The Ibex and the rest of European stock exchanges have traded this Monday with significant increases (Ibex: + 1.82% and 7,109 points) while investors remain very aware of the evolution of coronavirus cases around the world. New cases in the US continue to decline, while they are increasing in many European countries, particularly in France, Italy and also in Spain.
Within the selective Spanish, the strong increases in Repsol (4.81%), Ackan (3.89%) or ArcelorMittal (3.59%), which have been proclaimed as the most bullish at the beginning of the last week of August. In addition, it highlights Grifols (1.63%). The pharmaceutical company moves forward after the US decision to approve the emergency use of plasma as a treatment for Covid. On the other hand, Cellnex (-0.93%), Meliá (-0.87%), Siemens Gamesa (-0.35%) and MásMóvil (-0.09%) were placed on the negative side.
This Monday, AIReF has updated the GDP growth forecasts for Spain, which it calculates that will grow 15.2% in the third quarter of the year, thus emerging from the technical recession into which it entered the second quarter, when the health crisis caused a historic drop in GDP of 18.5%.
In the rest of Europe, the stock exchanges also ended in green, with increases of 1.71% in London, 2.28% in Paris, 2.36% in Frankfurt and 2.12% in Milan.
After a positive close for the US indices on Friday, Asian stocks have risen this morning. Stock markets have been boosted by news that the Donald Trump administration is trying to privately assure US companies that they can still do business with the WeChat messaging app in China.
On the other hand, according to the 'Financial Times', the US president would be considering speed up an experimental coronavirus vaccine developed in the UK for use in the United States, and I would like it to be ready before the elections.
This week the main focus of attention, apart from the latest second quarter GDP data for the US, Germany and France, it is the annual meeting of the heads of the world's leading central banks, which is celebrated in the town of Jackson Hole, in the United States, on August 27 and 28. "Investors will be looking for clues as to what action the Federal Reserve could take in the event of another serious outbreak in Covid-19 cases as we head into the fall, with the added complication of a presidential election early in the year. November ", explain the analysts of CMC Markets.
While, the Republican Party is focused on its own national convention this week, following last week's Democratic convention. At the same time, the pressure continues to mount on the Speaker of the Democratic House of Representatives, Nancy Pelosi, in order to reach an agreement with the Republicans on a new plan, which will help US states finance the deficits in their budgets caused by the pandemic.
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