The Ibex 35 rises 0.1%, to 9,011 points, after having marked an intraday low at 8,903 integers. The selective has turned around in the final part of the day, after a slightly bullish opening on Wall Street. In any case, concerns about global growth and trade tensions continue to affect investor sentiment. We remind that the selective closed the month of May with a loss close to 6% (-5.7%).
- 11.473,900
- 0,33%
The week will be marked by two issues: Brexit and what the European Central Bank (ECB) has to say this Thursday. Brexit will take center stage in the hand of the untimely visit of Donald Trump to the United Kingdom, which is contributing further stress to things.
It should not be forgotten that Trump is a supporter of a hard Brexit and that he has already said that, in addition to Theresa May, he intends to meet with Boris Johnson and Nigel Farage, both also inclined to this option.
Also, this Friday May will resign as leader of the Conservative Party, which will give the official kick-off to the race to occupy her job.
As for the ECB, as always, what the organism and its president, Mario Draghi, has to say, will be analysed with a magnifying glass and will surely become a catalyst for the markets. The experts talk about an "important" meeting.
"It is very difficult for the tension to relax substantially, there may be weeks of euphoria, like the one that comes with what the ECB does but, while the most basic conditions that generate uncertainty in the market do not envision a solution, we are at risk of continuing to see volatility, "says Borja Gómez, director of analysis of Inverseguros-Dunas Capital.
"Everything depends on how much this commercial uncertainty is maintained, and it can be maintained longer." Looking ahead to the end of the year, it is very likely that the press and the markets will reign and dominate, and I do not rule out that Trump applies tariffs to the EU ", concludes Gómez.
Meanwhile, Donald Trump's announcement last week when he threatened to impose tariffs on Mexico continues to make noise. All this, while the relations between China and the US continue to be stressed, which increasingly makes an agreement difficult. The concern for this whole issue is the biggest element of pressure right now on the markets.
Another element of uncertainty is the political situation in Europe. Italy is under scrutiny, and so is Germany after the resignation of Andrea Nahles, leader of the German Social Democratic Party given the poor results in the European elections.
Regarding the macro data of the day, the manufacturing PMI have remained stable. In France it has remained at 50.6, in line with what was expected and with the previous data. In Germany, it stands at 44.3, as in the previous month and also as expected. In the Euro Zone, it has remained at 47.7 against the 47.7 expected. Spain was the only country in which the PMI was below the previous month and as expected (by 50.1 compared to the estimate of 51.3 and 51.8 previously).
