European stocks slow despite 'favorite' win in France
The centrist candidate Emmanuel Macron prevailed yesterday to Le Pen in the French presidential elections
- The results season continues, with Sacyr's turn today and throughout the week of Endesa or Telefónica
The stock markets are free to celebrate the victory of the favorite candidate of the market in France, although for now it is not being so. Emmanuel Macron (Marche) clearly prevailed on Marine Le Pen (National Front) and, although the legislative elections of June for the composition of the Assembly remain, dissipates the political uncertainty with the risk of an extremist and anti president -European in Paris. However, perhaps due to waiting for this appointment or because the result was already discounted, the market starts the week with few changes and falls near the half percentage point in the case of the Ibex 35, which trades above 11.100 points and that Had opened up.
The stock markets had partly offset the result, after rising strongly last week. The Ibex appreciated by 3.9% in the last five sessions and accumulated a rally of 19% in the accumulated of the year. The pull of the banks, after the publication of the accounts, has allowed this new boost for the Ibex, which closed on Friday at 11.135 points. The figures of the seven financial entities of the index were balanced with an increase of 20% in the first quarter to 4.009 million euros, although only Bankinter can boast a return (ROE), higher than the cost of capital.
The improvement in net profit comes despite Banco Popular losses, although the bank chaired by Emilio Saracho jumped 8.85% on Friday after the Chilean group Luksic entered the capital, and corrects 1% on Monday, Leading the losses in the Ibex with great volatility. The entity loses 18% of its stock market value in the year and 60% in the last 12 months.
Today, banks are quoted with generalized losses, with the exception of Bankinter. The rest of 'blue chips' like Inditex or Telefonica also opt for red. In Paris, the CAC 40 loses 0.3%, while in London the FTSE 100 yields 0.1%. The German DAX is out of this dynamic with a rise of 0.15%.
