The European stocks have closed with slight increases at this time on Friday, with the exception of London, which has done so in red after announcing a quarantine for all those who come from abroad. The Ibex has advanced 0.17% thanks to the great push from banks and Mediaset (+ 3.87%). This, after the session of strong cuts in Asia - especially in the Hang Seng - after China has reported that it is planning to introduce a national security law in Hong Kong. Such a move would strengthen Beijing's control over the territory, which would likely provoke protests.
- 11.154,600
- 1,56%
Last year, protests were common in Hong Kong, some of which caused major disruption, so investors are now concerned that the situation may flare up again. Experts note that President Trump is likely to step in if the Chinese authorities take a firm stance on Hong Kong.
Within the Ibex, there have been notable increases in Bankinter (+ 5.96%), Bankia (3.75%), Santander (2%) ... while on the negative side, titles such as IAG (-7) have been found. , 28%) and Acerinox (-1%). In the Continuum, Deoleo (-32.29%) has fallen sharply (-15%). The CNMV has announced that it will be suspended from trading as of Monday within the framework of the 'accordion operation' that it is carrying out.
The day on the other side of the Atlantic is not being very positive either. Wall Street trades a mixed sign. The give and take between China and the United States continues to capture the attention of the market. In addition, it is very important to note that the S&P 500 has slowed down against the significant technical resistance presented by the main world indicator in the area of 2,950 to 3,000 points.
Continuing with Asia, due to the uncertainty caused by the Covid-19 emergency, the Chinese government has not issued a growth target for 2020, which has also weighed on stocks in the Far East. Recently tensions between the United States and China have increased, but this Friday China has promised to implement its trade agreement with the United States.
As for other issues, the latest macro data has drawn a picture of economic improvement in both Europe and the United States. France, Germany and the United Kingdom released their manufacturing and services PMIs for May on Thursday, and all reports showed that activity levels are still in contracting territory, but not as bad as the previous month. "It is encouraging to see that economic activity is moving in the right direction, but make no mistake, PMI levels are still horrible," says David Madden, analyst at CMC Markets in London.
Otherwise, the focus of the market continues to be on the pandemic. The United States has paid AstraZeneca up to $ 1.2 billion to insure nearly a third of the first 1 billion doses planned for its experimental vaccine, while Britain announced Thursday that it will acquire more than 10 million tests for antibodies to the coronavirus from Roche and Abbott.
Finally, remember that this Friday the minutes of the last meeting of the European Central Bank (ECB) are published.
