The stock market rises 4% with Wall Street consolidating the rebound

The stock market rises 4% with Wall Street consolidating the rebound

Madrid Stock Exchange (Efe)

Investors have returned from the weekend looking forward to take some more risk for a semi-festive week with the market closed on Friday and Easter Monday. This with the hope of confirming the downward trend in the number of deaths in the countries most affected by the Covid-19 pandemic and attending the extraordinary meeting of the Organization of Petroleum Exporting Countries (OPEC) with others. producers on April 8 and 9 to make production cut decisions to shore up the price of crude.

He IBEX 35, which in the last five sessions yielded just over 2.5%, has risen 3.99% at the close and stood at 6,844 points. He DaxFor its part, it has advanced more than 5%, the Cac 40 Parisian 4% and the Eurostoxx 50 about 4.8%. That after Wall Street also showed its desire to rebound and at the time of the closing in Europe it was moving with gains that exceeded 4%.

“In principle, and if the projections contemplated in the aforementioned models are met and the number of infections and deaths in the regions most affected by the virus continue to moderate, markets are going to celebrate with hikes, being feasible that we attend a reduction of the volatility in them “, assure from Link Securities.

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CotizaliaAs countries around the world continue to fight the coronavirus pandemic, governments, central banks, and businesses try to stay ahead of the economic ravages

But this week’s focus will be on OPEC and its partners. Announcing a extraordinary meeting sped up the barrel between Thursday and Friday before the possibility of the end of the price war waged between Saudi Arabia and Russia. However, the meeting, which was scheduled for Monday, has been delayed in the middle of the week precisely because of the reluctance of these two countries, so the euphoria that caused rebounds of over 30% in two days has been halted and is practically quoted flat with slight corrections that keep the Brent at $ 33 and the Texas at $ 28.

“Furthermore, it should be noted that the macro schedule for the week is pretty light, with most of the data to be published for the month of February, before the health crisis broke out in all its harshness, which is why these figures provide little or nothing to investors more concerned with ‘now’ and of the ‘after’ than the ‘before’ “, conclude from Link Securities.

In the macroeconomic agenda, the eurozone investor confidence it has fallen below the lows of the Lehman Brothers crisis. This is the reading of the investor sentiment indicator for the month of April that the German agency Sentix published on Monday.


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