Market's evolution 13 of April to 17 of April 2015
Monday, 20 of April 2015
Turbulent week leading indices closed in the red, motivated by various catalysts.
First, the "Grexit" and the chances of default by the Hellenic country, are back in the foreground. The minister of finance, Yannis Varoufakis said that Greece is running out of cash to meet its creditors and denounced the choking received from its European "partners". Meanwhile, the profitability of its debt soars.
On the other hand, the rumor that the Chinese government is in favor of fund managers pay actions to allow short selling, triggered an avalanche of sales in the futures market to fall more than -5%, which not helpful to other markets.
There was also a press conference ECB President Mario Draghi, wherein said recovery is weak, but is on track. He added that a weak euro, together with the recovery of oil prices help raise inflation. He also ruled that may be forming a bubble in the bond market.
Macroeconomic data were mixed, with negative bias especially in the US and China. On the other hand, oil prices rebounded, helped by production cuts US.
Finally, most indicators are in complicated technical levels, after a few sessions of continuous ups and many investors opted to take profits.
At the corporate level, include the purchase agreement by the Finnish firm Nokia to Alcatel-Lucent, at a rate of about 15,600 million euros.