Market Closing Report October 30, 2023 | Self Bank Blog

The European stock market is showing overall positive trends. European indices showed growth, especially worth noting the growth of IBEX 35 index by 1.07%. In the Asia-Pacific region, stock markets showed mixed results with little change, except for the Nikkei 225 (-0.98%), where uncertainty is growing ahead of the Bank of Japan meeting, which may change its extremely loose monetary policy.

In the US, by the close of the European session, the major indices are trading in the green zone. Key events of the session Geopolitical tensions did not hinder the growth of European indices. The week started with a general rise, despite the uncertainty caused by the new phase of the war between Israel and Hamas, s''42 people in one of its mines in this Asian country. On the other hand, the government is considering acquiring up to 5% of Telefónica's shares through SEPI and domestic investors to counter the influx of Saudi capital that has lifted its quotations.

Bond market European government debt yields remain stable. Larger declines in short-term European bond yields, especially Spanish and Italian bonds, have contributed to the curvature of yields. Still high inflation rates (despite stabilizing in October) and the decline in German GDP in Q3 reinforce expectations that the ECB will not raise rates at its December meeting, which would signal the end of the current cycle''7% (with a margin of 21.3%) and net income down 5.7% (-4.1% in the first nine months of the year). The company suffered from lower demand due to the general trend of inventory reduction seen in the meat industry, as well as currency fluctuations and high costs. In addition, energy sales, which amounted to 63 million, fell by 5.2% at an annualized rate in the first nine months due to lower selling prices in the Spanish market and sales restrictions on the electricity grid.

Main macroeconomic indicators of the day

Consumer price index in Spain According to preliminary data from the National Institute of Statistics, in October''Spain's overall inflation rate remained stable at 3.5% annualized. Monthly inflation rose slightly to 0.2% (+0.1 p.p.). In turn, core annual variation (excluding energy and fresh food) fell to 5.2% (down from 5.8% in September).

German consumer price index According to preliminary data from Destatis, Germany's overall inflation rate fell by a significant 0.7 pp to 3.8% annualized rate in October, the lowest level since August 2021. In turn, the core annual variation (excluding energy and food) was 4.3%, down from 4.6% in September.

German GDP for Q3 In Germany, first data showed that GDP contracted by 0.1% quarter-on-quarter (vs.''previous growth of 0.1%). On an annualized basis, GDP contracted 0.3% from Q2 2022. In both cases, the decline in output was smaller than forecast by the analyst consensus.

Consumer confidence in the euro area In October, the European Commission's Economic Sentiment Indicator (ESI) declined in the euro area by 0.1 points to 93.3 points (down from 93.4 points in September), driven by deteriorating industry and retail confidence. Among the main member states, ESI declines were particularly significant in France (-2.9 points) and Italy (-0.9), while Spain saw a significant improvement (+1.2).

Market data tables

This document belonging to SINGULAR BANK, S.A.U. (''Singular Bank''), contains information,'''specific investment objectives, financial situation or risk profile. Singular Bank accepts no responsibility for any costs or losses, direct or indirect, that may arise from the use of this document or its contents. Please do not copy or distribute this information without Singular Bank's prior written consent.