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Tranquility in the European stock markets this Thursday (Ibex: + 0.09%. 8,595 points). Within the selective, the undisputed protagonist is Meliá, which rises 5% thanks to an improvement in the valuation of Société (it raises its price to 8.5 euros and recommends buying). All this, after the mixed close yesterday on Wall Street (with falls of 1% on the Nasdaq) and after Asia has seen disparate movements in the different indices. Today the spectacular premiere on the stock market of the cryptocurrency broker Coinbase is still waiting, which after reaching a 70% jump (and reaching a maximum of 428 dollars), finally closed with increases of 30% (328 dollars).

IBEX 35

  • 11.154,600
  • 1,56%

Investors are still awaiting vaccine news, the suspension of use of Johnson & Johnson and that announcement related to Pfizer, which will advance deliveries of 50 million doses to the European Union (EU) from April. Everything that happens in the economy is related to the rate of vaccination. However, in equity markets, indices have become quite immune to any kind of news in this regard.

MORE RESULTS AND HIGHLIGHTS IN MACRO DATA

Today continues the results season in the United States, with the accounts of Citigroup, Bank of America or Pepsico. In addition, at the macro level, the retail sales for March will be released on the other side of the Atlantic, as well as the latest weekly figures for unemployment claims, which have registered a couple of weeks of increases.

"These increases have gone against the prevailing narrative of a rapidly recovering labor market. However, as with any weekly data, it is important not to get too carried away by these types of swings. A decline from 744,000 to 700,000 is expected." explains Michael Hewson, chief analyst at CMC Makets in London.

The agenda for this session also includes the Philadelphia Fed index in the US and the March CPI in Germany, France and Italy.

BEWARE OF OIL

Oil calms down at this time on Thursday (trading flat, with Brent at 66.53 dollars and West Texas at 63.05 dollars) after the strong rises of the past day.

The rises this Wednesday came after the International Energy Agency (IEA) and other bodies have improved forecasts for oil demand as major economies recover from the pandemic.

Crude inventories in the United States fell by 5.9 million barrels last week, the IEA reported on Wednesday, more than double what analysts expected, who forecast a decrease of 2.9 million barrels. East Coast crude stocks hit a record low.

"We see a robust withdrawal from stock, even after accounting for downside risks, as refinery operations are going to increase strongly in the coming months," Citi Research analysts say in a note.

Gasoline supplied to the market last week, an indicator of US fuel consumption, rose to 8.9 million barrels per day (bpd), the highest level since August, according to the IEA report.

OTHER MARKETS

Bitcoin is up about 2% to $ 62,850. The president of the Federal Reserve (Fed), Jerome Powell, has returned to speak of the 'crypto' and has said that it is purely speculative, emphasizing that it is not really used to pay for anything.

The euro is trading at this time at $ 1.1974. Gold and silver rose moderately, to $ 1,741 and $ 25.54, respectively.

The yield on the 10-year American bond falls to 1,631%.

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