Bad economic information, but the Stock Exchange rises

www.minus19.com

04-11-2008 | Javier Gomez

We do not recover of the frights. Rare it is the day that does not go out any macroeconomic fact and not so macro, that it leaves us well to the egg whites that we are at the edge of the recession. And yesterday it was not going to be less. Of the hand of the USA we knew that there the manufacturing ISM was located in 38,9, much underneath from what he was expecting for the market, or that the expense in construction was falling down 0,3 % … In calculation, which little by little the production rhythm is braking and which the activity contracts.

Also, so that also we should realize well that this crisis also begins already to affect to the emergent countries, the European Commission reports of the more and more damaged situation in the region, and as a result … the oil goes down again before the forecast that from these countries will be demanded less (and especially from China, the big giant who lately was devouring the oil as who has chocolate for breakfast with fritters during a cold morning). So much it is like that, that the principal refinera of the Asian country announced that it would cut the production away before the demand scarcity. And in the end, Brent's barrel was located in 62,10 € with a new fall of 4,88 %. Accompanying it, the euro, which was descending again in his change against the dollar up to the 1,27.

And in the Stock Exchanges? Since in the parquets it was looking for another side. It seems as if suddenly the fears had passed and it will be thought that the falls had come too much background. That the situation was not so serious as was appearing, and that after all there is will on the part of the Governments to save the crisis …

The case is that the Ibex raised a 1,27 %, resting on Phone companhy and BBVA (with increases over a 1 %) and in Iberdrola (+3,4 %). On contrary, Santander was falling down loudly after be known that his principal competitors in Brazil were joining to fight against him.

In Europe the FTS100 of the United Kingdom it was raising also a 1,5 %. The DAX of Germany was making a 1,2 % 0,8 % and the CAC of France.

Very much I am afraid that more than one small investor who begins entrusting himself will remain again caught when the speculators who now make raise the Stock Exchange leave again and gather benefits …

And the fact is that it is not necessary to forget that although the Stock Exchange anticipates in several months the situations economic, we still have left ahead a good stretch of ups and downs and frights for happening. What does not remove that, of course, there are very good prices for certain long-term values.

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