Anchor Resume from 3 to 10 of February 2017

Anchor Resume from 3 to 10 of February 2017


Last week was determined by the publications of business results, Donald Trump’s statements and the evolution of the Greek crisis.

The alarms pointed out in the recent sessions to Greece after that the IMF did not clarify whether or not it would participate in the rescue plan, referring to the need to make further cuts on the country's debt. In fact, there have been many criticisms and controversy of opinions about the permanence of Greece in the Euro, before which the German Finance Minister (Schaeuble) was against despite although he recommended to realize a relief of the debt.

As for France, we kept our eye set on the evolution of the first round of the election with Le Pen leading after the accusations made against center-right candidate Fillion. While in the United Kingdom, we will be waiting for the House of Lords to approve the activation of Article 50. In the face of this, Scotland insisted on their willingness to hold a referendum and remain within the European Union.

In view of this panorama of instability, the markets closed the week mixed waiting for new catalysts. The IBEX-35 has been the worst-performing benchmark after closing at 9.378, down by -0,83%, while the FTSE-100 rebounded another +0,98% beneffited from the weakness of the pound (closing at 7.258 ). The rest of the selectives ended the session on Friday without significant variations (the DAX-30 around the 11.666 and the STOXX-50 within the 3.270).

From the United States, the President Donald Trump announced as he has become accustoming via Twitter that in the coming weeks he will present a "phenomenal" fiscal plan, a factor that prompted markets after anticipating lower taxes. Likewise, it announced the withdrawal of the current regulations in the financial sector,ç which brought a mess in the European Union before the reluctance to deregulate this market. Against this background, the economic optimism index remained at highs (current level 57,2 vs. expectations of 56,2), as well as the labor market continued to show its strength.

Wall Street stock markets closed in green, posting higher levels after the good corporate results posted (the BPA rebound surpassed expectations with +6,2%). The closures were at 5.734 (+1,20%) on the technology Nasdaq Composite, while the S&P500 advanced a +0,81% closing at 2.316.

From the Asian continent, the sharp rebound in China's exports (+7,9% today vs. the +3,3% expected) acted as a catalyst within the region leading the selective to close with advances of +2% in the 23.574 .

While in Japan, we highlight the improvements in production price levels after announcing a rebound of +0,5% in contrast to the previous decline (-1,20%). The closing in the equity markets was also positive for the NIKKEI-225 after registering a +2,44% and closing around the 19.378.

In the weekly closures of currencies the biggest loser of the week was the Euro. The EUR/USD ended Friday's session at 1,0638 with a drop of -1,33%, while the EUR/GBP pair finished at levels of 0,8507 (-1,45%).

As far as the commodity market is concerned, we identified new advances in the ounce of gold, which closed with advances of +1,16% in the 1,234 USD/Onz., Accumulating a rebound of +7,17% during the current year.

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Market's from 3 to 10 of February 2017