Mixed session on European stock markets The Ibex 35 fell 0.2% on Monday, with declines in the banking sector and gains in utilities. The French CAC 40, meanwhile, fell by 0.7%, weighed down by the luxury sector, and the EuroStoxx 50 closed down 0.3%.
Aro Romero Mateu
European indices started the session on a negative note and remained so until the close. The Ibex 35 fell by 0.2%, with declines in the banking sector and gains among utilities. The French CAC 40 fell by 0.7%, weighed down by the luxury sector, and the EuroStoxx 50 closed down 0.3%.
In Asia, the session closed on a positive note on most stock markets. In South Korea, the KOSPI rose by 4.3%, driven by SK Hynix. The Japanese TOPIX rose by 0.3%, in Hong Kong the Hang Seng closed flat and the Chinese CSI 300 closed up 1.6%.
In Spain, we highlight the rise in IAG (6%) after the company announced its intention to repurchase €825 million of its convertible bonds. Furthermore, the utilities and energy sector rose significantly, with gains of over 2%. Acciona (up 4.2%) and Acciona Renovables (up 5%) have risen following news of a potential takeover bid by Acciona for its renewable energy subsidiary. On the downside, Inditex (down 2.6%), Fluidra (down 1.5%) and Aena (down 1.2%) have fallen following Iran’s rejection of a potential peace deal with the United States.
The banking sector closed with falls of around 1%.In Europe, BASF (up 3.5%) led the gains, alongside the utilities and infrastructure sectors; notable rises were seen in Eni (up 3%), Enel (up 2.6%) and AXA (up 2%).
The biggest loser was Flutter Entertainment (down 7.1%), followed by the textiles sector with LVMH (down 4.3%), Adidas (down 3.5%) and Hermès and Kering, all down by more than 3%.
At the close of European trading, the S&P 500 was up 0.3% and the Nasdaq 0.3%
In the United States, we highlight the rise in semiconductor companies, particularly memory chip makers, with Micron rising by more than 5% and Nvidia by 2.7%. Alternative asset manager Apollo Global is reportedly attempting to sell MidCap Financial Investment Corp, its publicly traded private credit fund. Some shares in the pharmaceutical sector surged on Monday, as investors assessed which company might be best prepared to tackle a hantavirus outbreak. At the close of European trading, the S&P 500 rose by 0.3% and the Nasdaq by 0.3%.
A session marked by rises in yields on European government bonds, with the biggest move being the 9bp rise in the UK 10-year bond. The rest of the bonds rose by around 4bp.
The 10-year Bund yield stood at 3.04% after rising 4bp on the day. Meanwhile, the yield on the 10-year Treasury note has risen by 4 basis points to 4.39%.
Slight rises in the price of Brent crude following the breakdown of negotiations between the United States and Iran. The price of Brent crude stands at $103.9 after rising by 2.5%, whilst WTI stands at $97.6.
Gold has risen by 0.3% to $4,731, whilst silver stands at $85.9 after rising by 7%.
The EUR/USD fell by 0.1% during the session and stands at 1.178.
