Transition day on European exchanges pending the official report of the job in usa corresponding to the month of February, which already monopolizes the spotlight of investors. On today’s agenda, the only pending macro data was weekly unemployment in the US. Claims for unemployment benefits rose to 211,000, the highest number since Christmas, compared to the expected 195,000. That gave some breathing room to Wall Street, which is moving with mild gains.

the president of Federal Reserve, Jerome Powell, warned this week of the risk of higher interest rate increases than expected, to the point of fueling a debate that seemed buried, that of increases of 50 basis points. Analysts now seem to favor a rebound of that magnitude in March, rather than the 25 points discounted until a few days ago, as they are forced to constantly revise their ceiling estimates for interest rates upwards.

The resilience reflected by the macro data helps ease fears of the impact rate hikes will have on the economy. the reopening of China has contributed decisively to the improvement of the markets since the beginning of the year, although in recent days macro data has had an impact on the transfer of signs of weakness in the market consumption. If in previous sessions an unexpected drop in imports surprised, today inflation data cooled to the lowest levels in twelve months.

At the spanish stock market, caution ahead of tomorrow’s US jobs data has led investors to temper profit-taking in some of the year’s fastest-rising stocks. The Ibex yielded 0.45%, thus saving the level of 9,400 points.

Banks, key support for the Ibex yesterday and so far this year, lost their bullish momentum today. Concerns about the impact of rising interest rates on the economy triggered a recovery of benefits in a sector that is close to doubling the highs accumulated by the Ibex in 2023. Stocks like Unicaja (-1.74%), banker (-1.40%), CaixaBank (-1.07%) and Santander (-1.32%) lost ground today on the stock market.

The date also affected other values ​​that soared since the beginning of the year, such as Melia (-3.00%) and to companies especially affected by the increase in debt rates and interest, such as Grifols (-2.92%).

The upward revision of the predicted ceiling for interest rates also does not favor real estate companies and pressures increased in a day when news of dividend suspensions reached the European sector. Colonial (-3.54%) and Marline (-3.19%) closed with strong cuts. The Ibex was unable to contain the downward pressure, despite support from a heavyweight like inditex (+0.62%) .

The rest of european stocks closed mostly with cuts, albeit moderate. The French Cac fell 0.12%; the Italian Mib, 0.72% and the British Ftse, 0.63%. The German Dax even managed to avoid the dips and ruled out the session flat (+0.01%).

Corporate benchmarks do not help trigger European stocks to rise again. Swiss credit it earns 1.9% on the stock exchange after delaying the disclosure of its results due to the requirements of the US SEC. The suspension of the dividend plunged the price of German real estate by 10% LEG Immobilien. The result trigger falls into actions of JCDecaux (-14.8%), Domino’s Pizza (-7.8%), Hugo Boss (-1.4%) and Siltronic (-3.3%). On the contrary, the accounts accelerate the taking of positions in revive (+2.2%) and SMA Solar (+8%).

With their eyes set on the official US jobs report tomorrow, investors have not lost sight of one of the most watched levels in recent times, the 4% interest on US debt to ten years. Today’s session granted a mini-truce that lowers profitability to 3.96%. In Europe, debt sales slowed, and provided a break in interest rate hikes. The yield on the German bund is around 2.65% and the Spanish ten-year bond is around 3.65%.

The Fed and macro data accelerated the return of the dollar. Today the euro recovers positions and approaches 1.06% after the weekly data of unemployment in the USA, in the same way that the lb British exceeds $1.19.

The Brent barrel, reference in Europe, rises today to 83 dollars, while the West Texas type is exchanged for 77 dollars.

Dollar cuts allow the price of gold exceed $1,830 an ounce, although still below the $1,850 that has served as the main benchmark in recent weeks. The last few days have acquired a bearish bias in the cryptocurrency market. He bitcoins It drops to $21,000, after confirming the closure of Silvergate and the liquidation of its crypto bank, and a day before facing an avalanche of ‘new’ bitcoins worth $3,000 million.