European shares rise on possible US debt deal

European stock markets remained tight-lipped in the session as major indices moved in a narrow price range yesterday, ended the day mixed and without major changes, acting prudently, many investors stayed out of the markets.

This Thursday, however, European stock markets are set to rise, pulled by a wave of optimism running through the market for hopes of an agreement to raise the debt ceiling in the United States and avoid the country’s suspension of payments. Is. hence, dex up 0.34% to 15,951, IBEX 35 up 0.40% to 9,248, the FTSE 100 up 0.39% at 7,753, the CAC 40 up 0.56% at 7,440.83 and ftse mib It rebounds 0.86% at 27,417. At the same time, the Euro STOXX 50 climbed 0.63% to 4,351.45 points.

In the business section, technology companies Accounting for more than 5% of a telecom provider’s maximum average internet traffic should help pay for the rollout of 5G and broadband across Europe, according to a draft proposal by the telecoms industry.

Sovereign Wealth Fund of Qatar, the second largest investor swiss credit, is exploring the possibility of requesting compensation for damages caused by the forced sale of the bank to its rival UBS for at least a fraction of its value. The Qatar Investment Authority is seeking legal advice to see whether it can pursue any claims against the Swiss authorities, including through international arbitration. According to Reuters calculations, he would have lost about $330 million from his stake in Credit Suisse.

The Wall Street Journal reported late Wednesday that Deutsche Bank has agreed to pay $75 million to settle a proposed class action lawsuit, based on information from lawyers suing the bank on behalf of alleged victims. It has been alleged that the bank aided the late Jeffrey Epstein’s sex trafficking ring. According to the court article, a lawsuit was filed last year on behalf of him and other whistleblowers in New York by an anonymous woman who alleged that Deutsche Bank did business with Epstein for five years knowing he was Was involved in sex trafficking activities. Deutsche Bank did not immediately respond to a Reuters request for comment.

spanish pharmacist Was Sells 26% stake to German Lubia.

US fund Millennium Group raised 1.036% stake in Repsol.

Norway’s sovereign wealth fund Norges Bank has again increased its stake in Unicaja Banco up to 4.43%.

other markets

In wall Street The indices of this market closed with significant gains, due to optimism about the possibility of reaching an agreement on the debt ceiling and thus avoiding entry defaultWhich was once again endorsed by both President Biden, who said that talks with Republicans had been productive and believed that America’s “unprecedented default” would be avoided, as well as the Republican leader in the House of Representatives. Also by Representative (House of Congress), McCarthy, who said in an interview with CNBC that he did not believe that the U.S. default, This was also contributed by the strong rebound experienced by highly penalized prices of US regional banks, after learning that Arizona Bank, Western Alliance Bancorp, was the most questioned by investors since the crisis of banking confidence in the US. . experienced a strong increase in its deposits after the end of 1T2023, reversing some of the previous outflows -yesterday the sector rose over 7%-. this Thursday morning, Dow Jones, S&P 500 and Nasdaq futures are down between 0.10 and 0.25%.

Iasia pacific stock index They were on the rise because of Wall Street. He msci index Asia-Pacific stocks were up 0.85%. “Markets have been bullish,” Rodrigo Catril, chief currency strategist at National Australia Bank, said in a note to clients. He Japanese Nikkei It continued to outperform its results, rising 1.6% to hit a 20-month high of 30,667.13 before trading at around 30,575. Any gain above 30,795.78 would take it to its highest level since 1990, when Japan’s economic bubble had not yet burst. He hang seng day hong kong More than 1% advanced. Major shares gained 0.39 per cent.

growth of Japan exports It touched its weakest pace in more than two years in April as shipments to China declined amid continuing concerns about weakening global economic demand.

Oil futures declined in signs of progress in talks to raise the US debt limit, after rising nearly 3% in the previous session on optimism about US fuel demand. He Brent decreased 0.26% to $76.76, while west texas 72.67 per barrel with a cut of 0.22%.

He U.S. Dollar It was hovering near a seven-week high on Thursday as President Joe Biden and Republican lawmaker Kevin McCarthy scrambled to avoid a damaging debt default, while the Australian dollar fell on disappointing jobs data. In the EUR/USD pair, the euro fell 0.10% to 1.0829 greenback. For its part, bitcoin rose by 0.86% to $27,231.4.

In today’s program, Spain’s balance of trade in Europe and the Quarterly Bulletin of the Bank of England will be known. In the US, initial weekly jobless claims will be announced, the April reading of the Leading Indicators Index produced by consulting firm The Conference Board, an index that has for months pointed to the US economy entering a recession; Second-hand home sales, also for the month of April, as well as the Philadelphia Manufacturing Index for May, one of the most closely followed regional activity indices by investors.