Yesterday the main European indices closed lower again, although with moderate falls, with the specific exceptions of the British FTSE 100, which was flat, and the Italian FTSE Mib, which ended the day higher, which can be interpreted as investors received relatively positively the results of the legislative elections held this weekend in the country, in which the right-wing coalition has won with some ease, although it has not obtained the qualified majority necessary to be able to modify the Italian Constitution without have to hold a referendum.
This Tuesday, the bears take a break and the main European stock indices wake up to the upside, trying to recover some of the ground lost after three consecutive days of declines. In this way, the IBEX 35 rises 0.68% in the 7,557, the DAX rises 1.04% in the 12,355, the FTSE100 of London climbs 0.32% to 7,043.6 points and the FTSE MIB of Italy adds 0.84% in the 21,386. For his part, the Euro Stoxx 50 advances 0.88% to 3,371.85 points.
In the foreign exchange market, the pound sterling (GBP) breathes after a very volatile day yesterday, moving about 6% between the high and low of the session. We cannot forget that the British currency shows a decrease in the year of over 20%, due to the economic slowdown in the United Kingdom and the strengthening of the greenback (USD). Today it starts above $1.08. In any case, yesterday Bank of England said he would not hesitate to change interest rates and is watching markets “very closely” after the pound tumbled to an all-time low and British bond prices plunged in response to new financial plans. Government.
The Swedish Maritime Authority has issued a warning on Tuesday about two leaks in the Nord Stream 1 gas pipeline in Swedish and Danish waters. “There are two leaks in the North Stream 1: one in the Swedish economic zone and one in the Danish one. They are very close to each other,” a spokesman for the Swedish Maritime Administration told Reuters. The leaks were found northeast of the Danish island of Bornholm, the spokesman said. It is not clear what has caused the leaks. On Monday, Danish authorities have asked ships to stay away from a five-nautical-mile radius southeast of Bornholm after a gas leak from the dormant Russian-owned Nord Stream 2 pipeline spilled into the Baltic Sea.
The confidence of German exporters it is the lowest since May 2020, according to the Ifo. Export expectations fell to -6.0 points in September from -2.8 in August, the lowest since May 2020, he said. “Export expectations are negative in most manufacturing industries,” said Ifo President Clemens Fuest, although beverage producers are once again optimistic and the automobile industry expects an increase in exports in the fourth quarter. . Exports from Europe’s largest economy fell 2.1% in July from the previous month, affected by the collapse of demand from the two most important commercial clients of Germany, China and the United States.
Bitcoin recovers the level of 20,000 dollars
The oil prices They rose, after falling to nine-month lows due to the rise in the dollar a day earlier, on signs that OPEC+ tried to prevent a price crash. Oil starts the day in the green, but Brent is still below 85 dollars. At this time, brent futures rise 1.45% in the 84.07 dollars and those of the west texas down 1.54% to $77.91 a barrel.
wall street falls and sinks further into bearish territory. The DOW JONES Ind Average closed yesterday with a subtraction of 1.11% at 29,260.81 points, the S&P 500 1.03% was left to 3,655.04 and the NASDAQ100 it lost 0.51% in the 11,254.11 units. This morning the American futures wake up with rises between 0.96 and 1.23%.
With the Fed signaling last Wednesday that high interest rates could last into 2023, the S&P 500 has given back the last gains of a summer rally. “Investors are throwing in the towel,” said Jake Dollarhide, CEO of Longbow Asset Management. “It’s the uncertainty about the Fed’s interest rate ceiling. Is it 4.6%, is it 5%? Is it sometime in 2023?”
After registering promotions against its most traded crosses in seven of the last eight sessions, the American dollar takes a breather and trades negative against its more recognized peers. This morning the euro is trading with increases of 0.50% in the 0.9654 greenbacks.
For his part, the Bitcoin it shoots up and recovers the level of 20,000 dollars. At the moment, the cryptocurrency is up 8.12% and is trading at $20,227.6.
mixed tone for asian bags. The Nikkei rose 0.58%, the Shanghai Composite rebounded 0.83% and the SZSE Component added 0.84%. In red, the Hang Seng, which lost 0.48% and the Kospi, with decreases of 0.39%. MSCI’s broader index of Asia-Pacific shares outside of Japan fell 0.29%. China’s industrial profits from January to August fell 2.1% from the same period a year ago, official data showed.
agenda of the day
This Tuesday we will be attentive to the appearances of Jerome Powell, president of the US Federal Reserve (Fed), and Christine Lagarde, his counterpart at the European Central Bank (ECB).
Except for the demand for employment in France and private loans from the euro zone, there will be no significant references in the Old Continent.
In the US, durable goods orders will be released, along with the S&P Case Shiller home price index and consumer confidence from the Conference Board.