The Ibex 35 advances 0.9%, to 9,292 points, and is trading at annual highs. Within the index, the increases in Siemens Gamesa, Solaria and Acciona, in addition to Repsol, Inditex or BBVA, have stood out, while IAG has been the most bearish value due to the uncertainty coming from the United Kingdom in relation to the restrictions to curb the Covid.
- 11.656,600
- 0,39%
From a business point of view, this Monday there was talk of Philips, which has dropped after announcing the withdrawal of defective ventilators and respiratory devices from the market.
In Spain, Grifols has received the valuation upgrade from Deutsche Bank (it raises its securities from 25 euros to 30 euros). Although the pharmaceutical company has been one of the worst of the Ibex after the high on Friday after the news about Vertex.
THE BANK OF SPAIN RAISES FORECASTS
On the other hand, the Bank of Spain has revised its economic forecasts upwards. It foresees that, in a central scenario, our country will grow 6.2% in 2021 and 5.8% in 2022. For its part, the unemployment rate will stand at 15.6% this year, below 17 % previously estimated, while it would drop to 14.7% in 2022 and 13.7% in 2023.
On a macro level, today the industrial production of the euro area for April was known, which rose by 0.8%, double the forecast.
In addition, the big date this week for investors will be the Federal Reserve (Fed) rate meeting, whose conclusions will be known on Wednesday, with the European markets closed. No changes are expected in the monetary policy of the US central bank, which is expected to continue with its stimulus and give the rise in inflation its fair importance.
"The Federal Reserve considers the recent rise in inflationary pressures to be transitory and should diminish as the year progresses and base effects wear off. While there is much evidence to support this, central bankers appear to be making a move. lots of assumptions that could be turned against you if they turn out to be wrong, "warns Michael Hewson, chief analyst at CMC Markets.
"For now, it looks like the Fed will be on autopilot through the summer, and the markets seem to give it the benefit of the doubt. It wouldn't take much for this to change if the data starts to surprise to the upside consistently, which could get (bond) yields back up, "he adds.
"LOW" G7 MEASURES
This Monday, the decisions of the G7 leaders, meeting over the weekend, are also in focus. They have pledged to lead the world out of the pandemic and coronavirus crisis, promising more than 1 billion doses of coronavirus vaccines to the poorest countries, helping developing countries grow while fighting change. climate and supporting a minimum tax on multinational companies.
"As expected, the G7's tangible actions were very rare, apart from the commitment to supply 1 billion vaccines to developing countries, although most will not arrive until 2022. No major commitments on climate were made in the communiqué. , economic cooperation, Covid or China, "says Stephanie Kelly, an expert at Aberdeen Standard Investments.
"The relief that it was President Biden who was in the talks, rather than President Trump, was visible. There were numerous photo opportunities around the barbecues and the bilateral meetings, but having a constructive partner in the US is not Enough to turn the divisions among the major powers on key issues, ”adds Kelly.
THE BITCOIN RACES 40,000 AGAIN PER MUSK
The price of bitcoin rose 10% this Sunday night (still advancing at this time, + 8%; $ 40,720) after Tesla CEO Elon Musk said on Twitter that the electric vehicle manufacturer could return to accept bitcoin transactions in the future.
Musk said on Sunday that Tesla will re-allow bitcoin transactions "when a reasonable use (~ 50%) of clean energy by miners is confirmed with a positive future trend."
Tesla halted bitcoin car purchases in mid-May, citing concerns about the climate impact of cryptocurrency mining. It requires enormous amounts of energy to power powerful computers. It consumes more energy than entire countries such as Finland and Belgium, according to the Cambridge Bitcoin Electricity Consumption Index.
OTHER MARKETS
The euro trades at $ 1,212. Oil is up 1%, to $ 73.50 for Brent and $ 71.70 for West Texas. These are the highest levels since 2019.
Gold falls 0.5% to $ 1,869, as does silver, which is trading at $ 28.08 an ounce.
Ethereum is up 5% to $ 2,570.
The yield on the 10-year American bond stands at 1.462% and the yield on the 10-year Spanish bond rebounds to 0.39%.
Musk said on Sunday that Tesla will re-allow bitcoin transactions "when a reasonable use (~ 50%) of clean energy by miners is confirmed with a positive future trend."
Tesla halted bitcoin car purchases in mid-May, citing concerns about the climate impact of cryptocurrency mining. Cryptocurrency mining requires huge amounts of energy to power powerful computers. Thus, it consumes more energy than entire countries such as Finland and Belgium, according to the Cambridge Bitcoin Electricity Consumption Index.
OTHER MARKETS
The euro trades at $ 1.2102. Oil rose 0.4%, to $ 73.02 for Brent and $ 71.22 for West Texas.
Gold fell 0.7% to $ 1,866 and silver 0.6% to $ 27.98.
Ethereum is up 2.55% to $ 2,493.
The yield on the 10-year American bond stands at 1,464%.
