The Ibex 35 has closed flat, at 8,525 points, after learning that the US FDA (Food and Drug Administration) has asked to pause the use of the Johnson & Johnson vaccine due to possibly related blood clots cases. In Europe, the American multinational, which distributes the vaccine through its Janssen subsidiary, has decided to "delay the launch in Europe" until the situation is clarified.
- 11.656,600
- 0,39%
Spain expected 300,000 doses of this vaccine this Tuesday, so this represents a serious setback to advance in the vaccination process, since 5.5 million doses were expected in the second quarter. From the FDA they have commented that they hope to issue an assessment "in a matter of days."
By values, Telefónica has been one of the worst on the Ibex, with cuts of 1.92%, on a day in which Barclays has cut estimates for its German subsidiary.
BBVA has also fallen 1.25%, which has called the unions to negotiate the ERE that will affect some 3,000 employees and will focus on its financial city of Madrid and Catalonia, according to Bolsamanía published last week.
On the positive side, Solaria, Cellnex, Fluidra and Acerinox have stood out, which has received a valuation increase from Deutsche Bank.
However, it should be noted that the European indices remain considerably immune to the news that is becoming known about the Covid and vaccines. It gives the impression that investors are already looking forward to the earnings season. In the United States it will start this Wednesday, while in Spain it will start next Tuesday, April 20, with Enagás. On April 23, Bankinter will announce figures and the last week of the month Santander, BBVA and Sabadell will publish their first quarter results.
In addition, this Tuesday CaixaBank began its meetings with the unions for the ERE that it plans to carry out and which is expected to affect some 8,000 employees. And this Monday, after the close, it was learned that the Norwegian sovereign wealth fund, Norges Bank, has entered the capital of Naturgy with a 1,143% stake in the full takeover bid for IFM.
It has also been news that the Civil Guard is registering Abengoa's headquarters in Seville by order of the National Court.
ZEW AND CPI IN USA
Investors have been pending this Tuesday for two macro references. On the one hand, the German ZEW for April was a negative surprise (economic sentiment stood at 70.7, below expectations of 79) and on the other hand the CPI for the United States for March.
Inflation has risen more than expected, to 2.6% year-on-year, but it has not caused a rebound in bonds and wasn't taken into account by the market, with the Nasdaq 100 hitting all-time highs on Wall Street.
In addition, it should be noted that in Asia "the first surprise is the Chinese balance for March", as highlighted by Jeffrey Halley, analyst for Asia Pacific at Oanda. "In dollar terms, the surplus plummeted to $ 13.8 billion, compared to an expected surplus of $ 52 billion. Exports rose 30.60% year-on-year in March versus 35.50% expected. The real surprise is that March imports increased by 38.10% year-on-year, compared to the expected 23.30%. Imports rose in a generalized way, led by steel and industrial metals, natural gas and crude oil, and, above all , mechanical and electrical products and meat, which increased more than 25%, "explains Halley.
Oxford Economics experts note that Chinese exports and imports remain "strong." "We expect export momentum to remain strong through the remainder of 2021. While delays in global shipping pose a challenge in the short term, the strong global economic recovery we expect this year should support China's export prospects," write about it.
OTHER MARKETS: NEW BITCOIN HIGHS
The euro increases in value 0.2% and trades at 1.1933 dollars. Oil rose 0.8%, to $ 63.82 for Brent and $ 60.20 for West Texas.
Gold is up 0.5% to $ 1,743 and silver is up 2% to $ 25.35.
Bitcoin Sets New All-Time Highs Above $ 62,000 (+ 4%, $ 62,705); and Ethereum is up 3% to $ 2,205.
The yield of the 10-year American bond stands at 1.669% and that of the 10-year Spanish bond falls to 0.38%.
