- French Cac and German Dax rise 1%
- The meetings of the ECB and the Fed or the German elections will be three of the key meetings this month
It starts September in the markets with many unknowns in the horizon and also much caution on the part of the investors. That yes, the bags have opted for the rises in this first session of the month. The Ibex 35 has risen 0.25% to 10,325 points, while the rest of European stock markets have also closed with major increases, with the German Dax 30 and the French Cac 40 about 1%. The Spanish selective closes with a slight fall of 0.20%.
- 11.531,600
- 0,50%
ArcelorMittal (+ 2.59%), Grifols (+ 2.02%) and IAG (+ 1.47%) rose on Friday. The highest numbers have been Mediaset España (-2.33%), Siemens Gamesa (-1.32%) and Bankia (-1.12%). Among the heavyweights, Banco Santander rose by 0.33%, BBVA by 0.16%, Iberdrola by 0.13%, while Telefonica closed flat and Inditex by -0.20%.
August has brought a negative balance of -1.9% in the Ibex while the rest of European markets, as well as the American ones, have ended the month practically flat. The lateral tone continues in the markets, but the month that begins on Friday, which means the start of the stock market, comes 'cargadito'.
This same Friday has been known the August Employment Report in the United States, a fundamental data of those that follows the Federal Reserve (Fed) to determine what it does with rates. In fact, the data has been worse than expected -156,000 new jobs versus expected 180,000-, so the market has reduced the likelihood of another rate hike this year from 42% to 37%.
Next week kicks off with the Wall Street Labor Day holiday, so the start of the month will be quiet, but that same week there will be a meeting of the European Central Bank (ECB) on Thursday, with investors keenly aware of what they have That Mario Draghi said about the withdrawal of stimulus and the strength of the euro, which is now trading at 1.1912 (+ 0.04%) after exceeding this week the level of 1.20 against the dollar.
Elections in Germany (September 24), debate on the US debt ceiling and other quotes, such as the Bank of England rate decision (Sept. 14), will complete a month full of relevant events.
Moreover, the macro agenda of the day, besides including the US employment data, comes loaded with the manufacturing PMI of August. In Japan, Nikkei's manufacturing PMI stood at 52.2, while in China, manufacturing PMI Caixin has risen to 51.6 (up from the expected 50.9). In Spain and Germany, PMI have fallen below expectations (52.4 and 59.3, respectively), while in Italy it has exceeded expectations (56.3) and in France (55.8) and the Euro Zone (57.4) were in line with expectations.
In the political arena, uncertainty continues to grow around the negotiations for Brexit. This Thursday was the last day of the third round of negotiations. European Union (EU) chief negotiator Michel Barnier said the discussions had not produced the kind of progress needed in the new phase of negotiations set for October.
Meanwhile, the geopolitical reality continues to weigh heavily on investors, who are still waiting for any news that has to do with North Korea after the launch of that missile that flew over Japan. Japan has announced that it will increase its military budget by the Korean threat.
To all this must be added the consequences of Hurricane Harvey, who continues to push oil. At this time, Brent trades at $ 52.31, up 2.85%, while West Texas is down 0.30%, to $ 47.09.
"The movement of the last sessions does not tell us anything on the daily chart." "If the price has bounced once again from the base of the bearish channel of the last few months, but in weekly candles we like the drawn sail. Remember we had falls on Monday and Tuesday and the next three sessions have been price recovery to close at practically the highs of the week.Therefore what we have drawn has been a small 'hammer' from support zone (base Of the channel) after several weeks of continuous downward dripping, and this 'hammer' candle with potential rebound implications becomes clearer still, among other indices, in the Euro Stoxx 50, explains José María Rodríguez, Technical analyst of Bolsamanía.
"Therefore and whenever geopolitical events do not stop it gives the sensation that the rebound can have continuity next week: with a first goal of rise in resistance of the 10,445 points and above the top of the bearish channel, Now in the 10,630 points, "comments Rodríguez.