What awaits the Spanish stock market given two four-day weeks?

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The Spanish stock market opens this Monday a two-week period with just four business sessions. It will open on the 28th, Maundy Thursday, but neither on Good Friday nor on April 1st, Easter Monday, will it be open according to the calendar established by the Spanish Stock Exchange (BME) for this year.

The BME considers six days as non-business days for market operating purposes in 2024, one more than in 2023.

After last January 1st, New Year’s Day, when the market did not open its doors, it will also remain closed this Good Friday and Easter Monday, which will later be added Monday, May 1st, the working holiday; on Monday, December 25th, Christmas Day, and Tuesday, December 26th.

What awaits the Spanish stock market this week?

Spain’s gross domestic product (GDP), Germany’s retail sales, France and Italy’s inflation data and the US PCE price indicator, the preferred measure of the Federal Reserve (Fed), will set the agenda next week in which the Spanish stock market will remain closed on Good Friday.

The week begins in Spain with the publication of the annual producer price index (IPP) and consumer confidence for February.

On this day, the GRP consumer confidence indicator for April will also be published in Germany, against the background of the deterioration in the economic activity of the leading European power, reflected in the decline in the manufacturing PMI indicator, and a debt auction The duration is in the United Kingdom up to 5 years and in Italy up to 6 months.

On Wednesday 27th, the evolution of consumer confidence in the Eurozone for March will be announced, as well as the advance CPI for March and retail sales in Spain, while in Italy there will be a ten-year debt auction linked to inflation.

Data from Germany

On Thursday 28th, the unemployment data and the indicator on the development of retail sales in Germany and the GDP and business investment in the United Kingdom for the fourth quarter of 2023, the Italian PPI and its trade balance will be published. Community.

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In the US, investors will turn their attention to the release of the University of Michigan Consumer Confidence Index and the PCE Price Indicator, a benchmark for the Fed.

Monday begins with February new home sales, the Dallas Fed’s Mfg business index and the conduct of the three-, six-month and two-year government debt auction.

On Tuesday the 26th, last month’s durable goods orders, Redbook retail sales index, housing price index, Richmond manufacturing and Dallas Fed service sector revenues for March will be announced, in addition to the auction of the 5- Annual Treasury bonds and the American Petroleum Institute (API) weekly report on crude oil reserves.

MBA Mortgage Applications

On Wednesday the 27th, it will be the turn of the MBA mortgage applications index and the IEA crude oil inventory data, and Fed Board of Governors member Christopher Waller will make statements.

The most important thing on Thursday 28th in the US will be the quarterly GDP and the renewal of unemployment benefits, as well as the index of houses for sale and the auction of 4-week debt and 8-week bonds.

On Friday 29, when the Spanish stock market is closed, the most anticipated data of the week will arrive, the price index of personal consumption expenditure (PCE), which has a great influence on the Fed’s decisions.

According to CMC analyst Markets, the headline rate is expected to be around 2.4% and the underlying rate at 2.8%, levels below 3% that seek to approach the Fed’s 2% target.

In the Asia-Pacific region, the week will be highlighted by the absence of macroeconomic data from China.

Meanwhile, in Japan, the monthly coincidence and leading indicators will be released on Monday; on Tuesday the annual core CPI from the Bank of Japan (BoJ); BoJ member Naoki Tamura will appear on Wednesday; Foreign investments in Japanese stocks will be announced on Thursday.

On Friday, Japan will release inflation data, unemployment rates, industrial production, retail sales and housing orders and hold a two-year debt auction.

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