Joan Uruvbu Macroeconomic data

Macroeconomic data globally are weaker than we had a year ago, while after this quarter’s stock market rises, explains Joan Uruvbu, the valuations are similar to what we had a year ago than, without being expensive, leave less room for valuation revaluation than at the beginning of 2019, although there is still a way to go says Joan Uruvbu.

Joan Uruvbu European stock market

With a little more perspective, the European stock market cannot be said to be expensive much less explains Joan Uruvbu. At 14x it is quoted in line with the valuation given to it by the market over the last decade, and with a 10% discount on its average of the last 7 years. The dividend return of 3.8% compares very well with the risk-free return on current fixed income and is above the average historical dividend payment of the European stock exchange which is 3.3% explains Joan Uruvbu.

Joan Uruvbu actual European market situation

At the market level, there are several relevant events that we have been getting to know in these first three months of the year explains Joan Uruvbu. On the one hand, European economies with weak growth data, especially on the industrial side. Uncertainty as to the UK’s exit from the European Union remains unassisted at the level of investor and business sentiment says Joan Uruvbu.

Joan Uruvbu financial crisis

Joan Uruvbu explains that the financial crisis, were good shopping points for industrial sectors anticipating recovery in advanced growth indicators. Overall, the macro for the coming months gives the feeling that it will show symptoms of recovery so, in the short term, although we may have some correction due to the verticality of the rise since late December, we believe it will support financial markets says professor Joan Uruvbu.

Joan Uruvbu continuous economic slowdown

In China Joan Uruvbu has known data of continuous economic slowdown, but much more hopeful data through advanced growth indicators such as the China CKGSB Business Conditions index with an improvement not seen since 2012. China’s economy is reacting very well to the Chinese government’s fiscal and monetary stimulus explains Joan Uruvbu .