In this last week of economic results on both sides of the Atlantic, stocks on both sides of the Atlantic close with their prices colored of red in the weekly calculation, taking into account the difficult digestion of avalanche balance sheets. Investors were particularly cautious given the proximity of the US presidential elections, with only three days remaining before the meeting between Kamala Harris and Donald Trump at the polls, which will be followed by the next meeting of the Federal Reserve. But, despite the negative close of October for stock market benchmarks this Thursday, which was the worst month so far this year for the European stock market, November begins in a completely opposite way, with increases of more than 1% of the price. European and American indices, even if at the close of the session in Europe they did not manage to put the weekly balance in positive, with the exception of the Ibex 35. The Spanish selective is the only one of the Old World indices Continent that manages to finish with its price of Over the last five days, the stock market has increased by 0.2% and at 11,843 points, thanks to the increase of 1.4% during the last session.
However, the values of the Spanish stock market are painted two-tone On a weekly level, more than half of companies have seen their prices fall over the past five days. The banking sector is once again at the forefront of the Spanish stock market thanks to the spectacular results of CaixaBank and BBVA.which increased the price of the national reference. Among the 10 most optimistic, five are banks: Unicaja which increases by almost 10%, CaixaBank by 6%, while BBVA, Bankinter and Sabadell record an increase of 3%.
Earnings season has been difficult to digest on the Old and New Continents, but this week the disappointments of technology companies took center stage. direction on Wall Street and sent the Nasdaq 100 lower, ending the rally that Tesla started last week, and contagion towards Europe. It was a big week for business data, as five of seven Gorgeous presented their results reports. Although in the middle of the week the disappointment of Microsoft, Meta, added to the fact that AMD did not convince the analysts and the 30% correction of SuperMicro due to the abandonment of EY due to rumors related to irregularities in its accounts, dragged down the two main references.
But, on the last day, investors took advantage of the good figures from Amazon, despite the disappointment of certain data provided by Apple, as well as the surprising drop in job creation in the United States in the month of October, as a stimulus for exposure to the United States. actions, which mitigated the declines accumulated during the week. At the European close, the Nasdaq ended the week in negative territory, with a drop of 1.6%, while the S&P 500 fell 0.6%. In contrast, the Dow Jones industrial average rose 0.5% during this period.
In Europe
In the weekly calculation of variable income on this side of the puddlethe European benchmark, the EuroStoxx 50, is the one which achieves the worst performance, down 1.1%. The decline was mitigated by the latest results from the continent, such as those of BBVA, CaixaBank and Airbus, which encouraged the index after the 3.5% drop accumulated in the last month of the year, its worst monthly decline Since. August 2023. However, it ends the week in negative, around 4,850 points, after losing its key support indicated by Ecotrader analyst and strategist, Joan Cabrero, between 4,900 and 4,870 points.
The expert believes that “his transfer opens the door to a broader consolidation phase”. in line with “the last phase of consolidation before the fall of August”. For the analyst, this would be “good news”, in the event that “this broader consolidation finally forms, which could take the EuroStoxx 50 up to the September minimum zone of 4,730 points”. I would see this as an opportunity to buy the European stock market again“. And while the index “does not lose the September lows of 4,730 points and especially 4,675/4,700 points”, advises maintaining exposure to European stocks.
The rest of Europe ends the week in negative, with the exception of the Spanish stock market and the Italian FTSE Mib which manages to end practically in the tables. For their part, the German Dax and the Cac 40 fell around 0.9%, even if the Paris Stock Exchange continued to drop its annual price, around 2%. While the British index fell by 0.6% over the last five days.
