- All the stocks of the Old Continent have closed with important falls
- Wall Street also trades with falls of 1%
- The tensions of the trade war between the US and China have destabilized the markets
Day in red for the world stock exchanges. In the case of the Ibex 35, the index almost lost the 9,500 points after falling by 0.6%. The rest of the bags of the Old Continent have followed the same path and all of them have closed with falls. However, it should be noted that both the Ibex and the others have reduced the falls during the session, in the case of the Spanish index it had initially fallen 1.2%, pressured by the trade war between the US and China.
- 11.154,600
- 1,56%
European stock markets continue to show weakness amid the upsurge in the trade war between China and the United States. The 'struggle' between these two economic giants has accelerated in the last hours. On the one hand, the US has made public the list of 1,300 Chinese products on which it will impose tariffs of 25%. Faced with this decision, China's response has not been waiting, in less than 11 hours has announced the application of a 25% tax on imports from the US of 106 products, including cars, soybeans and whiskey.
This has taken its toll on the Ibex's values, especially those most exposed to the US and China. Thus, ArcelorMittal has been the red lantern of the session with a drop of more than 4%, and is that the steel company is one of the most affected by its exposure in the US.
Siemens Gamesa has fallen 2.65% on a day marked by the meeting between the president of Siemens AG, Joe Kaeser and Iberdrola’s, Ignacio Sánchez-Galán. This meeting takes place in a moment of confrontation over the management of the merged company.
The third value with the worst performance was Amadeus, which has dropped a little more than 1%. However, it has not been a good day either for the big five of the Ibex, since all have closed with falls, highlighting that of Telefónica of 0.8% and that of Banco Santander, of 0.67%.
On the other hand, Melia Hotels has been the value that recorded the highest rise of the session, 18% to 11.4 euros. It was followed by DIA, which has been revalued by 1.5%. The supermarket chain announced on Tuesday, at the close of the market, an agreement with Nanjing Suning.Com Supermarket, a company belonging to the Chinese group Suning, for the sale of 100% of the shares of the Chinese companies Shanghai Dia Retail and DIA (Shanghai) Management Consulting Services, operation that will suppose the exit of the group of the Chinese market.
On the main board, this Wednesday we must highlight the rise of Oryzon, almost 5% after receiving the approval of the Spanish regulator to advance the trials of ORY-2001 for Alzheimer. On the other hand, the National Securities Market Commission (CNMV) has provisionally suspended Hispana's share price just before the market closed due to Blackstone's interest.
OTHER MARKETS
All the global stock markets have suffered. In the case of the European ones, the DAX 30 has dropped 0.6%; the CAC 40, 0.4% and the FTSE 100 of London, 0.12%. On the other side of the Atlantic, Wall Street is trading with a 1% drop due to tension between the US and China. In addition, the ADP employment report has been published, which has shown the creation of 241,000 jobs.
As for the euro, the community currency rises 0.26% in its exchange rate against the dollar to 1.2303 'greenbacks'. Finally, oil falls 0.75% to reach 63 dollars in the case of West Texas and 68 dollars in the case of Brent.
In terms of the day's news, it is worth mentioning the publication of the CPI for the Eurozone in March, which has risen by 1.4%, as expected. "Today's main publication will be Eurozone inflation." In line with the figures for countries published last week, we expect headline inflation to reach 1.5% in March, supported by a temporary rise in core inflation to 1.2% due to the effects of Holy Week, "said the Danske Bank experts in their first-hour report.
"Despite the expected increase in March, we do not expect headline inflation to break above 1.3% in 2018 as the underlying pressure of prices remains moderate and not even wage growth, which remains below its historical average, nor our estimate of 'super core' inflation point to a strong increase in core inflation in the short term, "added these analysts. Core inflation has finally risen by 1.0%.
The unemployment rate for the Eurozone has also been published, which has been 8.5% as expected and compared to 8.6% previously.
TECHNICAL ANALYSIS
José María Rodríguez, technical analyst at Bolsamanía, points out that the only interesting thing about this Wednesday's session is that the selective closes far from the minimum of the session. Otherwise everything remains the same. From the highs reached at the end of January we have impeccable maximums and decreasing minimums and therefore the corrective phase, rebounds aside, remains intact. "This is, to the extent that we do not jump (at least) above the last decreasing maximum, in the 9.657 points, we won’t have anything," he explains.
Actually, the only thing we can grasp on to in the short term is the fact that the two great European futures (Dax and Euro Stoxx 50) have respected at all times the supports they present at the annual minimum, this is 11,700 points of the future of the Dax and the 3,170 points of the future of the Euro Stoxx 50. And in the fact that the levels of fear on the other side of the Atlantic give extreme readings, which in normal conditions should be the prelude to (at least in the short term) of a significant rebound. The Dow Jones rebounded on Tuesday from the February lows. As the S & P 500 has done again from the daily MM200. "Therefore, and to the extent that the media continues to work, we could bet on a rebound of a certain entity, and then we will see," he concludes.
