July 1, 2022

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Carrying the compass in the caribou on Lagarde's day |  markets

Carrying the compass in the caribou on Lagarde’s day | markets

Waiting for the compass on the stock exchanges on the day of the European Central Bank. Asian stock markets are falling today, US bond yields are rising and the dollar is hitting a two-decade high against the yen as investors await today’s European Central Bank meeting and, above all, the appearance of Christine Lagarde.

European stock markets open slightly lower. Ibex yields 0.1% after closing three days in the tables, about 8900 points. Within caribou, Ferrovial and ACS decreased by more than 2% and are the most downside values ​​for selectivity. Meanwhile, on the profit side, Solaria is the highest gainer, with a 1% rebound.

“We do not expect moves at the ECB meeting, but we do expect it to confirm the work schedule for the coming months, with a gradual normalization of monetary policy to deal with the very high inflation scenario in the Eurozone (8.1% overall and 3.8% baseline vs. 2% target) which does not appear That it is being resolved quickly in light of the Russian crude oil embargo, rising food prices and the fact that companies are converting increased costs into selling prices,” explained experts at Renta 4.

“It’s the most exciting meeting since Christine Lagarde arrived, since Draghi said ‘whatever it takes,'” an analyst told Reuters. Adding to concerns about European inflation, data showed that the eurozone economy grew faster in the first quarter of the previous three months, although From the war in Ukraine.

In Spain today, Ibex will be reviewed as experts predict that Acciona Renovables or Sacyr will replace Almiral or Cie Automotive.

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As investors speculate on the size and speed of the European Central Bank’s tightening, they are also waiting for US CPI data on Friday which the White House said it expects to be “up”. Economists had expected an annual inflation rate of 8.3%, according to a Reuters poll.

Oil prices extended gains, hitting three-month highs on hopes of strong US demand and a recovery in China as Covid-19 restrictions ease. Global benchmark Brent crude is trading at $123.83 a barrel, up 0.2%. US crude rose 0.17 percent to $122.32. Gold weakness, which was sensitive to rising interest rates but seen as a boon to inflation, spot gold lost 0.1%