Financial Diary – Santiago
Global stocks were approaching their best month on Thursday since Covid vaccine advances in late 2020, while Europe digested another far-right electoral shake-up and oil fell after Opec+ postponed its weekend meeting.
Traders made their moves before the expected reduction in volumes due to the celebration andt was Thanksgiving Thursday in the United States, but there was plenty to occupy them while they did it.
Slightly better-than-expected inflation data from Germany and France boosted the euro and German bond yields, while the Swedish krona fell after its central bank left interest rates on hold. and the shares of Dutch banks fell after the electoral victory of the far-right populist Geert Wilders, contrary to the European Union.
Germany’s PMI surpassed expectations, but “it was not enough to say that we have turned the corner in the economy”said Robert Alster of Close Brothers Asset Management, adding that activity had still contracted.
“The Netherlands is a real surprise as a victory for the right, but I suspect the market will wait to see what happens in terms of a coalition,” he added.
Operators will be waiting from the minutes of the last meeting of the European Central Bank. In Asia, the focus was on China, where there were more signs of support for the property market.
MSCI’s broadest index of Asia-Pacific shares excluding Japan closed stable on a slow day also due to a Japanese holiday, although Chinese real estate valuess CSI000952 rose 3% after it was learned that Country Garden, with a large debt, will be on the list of developers who would receive aid.
Wall Street’s benchmark S&P 500 .SPX nears new high for 2023and accumulates a rise of more than 8% this month alone, like the MSCI measure of global stocks that achieves its best result since November 2020, when the markets received a strong boost thanks to the hopes placed in the vaccine against the covid.
2023-11-23 12:47:30
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