Update Grantia Capital 03/10/20

Dear client,

We hope you and all of you are well.

In view of the new closure of Madrid decreed this week, please confirm that we are prepared for any scenario and that all our departments are still 100% operational. Also, we reiterate that we are at your disposal for anything you may need.

Week of slight advances in the stock markets, which closed the month of September with decreases of around 3% in Europe and 5% in the USA. The economic data points to a slowdown in the recovery that we have seen since the end of the lockouts. In addition, health data in Europe remains relatively negative, especially in Spain and the UK, which is reflected in the stock markets. In Europe, year-on-year inflation has been in negative territory, which is not a good sign, especially given the levels of debt. This is not a good sign, especially given the level of debt. The scenario is uncertain in the coming months, which leads us to believe that there will continue to be some volatility in the financial markets.

A week of slight decline in the portfolios, which end September with sharp rises, as we mentioned last week. We have seen a slight devaluation of the dollar after the advances of the previous weeks. In the pound sterling there has been quite a bit of volatility due to the tug-of-war over the Brexit negotiations. As we told you last week, we hope that an agreement will finally be reached. We continue to close profits thanks to the volatility of the market. There are still very good opportunities, which makes us positive about the return of the portfolios in the coming months.

Greetings.