Global stock markets performed positively and the main indices registered moderate gains, with the exception of the IBEX 35 and the Turkish BIST 100, which lost 0.4% and 3.0% respectively.
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Global stock markets continued with the positive mood and, despite the trade tensions, the main stock indices of China and the U.S. registered solid gains.
European stock markets ended the week on a positive note while the main U.S. indices were mixed, with a slight decrease for the Nasdaq and a small gain for the S&P 500.
Global stock markets performed positively yesterday with modest increases in the S&P 500 and in the main European indices, except for the Portuguese and the French indices that closed with moderate losses.
The ECB announced the phasing out of quantitative easing with net purchases diminishing from 30 to 15 billion euros in the last quarter of the year and ceasing in December.
Stock markets posted strong increases in the U.S. while they were mixed in Europe during the last day of the week.
Risk appetite improved on Tuesday after US inflation surprised to the downside in June. The CPI print was driven by falling energy prioces but also softer core services, particularly shelter, overshadowing Warsh’s hawkish remarks in Congress, where he said he has "no tolerance for persistently elevated inflation". Interest rate expectations for the Fed declined, with markets now pricing a second hike over the next 12 months with a 70% probability.
Market sentiment remained downbeat due to persistent geopolitical tensions in the Middle East and continued weakness in AI-related market segments. In commodities, energy prices lacked clear direction, with Brent edging lower and TTF prices rising. The dollar strengthened modestly against the euro, on expectations of a resilient U.S. economy.
Markets ended the week on a cautious note, driven by a deterioration in investor sentiment towards the Middle East conflict and a selloff in tech stocks. Brent oil prices rose nearly 5% to close above $88 per barrel, and TTF gas surged towards €60 as the U.S. and Iran stepped up attacks across the Gulf.
Investors turned more cautious in yesterday's session. Stocks declined across Europe (at yesterday's EU leaders' videoconference there was no progress on the veto that is paralyzing the EU budget and the NGEU package), while U.S. stocks closed moderately higher amid reports that Congress will resume negotiations on a fiscal stimulus.
Positive news on another COVID-19 vaccine sparked a rally in financial markets at the start of the week. As Moderna reported that its vaccine was 94.5% effective (data from a preliminary analysis of a large late-stage clinical trial), stocks surged across the world, led by sectors sensitive to mobility restrictions, while at-home tech equities declined.
Stock markets posted gains across Europe and the US, while sovereign yields moved in opposite directions as they recorded mild declines in the eurozone and moderate increases in the US.
Stock markets were mixed in yesterday's session, with further gains in the U.S. and small declines in the Euro Area. In fixed-income markets, sovereign yields were stable ahead of the central bank policy meetings later this week.
After the strong correction registered during the first weeks of February, global stock markets closed last week on a positive note with stronger increases in Europe than in the U.S., where they remained relatively stable on Friday.
On Friday, stock markets edged up in the U.S. and were mixed in the euro area (advancing in the periphery and nudging down in the core).
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.
U.S. stock markets registered strong gains during the last day of the week due to economic optimism after the publication of the U.S. jobs report that showed a solid increase in employment, with 313,000 jobs created in February.
In the last session of the week, stock markets rose worldwide and sovereign yields ticked up in the U.S. and declined in the Euro Area.
Yesterday, stock markets rallied around the world while 10-year sovereign yields remained stable in the U.S. and declined in the Euro Area (particularly so in the periphery countries).