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Markets 23rd April 2014

If only Citi was right and QE came…

MADRID | By The Corner | When Autumn comes, so will QE. At least that’s what economists at Citigroup are predicting. “We believe that the chances of unsterilized large-scale asset purchases (LSAPs) of public and private assets being launched this year have (…) increased to more than 50:50,” they said in a note on Tuesday. How much of a stimulus shot are we talking about? To have any effect it should be of at least 1,000 billion euros ($1,381 billion), they note, which would lift the inflation rate toward the ECB’s “below, but close to 2% target”.  It could always be a decaffeinated step as some market makers are warning, but the truth is many on both sides of the Atlantic are hoping for Mr Draghi to make a move.

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Markets 23rd April 2014

Bankinter results cause mixed feelings; Moody’s points to a sexier Spain

MADRID | By Jaime Santisteban | Bankinter, the Spanish bank with highest credit rating announced results under expectations, according to Santander. Analysts look optimistic on Spanish equities profitability and expect a 15% growth in Ibex 35. Spain walks on a firm and positive trend, points out Moody’s.

 

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Markets 22nd April 2014

Market chatter: well-rested European stocks are back to work

MADRID | By Jaime Santisteban | European markets are happily back from Easter as Wall Street enjoys its highest gains in 6 months. Spanish Ibex 35 keeps last week’s positive mood. Risk premium drops to 155 basis points. Spanish Treasury will sell up to 3 billion euros in 3-month and 9-month bills today.

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Markets 22nd April 2014

AQR fails to address banking woes

MADRID | By J.P. Marín Arrese | The ECB is frantically submitting to scrutiny up to 60% of risk-weighted assets from the 128 biggest banks in Europe. This step stands as its last chance to avoid inheriting former shortcomings and mismatches. When it takes over responsibility for supervision later on this year, it will be blamed for any financial blunder. No wonder it wants to ensure that no nasty surprise lies ahead.

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Markets 21st April 2014

Today’s market chatter in Spain

MADRID | By Jaime Santisteban | As European stock markets remain closed today for Easter Monday, attention is focused on Wall Street. Both Europe and the U.S. face a  week full of corporate results. Today, Hasbro, Halliburton and Netflix report for 1Q.

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Markets 16th April 2014

Today’s market chatter in Spain

MADRID | By Jaime Santisteban | Market makers are highlighting the enhanced capital flux in the Eurozone prompted by the QE prospects while Germany Zew Index displayed a slight drop in the business confidence in April. Besides, analysts agree that China’s economic slowdown and Ukraine are going to determine the market mood.

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Markets 15th April 2014

Market chatter: down the road to a banking union and much more

MADRID | By Jaime Santisteban | In a crucial day for the long-awaited banking union in Europe, market makers also chattered about many other issues, like the Bank of Spain -which has denied it plans to subject Spanish lenders to stress tests this month- achieving less tough criteria for Spanish banks in the upcoming EU stress tests.

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Markets 14th April 2014

Today’s market chatter in Spain

MADRID | By Jaime Santisteban | Two weeks ago we saw American, European and Spanish markets reach all-time maximums. Mostly prompted by the BCE’s QE action prospects and the FED statements on interest rates. However, last week turned out disastrous, and the same facts were interpreted as indicators of a weaker recovery. BANKIA analysts consider Ukraine to be the hottest market driver right now.

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Markets 11th April 2014

Today’s market chatter in Spain

MADRID | By Jaime Santisteban | Business confidence reached an all-time high, encouraging the return of strong productive investment. Moreover, Deoleo complex process resolution, downward market trends and much more…