The Ibex and the rest of European squares will start this Monday with increases, extending the optimism of last week. Asia has lived a day of important promotions driven by the news of the weekend of the signing of a trade agreement, as well as the latest macro data. Meanwhile, US futures are appreciating around 1%.
"The signature of a new trade agreement between fifteen Asia-Pacific nationscalled the Regional Comprehensive Economic Association (RCEP), is good news marking the first trade partnership between China, Japan and South Korea, along with the signing of a series of minor agreements between twelve other nations of Asia-Pacific, including Australia, Singapore, Thailand, and Vietnam. It is estimated that bundling these various minor deals into one large deal could significantly reduce trade friction and help give a significant boost to Asia's GDP for years to come"explains Michael Hewson, chief analyst at CMC Markets in London.
Regarding the data in Asia, it should be noted that Japanese GDP has risen 21.4% in the third quarter, above expectations. For its part, the latest economic data from China today were also welcomed by considering further proof that the Chinese economy continues to recover slowly. The latest retail sales figures for October have continued the slow movement back into positive territory that began in August with a 0.5% increase, and was followed in September by a 3.3% increase. Today's October number, 4.3%, although lower than expected, was nevertheless greatly helped by the Golden Week holiday at the beginning of the month "It bodes well for a strong end of the yearas the Singles Day in November is likely to also offer a significant boost when the November numbers are released next month, "they explain from CMC Markets.
This Monday is news in Spain BBVA, because it has announced that leaves the United States with the sale of 100% of its subsidiary there to PNC Financial Service Group. The agreement reached does not include the sale of the group's institutional business developed through its broker dealer BBVA Securities or the participation in Propel Venture Partners US Fund I. The price of the transaction amounts to approximately US $ 11.6 billion (equivalent to approximately 9.7 billion euros). The price will be paid entirely in cash.
The Brexit talks too seem destined to continue beyond this week, with the same fishing lines and a level playing field as the main obstacles to progress. Now it seems likely that the deadline for the talks will be extended further, with a new deadline of December 10. The British Prime Minister, Boris Johnson, a lockdown has started after confirming the positive for coronavirus of a deputy with whom he maintained close contact. Johnson, who already passed the coronavirus in April, does not show symptoms at the moment, but will serve the mandatory ten days of confinement.
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