Today’s holiday on Wall Street gives even more weight to the withdrawal of restrictions by Covid in China. The truce in the markets opens the door to the assault of the Ibex at the level of 9,000 points if it completes its seventh consecutive rise.
The week begins with a peculiarity that usually reduces the activity in the financial markets, the Wall Street holiday. The United States celebrates ‘Memorial Day’ today, a holiday that gives rise to a festive bridge that has increased if possible the tension on the supply in the US oil market.
With no references today from the US, the news from Asia becomes more relevant, and among them stands out today a new withdrawal in the restrictions adopted by the Covid in China. Shanghai, two months after decreeing its confinement, will ease the measures to allow a greater resumption of business in one of the main centers of activity in the country. The greater economic optimism recovers 4,000 points in the CSI 300 index in China, and in Japan the wave of purchases has boosted the Nikkei by 2.2%.
Europe tries to give continuity to the rises, and the Spanish stock market has the option of chaining its seventh consecutive rise. This positive streak has propelled the Ibex to its highest for the year, above 8,900 points, and the truce that prevails in the markets as a whole opens the door even to an assault on the 9,000-point barrier.
The rest of the European stock markets take advantage of the truce on Wall Street and the favorable references from Asia to reinforce their comeback. The German Dax has a shot at conquering 14,500 points, and the Italian Mib sees the threshold of 25,000 points.
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