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brexit

Markets, World economy 23rd December 2019

The stock market boom could last until 1Q2020

Intermoney | The week that begins will be shorter than usual to be marked by the Christmas holidays. Thus, European stock markets will open only on Monday 23, Tuesday 24 half session and Friday December 27, while Wall Street stock markets will open on Monday 23, Tuesday 24 (half session), Thursday 26 and Friday, December 27. We believe this week could be quite positive for Western markets, as the picture has been clarified enough in the two sources of uncertainty that have been determining in the evolution of the markets, i) the commercial conflict, and ii) Brexit.

Interest rates

Markets 12th December 2019

Who or what is to blame for such low interest rates?

DWS | Although many experts accuse central banks, private sector savings and investment trends are equally important. Eurozone sovereign debt yields have rebounded since the August lows but remain firmly anchored in negative territory. The question is not whether the ECB will raise its interest rates again but how to create an environment in which companies are willing to invest to generate profitability and that part of that profitability returns to the lenders. 

policy rates

Markets, World economy 11th December 2019

Negative rates, negative view

Nicola Mai and Peder Beck-Friis (Pimco) | We believe that negative policy rates could do more harm than good to economies and markets, due to their impact on banks, insurance companies and pension funds, and also a possible adverse effect on consumption. Below, we discuss potential implications for investors.

European equity funds

Markets 10th December 2019

Five consecutive weeks of inflows into European stocks (weekly average of +2.4bn)

Santander Corporate & Investment | Waiting for PMI business confidence indicators to show signs of substantial improvement and in the absence of developments in trade negotiations, interest rates on government bonds have receded slightly, which has again given prominence to defensive companies while cyclicals take a break after the rally that began in September.

Cellnex ends the year succesfully with a new purchase from Orange

Ibex, Markets 6th December 2019

Cellnex Ends The Year Succesfully With A New Purchase, This Time From Orange

Cellnex has reached an agreement with Orange Spain to acquire a portfolio of 1,500 telecommunications sites, which means 11% of the current Cellnex portfolio in Spain, and 4% of the total portfolio of towers and antennas located in urban, suburban and rural areas. The operation involves an overall investment of € 260 M. The acquisition will be financed through available cash.