The Ibex and the rest of the European stock markets They are trading with notable falls this Tuesday (Ibex: -0.88%, 10,816 points), in another transition day with few references waiting for tomorrow, the day after and Friday the really relevant events arrive and that they could move the market. Within the Spanish selective, the increases in Cellnex, Colonial and Endesa stand out, while The worst have been Indra, Sabadell and Repsol.
TELEFÓNICA BARELY REACTS
Telefónica has barely moved on the stock market after yesterday, after the closing, CriteriaCaixa announced that Its participation in the operator is now 5.007% (from 2.69% previously). With this movement, More than 15% of the capital of 'teleco' is in the hands of Spanish firms, since to the 5.007% of CriteriaCaixa is added another 2.51% owned by CaixaBank, the 3% recently achieved by SEPI in its plan to acquire 10% and 4.86% of BBVA. Total, between the four they hold 15.37%.
Analysts at Banco Sabadell, who advise 'buy' Telefónica, with a valuation of 5 euros per share, consider that the news «is positive»although «of limited impact, to the extent that the CriteriaCaixa's intention to increase its stake, compensating for a potential additional reduction by CaixaBankwhich last March reported that it had shed a 1% stake to 2.51%.»
WAITING FOR KEY REFERENCES
Today's session Tuesday He came back with a pretty empty agenda.waiting for that Tomorrow the US CPI for March will be publishedmain macro data of the week and for which a rebound is expected. It remains to be seen to what extent this affects the market and contributes to the cooling of the prospects for rate cuts starting in the summer. Furthermore, also tomorrow, the minutes of the last meeting of the Federal Reservewhile The European Central Bank (ECB) meets on Thursday.
The end of the week will be marked by the publication of the first results of banks in the US on Friday (JP Morgan, Citigroup and BlackRock). Going back to today, Tuesday, it has been published the ECB bank lending survey for the first quarter of 2024. «This survey provides information on bank credit in the Eurozone and credit conditions, which is an important element for growth prospects«, write Danske Bank analysts. According to it, For the first time since the fourth quarter of 2021, euro zone banks moderately relaxed their criteria for granting loans to households for home acquisition. On the contrary, the criteria for granting consumer credit and other loans to households were tightened. We remember that Yesterday Wall Street closed the first weekly session with practically no movement and with a mixed sign. Investors do not want to make decisions until they know the key references of the week. In Asia, this morning the green numbers dominated. US Treasury Secretary Janet Yellen has ended her trip to China with a warning that Any attempt to strengthen Russia's military capabilities could expose Chinese banks to US sanctions.. Furthermore, the Secretary of the Treasury has said, in an interview on 'CNBC', that does not rule out any measures, including possible tariffs, on China's green energy exports.
«I wouldn't rule anything out at this point. We need to keep all options on the table. We want to work with the Chinese to see if we can find a solution,» she said when asked about the possibility of Washington imposing tariffs. if China doesn't adjust its approach on industrial incentives.
AI, THE MAIN CHALLENGE FOR JP MORGAN
JP Morgan CEO Jamie Dimon has said that artificial intelligence (AI) could be the biggest challenge your bank is dealing with. He compared its potential impact to that of the steam engine and said the technology could «improve practically all jobs». Dimon has dedicated a portion of his more than 50-page annual letter to shareholders to the importance of AI to the Wall Street giant's business and to society in general. «While we do not know the full effect or precise speed at which AI will change our business, or how it will affect society as a whole, we are completely convinced that The consequences will be extraordinary and possibly as transformative as some of the major technological inventions«, he wrote in his letter.
OTHER MARKETS
The euro is exchanged at 1.0855 dollars (-0.02%). Oil is still around $90. Brent is trading at $89.73 (-0.72%) and West Texas is trading at $85.58 (-0.98%). Gold rises to $2,366 (+0.66%) and silver rises to $27.95 (+0.44%). Bitcoin fell to $69,100 and Ethereum fell to $3,540. The yield of the 10-year American bond falls to 4.368%.