Caution Taken in Global Stocks, but Europe Heading for Its Best Quarter in Five Years

Although the stock markets of the Old Continent obtained negative results at this time, optimism regarding the rescue fund and the reopening of the economies has given them a boost since March. In Asia, the wheels held data from China. Although international investors continue to look with concern at the evolution of the coronavirus pandemic in America, especially in the United States, a sense of caution is dictating the movements in prices on the last day of the semester, causing mixed results in the different markets. Less than an hour after the market opens, the biggest indicators on Wall Street do not align. While the industrial Dow Jones falls 0.25% at the moment, the S&P 500 rises 0.19% and the Nasdaq compound continues to show the resilience of the technology sector, with an increase of 0.69%. Europe has been swinging between gains and losses during the day, although the continent’s largest stocks are steadily advancing to their best quarter in more than five years. Bloomberg data shows that the German DAX achieves the block’s only advance at this time, rising 0.64%. For its part, the French CAC fell 0.73%, accompanied by declines of 1.15% and 1.36% in the stock markets of the United Kingdom and Spain, respectively. The pan-European EuroStoxx 50, for its part, fell 0.46%. All in all, the EuroStoxx 600 indicator – which groups the 600 largest companies in the euro area – adds an advance of more than 12% in the April-June period, heading to mark its best quarter since the first quarter of 2015. Although Concern about the impact of Covid-19 on global economic dynamics remains the tonic, investors in Europe have been encouraged in recent weeks by the reopening of most of its major economies and hopes that the bloc’s leaders will take out Forward the project of a massive rescue fund, which would give a boost to the weak economic dynamics in the region. In Asia, optimism became more evident, with investors excited after China released manufacturing activity data that exceeded market expectations. Thus, the greatest advances were made in the CSI 300 -which groups the most relevant companies listed in the Shanghai and Shenzhen stock exchanges-, with a rise of 1.32%, and the Japanese Nikkei 225, which rose 1.33% today. In Hong Kong, the Hang Seng benchmark posted a 0.52% rise. Chile is on the side of the optimists. At this time, the Sentiaguine benchmark, the S&P IPSA, records an advance of 0.16%, which has it at 3,997.39 points.