_c8b66b5c-6342-46de-bef6-7af9475e6187.jpg%5C%22 "Advice and training at Admirals Spain")
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Stock market and training consultation with Franco Macchiavelli from Admirals Spain, where we talk about market sentiment and have two final sessions left to say goodbye to 2023. So far this year the Ibex 35 has seen an appreciation of more than 20% compared to last year to see what the forecasts for 2024 look like. For Franco Macchiavelli, he sees the USA as better than Europe, where the macroeconomic references are slightly worse than on the other side of the Atlantic. Should the European economy finally enter a recession, it would look for stable sectors that, above all, have pricing power and the ability to adapt to the current environment. In the US, 2024 is an election year, but we believe it can do much better there than in Europe.
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The Ibex 35, one of the best European indices
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As for the Spanish stock market, the Ibex 35 has performed very well this year, but we cannot expect a 20% revaluation every year because it is not profitable. It is also important to take into account that the selective index is one with a high banking and energy weighting. If the Spanish stock market manages to stay above 10,000 points in 2024, it would be perfect. On the value side, listeners are asking us about Nike after recent declines have hit other sporting goods companies like Puma, Adidas and Lululemon. The Admirals Spain expert reminds that this is not the first time that they have infected the rest after a profit warning. We call this the “contagion effect.” For Nike it would hold support at $91 and resistance at $130, it is a very lateral value.
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You also ask us about the German company Bayer. From a technical point of view, ground-level slopes are 34-35 euros. If you don’t lose the 30-34 euros, it could be an option. Another stock is the real estate company Bonovia, which has developed very well and is about to break through the 29 euro zone. On the Spanish stock market, Ferrovial has done quite well with acceleration patterns and compliance with the 30 euro zone. If he does not lose 22 euros, his trend will remain bullish. The expert from Microsoft and Tubacex also tells us to get in, he would take into account the 3.7 euros… he already tried to drill it in 2017, 2018 and now we are facing the same level.
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In the first days of 2024, they favor fixed income, after the US 10-year bond lost 4%, and oil.
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