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Friday, May 27, 2022

The Ibex 35 recovered 8,200, encouraged by the possible rapprochement between the governments of Ukraine and Russia

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Diplomatic efforts to end the war in Ukraine have intensified today, with Ukrainian and Russian negotiators set to talk again after both sides cited progress, including after Russia attacked a base near the Polish border and fighting increased in others. On the other hand, a Russian missile bombardment yesterday reached the International Center for Peacekeeping and Security in Yavoriv (Ukraine), a base located just 25 kilometers from the border with Poland that has previously taken military instructors from NATO, because the death of 35 people and wounding another 134, according to a Ukrainian official reported on Sunday. The Russian Defense Ministry said up to 180 “foreign mercenaries” were killed and a large number of weapons supplied by foreign nations were destroyed. Reuters was unable to independently verify the casualties claimed by both sides.

Investors will also be watching this week for the meetings of the monetary policy committees of the Federal Reserve and the Bank of England (BoE), which will meet in the coming days, and who are expected to give their opinion on the potential impact that the aforementioned conflict and the sanctions imposed on Russia may end up having in the global macroeconomic scenario.

This Monday the IBEX 35 opens with increases of 0.86% and 8,212 points. Within the IBEX 35, the most is for IAG (Iberia), which adds 2.9% on 1.6350 euros, CIE Automotive rises 2.30% on 20 euros and Banco Sabadell rises 1.95% on the 0.7094 euros.

In negative, Solaria yields 0.53% to 20.68 euros, Cellnex leaves 0.48% to 41.75 euros and Repsol subtracts 0.38% to 11.61 euros.

JP Morgan lowers its recommendation for BBVA from “overweight” to “neutral”, and lowers the price target from 7.30 to 6.20 euros. In the first minutes of the session its titles trade with slight increases of 0.08%.

During the JGA, he said last Friday, the president of Mapfre, Antonio Huertas, unveiled the new Strategic Plan 2022-2024. They aspire to an average growth of premiums of between +5% and +6% in the period and an average ROE of between 9% and 10%, developing a full digitalization of all their processes and business models and promoting the countries and businesses that can create “sustainable, differentiating and scalable value”. In addition, they expect to maintain a solvency margin of around 200% (with a tolerance margin of 25 basis points), a payout of over 50% and a debt ratio of between 23% and 25%. The president of Mapfre recognized that the objectives defined in the new Strategic Plan 2022-2024 had been defined before the outbreak of the war in Ukraine, using a reference of world inflation, interest rates, currency exchange rates and economic growth and insurers that “may suffer high volatility” in the current context of great uncertainty. In addition, the shareholders’ meeting gave its approval to the dividend proposal corresponding to the 2021 financial year, which amounts to €0.145/share, which represents a payout of 58.4%, with the payment of a complementary dividend of 8, 5 cents to be paid in the second half of May. Its shares are up 0.96% today.

Santander Consumer Finance It announced the merger by absorption of its subsidiary in France, Santander Consumer Banque, as recorded in the records of the Official Gazette of the Mercantile Registry (Borme).

At Continuous Market the largest increases are for Deoleo (5.10%), Grupo Ezentis (4.63%) and Laboratorios Reig Jofre (3.20%). On the contrary, the biggest falls are for Clínica Baviera (-6.54%), ISE (-4.97%) and Adolfo Domínguez (-3.85%).

The shares of the Spanish company Deoleo continue their upward trend, given the lack of stocks of sunflower oil in Spanish supermarkets due to the war in Ukraine, which will translate into an increase in demand for olive oil.

macro and politics

Russia could stop paying its debts as a result of sanctions unprecedented over its invasion of Ukraine, but that would not trigger a global financial crisis, International Monetary Fund pensions director Kristalina Georgieva said on Sunday. Georgieva told CBS’s “Face the Nation” that sanctions imposed by the United States and other countries were already having a “severe” impact on the Russian economy and would trigger a deep recession this year. The war and sanctions will also have significant spillover effects on neighboring countries that depended on Russia’s energy supply, and have already triggered a wave of refugees compared to that seen in World War II, she said. Russia calls its actions in Ukraine a “special operation.”

The First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, advocated last fournes for “stop the rise in energy prices as soon as possible” to face the “energy blackmail of Putin”. On the other hand, the United States has consolidated itself in February of this year as the main exporter of natural gas to Spain and for the second consecutive month purchases of this raw material from the North American country have exceeded to arrivals from Algeria, which until the end of last year was the main supplier, compared to 8,801 procedures from Algeria.

Eurozone finance ministers are likely to endorse the European Commission’s view that the fiscal policy it must go out of support to pass as neutral in 2023, but it must be ready with more troops if the war in Ukraine makes it necessary.

Iran attacked the city of Erbil in northern Iraq on Sunday.with a dozen ballistic missiles, in an unprecedented assault on the capital of Iraq’s autonomous Kurdish region that appeared to target the United States and its allies.

other markets

is Europe the DAX rises 1.5%, has a score of 13,837.55 points. The FTSE 100 advances and 0.18%, writes down 7,167.12 points, the CAC-40 raises its price by just over half a percentage point, writing down 6,304.54 points. The Eurostoxx 50 rises 1.04%, has lost 3,722.05 points and the FTSE MIB has lost 23,322 points after advancing just over 1.2% at the open.

Oil slipped on hopes of progress in Russia-Ukraine peace talks despite clashes set to result, while bond markets braced for rate hikes in the US and UK this week. week.

Specifically, this Monday Brent Futures They trade with falls of 3.36% and 109.03 dollars, while those of the west texas they fall and 3.57% in the 105.43 dollars in barrel.

financial world hill in red; futures point higher. The DOW JONES Ind Average closed down 0.69% and 32,944.19 points, the S&P 500 fell 1.30% and 4,204.31 points, and the NASDAQ 100 fell 2.18% and 12,843 points, 81 points. Now Dow Jones Futures below and 0.64%, for the S&P 500 they add up to 0.64% and for the Nasdaq 100 the advances are 0.48%.

mixed sign in asia with sharp falls for Chinese stock markets. The Nikkei rises 0.58% and a total of 25,307.85 points. On the other hand, the Shanghai Composite is listed with strong falls, which leaves 2.60% and 3,223.53 points, the SZSE Component falls and 2.69% to 12,110.80 and the Hang Seng is dogs and 4 .52% The Seoul Kospi is also negative, losing 0.59%.

Bitcoin was flat at $39,061.4.

me€1 It is listed with increases of 0.19% in the 1.0930 greenbacks.

agenda of the day

In Germany the wholesale price index for February will be published, in France the trade balance for January will be published and in Spain the retail sales data for the same month.

In addition, the meeting of the Eurogroup will be held.

In the US there will be no relevant macro references. The focus of the week will be on the Fed meeting, which ends on Thursday.

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