The Spanish stock market eased a bit at the end of this week’s session as investors exacerbated caution after the US threat of imposing tariffs on steel and aluminum materialized while awaiting an important data on employment.
According to what Sergio Avila reported, Donald Trump excluded Mexico and Canada of tariff plan yesterday, but there is no news on what will happen to Europe.
The European Union is waiting to be excluded of tariffs that the US seeks to impose, but they will go to the World Trade Organization to impose the measures should Washington go ahead with this.
Despite the possible expectations of a trade war, the stocks didn’t care much about the conflict between United States and North Korea and a meeting of the ECB, which gave one further step towards the gradual withdrawal of stimulus.
During the session, investors will be particularly aware of the job creation data in the United States, which expected an increase of 200,000 payroll in February.
In this regard, Ibex-35 gave back initial rises and by the hours it was 0.07% to 9.640,1 points, while the great value European FTSEurofirst 300 index was priced flat.
Among the large Spanish market highlighted the negative reaction to tariffs in the United States. of the iron and steel groups, Acerinox and ArcelorMittal, that left both 1.3 per cent, leading the index falls.
Acerinox, which has facilities in the United States and may therefore be relatively favored by tariffs on imports, had registered a better performance than other companies in the sector in recent days, although the prospect of war in the sector is not encouraging for investors.
The big banks, Santander and BBVA, contributed to the falls with respective declines of 0.36% and 0.04%.
Among the major industries, Iberdrola dropped 0.69%, while Telefónica, Repsol and Inditex limited falls with advances ranging from 0.04% to 0.6%.
Outside the FTSE, Edreams dropped drastically, in this case with a cut of 4%, after that has completed the strategic review commissioned Morgan Stanley without that any investor has presented a satisfactory offer.
United States job market continues with its unstoppable march with the creation of more than 300 thousand jobs, accumulating so far more than 500 thousand year.
Also, the unemployment rate stays low, while the evolution of wages is slowing down, a story that has unleashed a wave of shopping in the major exchanges.
The US economy generated in the second month of the year a total of 313 thousand new jobs outside the agricultural sector, against the 200 thousand jobs in the previous month.