Ibex 35 and Europe hold steady as Eurozone PMI rises again
The Ibex 35 and the rest of the European stock markets are stable on Tuesday (Ibex: +0.05%, 8.948; Dax: -0.02%; Cac: +0.19%; Ftse MIB: +0.05%) after we learn that The composite PMI for the euro zone for the month of January is back in growth territory. (above 50, to 50.2), although he does so “hesitantly”.. Today there will also be l, since on the other side of the Atlantic Microsoft results are released.
Japan, Manufacturing activity contracted for the third consecutive month, while that of the services sector continues to increase for the fifth consecutive month. The January manufacturing PMI remained at 48.9lower than the forecast of 49.4. Services PMI improved from 51.1 to 52.4. and against the estimate of 51.4.
“While US markets have started to gain ground in recent days, European markets have started to falter. »
Generally, Europe stops after Wall Street’s positive close the previous day (Nasdaq up 2%). and then in Asia, where Chinese stock markets remain closed for the New Year, green numbers prevailed in the majority.
“The good performance of technologies seems to indicate a a growing conviction among investors that the Federal Reserve will soon have to consider cutting rates. before the end of the year”, comments Michael Hewson.
“Given the uncertain economic context, it’s an act of faithIt should also be noted that, while the US markets have started to gain ground in recent days, the US economy is still in the midst of an economic recovery, European markets have started to lose some of their early year momentum. he adds.
For the rest, the President of the European Central Bank (ECB), Christine Lagardeis taking part today in a round table on Croatia’s entry into the euro area. On Monday, Ms. Lagarde reiterated the message that rates must continue to rise. “They will have to increase significantly and at a steady pace.”he said.
Within the Ibex, the following stand out Logista increases by more than 3%. without any concrete news to justify them. IAG, Cellnex and Indra are also doing well.
AND OTHER JOB CUTS
This Tuesday there is talk of new layoffs, although in this case they do not concern the technological sector. Ford plans to cut some 3,200 jobs in Europe. following job cuts in the United States, in order to reduce costs as part of the transition to electric cars.
Most of the jobs concerned are concentrated in Germany.and include functions in product development and administrative areas. Sections would affect approximately 65% of development positions in Europe..
For his part, after learning that Alphabet to carry out the biggest wave of layoffs in 20 years, Sunar PichaiGoogle CEO Sunar Pichai addressed employees and asked them to stay motivated. “I understand that you are worried about the continuation of your work,” Pichai said, as reported by “CNBC”. “I am also very saddened by the loss of some very good colleagues within the company,” he added.
The euro is trading at 1.0888 dollars (+0.18%). The oil is blended, with very moderate movements. Brent is at $88.09 and WTI at $81.65.
Gold is steadily advancing (+0.74%, $1,942), as is silver (+0.94%, $23.77).
Bitcoin is trading above $23,000 (+1.35%, $23,066), and Ethereum at $1,635 (-0.09%).
The yield on the US 10-year bond is 3.502%.