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Volatility continued to dominate across financial markets in yesterday's session, with the key drivers being mixed earnings reports, the expectation of a tighter monetary policy from the Fed and the ECB, uncertainty surrounding the economic effects of the war in Ukraine and lockdowns in China.

Investors ended the week on a positive note and stocks rose across the board boosted by optimism over trade talks between the U.S. and China.

Investors continued to err on the side of caution at the start of the week, with the focus turning to the risk of a global recession amid expectations of further monetary policy tightening from major central banks and the ongoing deterioration in the COVID pandemic in China.

Risk appetite continued to set the tone on Tuesday, as investors shrug off data showing GDP stalled in China in Q4, mixed results from some US banks during the Q4 earnings season and hawkish messages from some ECB officials.

Investors traded with a risk-on mood on Wednesday. The main drivers were a rally in tech stocks, boosted by the restructuring plans from China’s Alibaba Group, as well as receding fears of contagion from the banking turmoil.

Global stocks strengthened and core sovereign yields advanced on the back of improving sentiment indicators in the U.S. and China's manufacturing sectors.

With no major macro data to trade on, financial markets continued to digest President Trump's first executive orders. Overall, investors were relieved that tariffs were not imposed on the first day, and while Mexico and Canada appear to become the first targets, a more gradual approach towards China and Europe is now expected.

In yesterday's session, global stocks rose for a ninth day, boosted by comments from US President D. Trump, in a virtual participation at Davos, hinting at a potentially softer approach to tariffs on China. He also urged OPEC to lower crude prices and said he will push for interest rate cuts.

Risk-off mode in financial markets during yesterday's session as investors digested the US Administration's announcement on Saturday of 25% tariffs on Canada and Mexico, and 10% on China. Tariffs on Mexico were paused later in the day, adding more uncertainty around US tariffs policy, its duration, and its magnitude.

Sentiment recovered during yesterday’s session, as investors digested the announcement that US tariffs on Mexico and Canada will be delayed for at least one month. Trade war uncertainty, however, concentrated in Asia, as China announced retaliatory tariffs on targeted products coming from the US, to take effect next Monday.

In the last session of the week, stocks rose across the board sparked by news from China.

Financial markets started the week in a quiet mood as investors awaited the beginning of the earnings' season, the ECB meeting and more clues on the trade negotiations between the U.S. and China.

Leve corrección de posiciones en la renta variable tras las subidas de los últimos días.

La agencia de calificación Moody's ha rebajado el rating de China un escalón, desde Aa3 hasta A1, y le ha asignado una perspectiva "estable".

Stocks declined across the board on Friday as downbeat activity figures in the U.S. (nonfarm payroll employment +20,000 in February after +311,000 in January) and China (export growth dropped from 9.1% yoy in January to -20.7% in February) added to the OECD and the ECB's downgraded macroeconomic projections earlier in the week.

Escasos movimientos en los mercados con las principales referencias macroeconómicas de un dato de PIB en China ligeramente por encima de lo esperado, y un dato de inflación en la eurozona según lo previsto.

Global stock markets were mixed as investors gauge the implications of the latest changes in the Trump administration, especially after the declarations of the new White House economic adviser Larry Kudlow that signaled support for a strong dollar and took a tough line on China.

Global stock markets started the week with slight gains, after the Chinese President Xi Jinping sent a positive signal to the market saying he backs globalization and the opening up of China's market.

Trade tensions between U.S. and China increased as the U.S. Administration announced that it will impose tariffs on Chinese goods.