4/2/2024 8:57 AM
European shares are likely to have a calmer opening
According to futures indications, European stocks will open unchanged after a long weekend on Tuesday morning. Yesterday there was trading only on Wall Street, the SP500 index weakened by -0.2%. Now overseas futures continue to lose slightly -0.1%. On Monday in the US, strong manufacturing data (ISM) surprised, which stopped falling for the first time in 16 months, ending above the 50 level. Bond prices responded to this by falling, their yield increased by 10 points to 4.30%. Investors now have more doubts about how much rate cuts the Fed will “deliver” this year. That’s why Fed chief Powell’s speech tomorrow will be interesting. Overnight in Asia, shares in Hong Kong shone, especially Xiaomi (+15%), which presented its EV car. In the commodities market, crude ($84) is trading at 5-month highs. Gold is steady after rising to new highs ($2,253). The Prague Stock Exchange closed last week at 1515 points (+0.14%) of the PX index. ČEZ, after opening at CZK 850, ended up weaker at CZK 837 (-2%). From a very short-term point of view, the title is now between CZK 850 and CZK 830. Erste rose above CZK 1,040 (+1.17%), Komerční banka was also stronger (+0.9%). Sentiment on the banks will probably persist today, CEZ could try to return higher.
Pavel Hadroušek, broker, Fio banka, as
