The Ibex and the rest of the European stock markets begin the week with doubts and moderate movements as the virus outbreaks follow the world and after it is known that the disease has already killed 500,000 people, according to data compiled by Johns Hopskins University. The number of confirmed infections has exceeded 10 million.
- 11.435,700
- -0,28%
Deaths in the United States represent more than 20% of deaths reported by Covid-19, more than any other country in the world, followed by Brazil, the United Kingdom, Italy and France.
Asia fell sharply this morning (-1.5% on average) after knowing these data and also affected by declines in oil. The increase in coronavirus cases in Asia has led to the reimposition of localized closings in some countries, which could dent the demand for crude.
All in all, the Ibex will fight not to lose the first support it presents at 7,090 points, while the first resistance is at 7,664 points.
This week will be marked by the United States holiday on Friday (Independence Day), which will mean that the June employment report is published on Thursday. That same day the unemployment rate in the euro zone will also be known. Regarding the calendar for this Monday, the preliminary CPI for June will be published in Spain, while Germany will also announce the same reference. The indicators of European economic confidence will also be released today. In addition, the market will be awaiting the appearance of Andrew Bailey, Governor of the Bank of England.
For the rest, this Monday there is a meeting between the French President, Emmanuel Macron, and the German Chancellor, Angela Merkel, in Meseberg, before the summit on July 17 and 18. The two leaders will discuss what strategy to use regarding the recovery fund. Negotiations between the EU and the United Kingdom also resume today with meetings of both parties in Brussels. "We continue to believe that there will be no major breakthroughs during the summer as we are still a long way from the 'real' deadline of December 31, 2020," experts at Danske Bank point out.
