after losing this level last day.
Otherwise, the focus remains on the tensions between the US and China, with the US government refusing to acknowledge the claims of the Chinese Ministry of Commerce that negotiators from Washington and Beijing will return to the table to discuss the trade agreement of ' phase one 'of the two countries in the coming days.
In Europe, Russian opposition leader Alexei Navalny was hospitalized on Thursday on suspicion of poisoning, and German media reports that a plane has been chartered to bring President Vladimir Putin's most prominent critic to Germany for treatment.
The minutes of the last meeting of the European Central Bank showed on Wednesday that policy makers debated the flexibility of the historic Pandemic Emergency Purchase Program.
Finally, remember that Pfizer and BioNTech said yesterday that the vaccine for Covid-19 that they are jointly developing is on the way to being subjected to a regulatory review already in October. The news helped boost US stock markets.
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