The optimism reigns in the variable income market. The european stock exchanges seeking their third session bullish consecutive this week with the endorsement of the eindexes PMI of the services sectorthat this Wednesday shed readings more aggressive than expected. The Ibex 35 gets run and with advances close to the 1% peeps already at the elevation of 7,500 points, unusual in the last two months.
The social revolts in the USA go to a very high level, secondary despite the negative effect they are having on the desescalada of confinement in the first world economy. Investors prefer to pay attention to the gradual recovery in China and Europe showing rates of activity of the tertiary sector in may.
In this sense, the Composite PMI China climbs to 54,5 points from 47.6 the previous month, so that it is situated for the first time in ground expansive (above 50 points) since the outbreak of the epidemic in January. The same thing happens with the sector of services, which range from the 44,4 whole of the last month down to 55 points this may. Readings of Germany (32,6 points), France (Eur 31.1), Italy (28,9) and Spain (from 7.1 to 27.9 points) also pleasantly surprised to economists.
With this backdrop, re-assault the positions most bullish of the Ibex 35 several of the values that had suffered in the last few weeks. Banco Sabadell adds a 6% and recovered the 0.3 euros per share. IAGCie Automotive, Ence and Indra hovering around the 4% progress.
At the other end of the table of revaluations, only a half-dozen values. The most yield are Grifols (1.7%) and Viscofan (-1%). MásMóvil re-bounce to flirt with the dimension of 23 euros per share, above the price that the funds KKR and Cinven have put on the table to take control of it.
Many eyes turn this Wednesday into the oil, because tomorrow we will be celebrating a key meeting between the Organization of the Petroleum Exporting Countries and its allies (OPEC+that is expected to be born a new agreement to cut pumping wells. It is the engine of a barrel Brent recovers to $ 40, with increases of more than 1.5%.
In the opposite direction moves the quote gold, but hang in there with solvency 1,700 dollars per ounce. The rise without the brake of the income variable encourages the search for assets of greater risk on the part of investors.
Waiting for the meeting of the governing Council of the European Central Bank (ECB) which will take place this Thursday, the euro is still up in the foreign exchange market. The change against the dollar amounted to 1,12 ‘greenbacks’ this Wednesday.
For the secondary market of fixed income, the differential of the bonds peripherals are still holding the hope that Lagarde confirmed more muscle to your program anticoronavirus. The bonus Spanish income by 0.58 per cent compared to -0,40% of the ‘bund’ German reference, resulting in a risk premium of 98 basis points.