MARCHA BANCA: Technological falls open an opportunity to buy

Banca mar is optimistic about what will bring 2025 to the markets. The bank presented on Monday its prospects for this year, an event that has coincided with a red -stained stock market session. Banca March has predicted a 9.2% growth in global variable income, and explained that its favorite sectors are technological and health. Precisely the first of these two sectors monopolizes all eyes today: waiting for Open Wall Street, Nasdaq 100 futures are falling 4%. The reason: Depseek’s irruption, a Startup China that can raise a hard battle at the Magnificent seven. Nvidia has become 11% in the premarket; Broadcom, 13%, Super Micro 12%, micron 9%and Qualcomm 3%.

The presentation was made by the Director of Strategy and Advice of the entity, Joan Bonet. Faced with the journalists about the stock market falls on Monday, Bonet explained that the news about Depseek does not modify the background trend and that The descents in the parquet can be a good opportunity to enter this technological sector. “That’s right, that does not mean that you have to buy today, but the technological one is the sector that has the most growth and will be one of the pillars of the increase in productivity for the coming years,” said Bonet , “And beyond the saw teeth that will come, and of a lot From the end, much less, “he added.

The technology will continue to grow, “since we continue in a phase in which to gain computational capacity is essential to continue advancing towards a general artificial intelligence. They estimate that the sector will raise its benefits by 6% this year. What impact it has for European AI and of Wall Street Deepseek: the Chinese alternative ‘low cost’.

With regard to health, Bonet has detailed that they are especially interested in oncological research, biotechnology in particular and other issues that offer “strong growth of benefits”, for example those linked to obesity. “These subsectors are going to help,” he said. BANCA March expects that in 2025 the health sector will raise its benefit by 22%, above its average, which is 7.5%, surpassing the rest of the defensive sectors.

By regions, Banca March clearly indicates the USmarket they have raised in the face of a neutral positioning in Europe. Beyond technology, health and defense, the entity specifically focuses on companies small and medium capitalization of the USwith the argument that these companies “have lagged behind the increases and will now benefit from the domestic impulse of the new administration and a more distributed growth of the benefits.”

The global economy walks towards a soft landing And 3.2% will grow in 2025, Joan Bonet explained, “thanks to the resilience of employment and the thrust of consumption.” Regarding Trump, he considers that he has a margin of limited maneuver, having before himself “a public deficit in 7% of GDP and an inflation of 3%”, which reduce their options.

Inflation will continue to moderate, although with obstacles such as the increase in wages and higher tariffs. Regarding type drops, it will be at two speeds: “The lower Eurozone growth will accelerate the cuts of the European Central Bank.” By 2025, they estimate 100 less basic points, compared to 50 basic points of the Fed.

BANCA MARVA FOR 2025 Real positive profitability in all fixed income segments. Within this asset, they consider that the last movements have allowed correcting the anomaly of a premium for a negative term that has been present for the last two years: “The return of a positive slope eliminates the opportunity cost to invest in the long sections of the Curve and, in addition, makes the duration begin to offer interesting protection against negative surprises in the evolution of the cycle. ” In a soft landing scenario, they maintain greater exposure to credit than to sovereign debt and find the best combination of profitability/risk in the Quality and European Corporate Debt.

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