stock market

Spanish economy 30th April 2021

The Spanish Stock Market, One Of The Most Undervalued In Europe. It is Trading At A 30% Discount To The MSCI Europe

T.C.| Yesterday, the Spanish stock market closed at a twelve-month high, with the selective Ibex 35 above 8,800 points. The good results of some of the companies that have already presented their first quarter figures (Santander, Repsol, Naturgy, Indra, Viscofan…) pushed the index but did not prevent, as Morgan Stanley analysts explain, “Spain continues to have negative EPS (Earnings Per Share) and DPS (Dividends Per Share) revisions relative to the market… although it continues to trade at a 30% discount to the MSCI Europe”, when “the historical average is 20%, making it one of the most undervalued countries in the region”.

Spanish economy, Uncategorised 12th January 2021

Value Or Growth Companies?

Ofelia Marín- Lozano | For some sectors there has not been a stock market crisis. However, others – banks, telecoms, oil,… – have in nine months gone from trading at 19x PER to trading at less than 5x. If everything returns to ‘normal,’ this does not seem sustainable. As a example, in Spain, for the price of the largest retailer (Inditex), we have the two largest banks (Santander and BBVA), the largest insurance company (Mapfre) or the largest oil company (Repsol).

Brexit through the eyes of two British companies with direct exposure: Getlink and LSE

European economy 15th September 2020

London Stock Exchange vs EU: Refinitiv Battle Reveals Unease Over Power Of Modern Stock Markets

Johannes Petry via The Conversation | Relations between London and Brussels have been better. While Brexit dominates the headlines, another cross-channel development has recently captured the attention of financial institutions. It concerns the the London Stock Exchange’s proposed US$27 billion (£21 billion) acquisition of US financial company Refinitiv, into which the European Commission is carrying out an in-depth anti-trust investigation.

Markets, World economy 18th June 2020

Will The US Risk Rally Endure – And Can Cyclicals Continue To Lead?

Mona Mahajan (Allianz GI) | With equities rallying more than 30% since late March, driven most recently by cyclicals, financial markets were perhaps due for a period of consolidation. New risks could emerge, but we continue to believe in the ongoing economic re-opening story — so cyclical sectors may remain market leaders in the near term. Markets could be supported further as elevated levels of cash are put back to work.

World economy 18th April 2020

The Stock Market Is Not The Economy

Unigestión | Despite macro data coming in significantly below very low consensus expectations, equity markets have rebounded more than 25% off their lows. When stock markets rally on bad news, investors often lose a sense of reality. Currently, overly bearish sentiment, improving virus-related data, some optimism about reopening the economy and backstops from both the Fed and governments seem to be the main drivers of the brisk recovery in financial markets.

World economy 5th March 2020

Will a Struggling Global Economy Survive the Coronavirus?

Atul Singh | The coronavirus outbreak is putting a clearly unsustainable global economy to the test.Coronavirus is China’s Chernobyl. It is finishing what Trump’s trade wars started. Global supply chains will change. Trade will slowdown. The decoupling of China and the US will continue. Even as these tectonic changes unfold, a global recession has become more probable.

Markets 13th February 2020

Euronext Is Considering A Takeover Bid For The Spanish Stock Exchange

Euronext is still studying the financial data of BME (Spanish Stock Exchanges and Markets), which could lead to a possible counteroffer for the Spanish Stock Exchange. This was acknowledged yesterday by Euronext Chief Executive Stéphane Boujnah during the presentation of Euronext’s annual results. The company insists that it has not taken a decision yet.

Markets 10th February 2020

Stock Markets Remain Vulnerable To Short-Term Correction

The People’s Bank of China pumps 1.2tn yuan into the financial system to protect the economy from the coronavirus Global stocks extended their rally last week despite concerns that the coronavirus will slow global growth. Experts at Julius Baer continue to argue that stocks are susceptible to a short-term correction and consider any weakness as an entry opportunity for long-term investors.

Markets 12th June 2019

Profit growth in Europe between 7-9% for 2019

Santander AM | Stock markets maintain strong profits this year. The strength of the profit taking as a result of the new tariff increases to China should not hide their good behavior along the year.

In Europe 28th February 2019

The Excessive Risk Perception In The European Stock Market

Ofelia Marín- Lozano | Interest rates on 10 year sovereign bonds, which are considered “risk free rate”, are at minimum but the European Stock Exchange, the EuroStoxx50 is where it was five year ago, despite the profits have grown by near 60%… Why have they triplicated the risk premium?

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