Legal notice

Who publishes this site

This website is published by Andra Markets, based in Spain. Contact: andramarkets@gmail.com.

Andra Markets is a non-commercial publication: it has no income, sells nothing and carries no advertising, sponsorship or affiliate links. When it starts any economic activity, such as a paid subscription, this notice will identify the company that runs it, as Article 10 of Spanish Law 34/2002 on information society services and electronic commerce (LSSI) requires.

Andra Markets publishes market research: daily close notes, weekly market reviews, research reports, dashboards, an economic calendar, interactive tools and educational material.

Not investment advice

Everything on this site is general information for educational and informational purposes. It does not take into account the objectives, financial situation or needs of any person, and it is not investment, financial, legal, tax or accounting advice.

Nothing on this site is a personal recommendation, or an offer or solicitation to buy or sell any security, currency, commodity or other financial instrument, or to adopt any investment strategy. Andra Markets does not answer questions about what any individual should buy, sell or hold.

Andra Markets is not authorised or registered as an investment firm, investment adviser or broker by the Spanish CNMV, the UK Financial Conduct Authority, the US Securities and Exchange Commission or any other regulator. Before making an investment decision, consider whether it suits your circumstances and, if you need advice, speak to an authorised adviser.

How to read our research

Each report is dated and states its sources. Reports separate facts (published figures) from interpretation and opinion. Opinions are those of Andra Markets on the date of publication, may change without notice, and Andra Markets has no obligation to update a report after it is published.

Reports are produced with an automated pipeline: the figures are collected from the sources listed on the data sources page, the text is drafted with the help of a language model and every figure in it is checked against the session's verified data before publication. The methodology explains the process.

Illustrations in research reports may be generated with AI tools; each report says so in its methodology. They are artwork, not photographs, and do not depict real events.

Interview Prep model answers, Break into Wall Street and the technical training pages are educational. Lab tools, simulators, backtests and diagrams marked Illustrative are hypothetical and are not a record of any real portfolio.

Conflicts of interest

Andra Markets receives no payment from the companies or issuers it writes about, and publishes no sponsored research. Where Andra Markets or its operator holds a position in an instrument that a report discusses specifically, the report says so. Andra Markets does not trade on a report before it is published.

Past performance and forecasts

Past performance is not a reliable indicator of future results. The value of investments and the income from them can fall as well as rise, and investors may get back less than they invested. Changes in exchange rates can affect the value of investments in other currencies.

Market expectations, forecasts and scenarios on this site are not guarantees of future events or returns.

Data, errors and delays

Market and economic data come from third parties, listed on the data sources page. Figures are not real-time: prices are closing prices or may be delayed, and economic figures are revised after release. Data may be incomplete, late or wrong, a source may fail, and the site may show a source's last good figures, with their date, until the next good read.

Andra Markets checks figures carefully but gives no warranty that any content is accurate, complete or up to date, and the site should not be used for trading decisions. When an error is found it is corrected as the methodology describes.

Intellectual property

The text, reports, charts, tables, tools, design, the Andra Markets name and the horse mark are the property of Andra Markets or are used under licence, and are protected by intellectual property law. © Andra Markets. All rights reserved.

You may read the site, share links to any page and quote short extracts with attribution to Andra Markets and a link to the source. You may not reproduce, republish, sell or redistribute the content, scrape it systematically or use it to train machine learning models without written permission.

Third-party data remain the property of their providers. Company names, tickers and logos belong to their owners and are used only to identify the companies.

Users in the United States

Andra Markets is not registered as an investment adviser with the SEC or any state. Its content is impersonal, general commentary published on a regular schedule for a general audience, and is not tailored to any reader. Nothing on the site is an offer of securities.

Users in the United Kingdom

Andra Markets is not authorised or regulated by the Financial Conduct Authority. Nothing on this site is intended as an invitation or inducement to engage in investment activity, and no content is made available for the purpose of promoting a particular investment.

Users in the European Union

Andra Markets is not an investment firm under MiFID II and is not registered with the CNMV or any other national competent authority. Where a report contains an opinion on a specific issuer or instrument, it is prepared with the disclosures the Market Abuse Regulation (EU) No 596/2014 asks of investment recommendations: who produced it, its date, its sources, the difference between facts and opinions, and any conflicts of interest.

Links to other websites

The site links to third-party websites, such as data publishers and the Andra Markets pages on LinkedIn and TikTok. It embeds no third-party players or feeds. Andra Markets is not responsible for the content or practices of other websites, which are governed by their own terms.

Limitation of liability

To the fullest extent permitted by law, Andra Markets is not liable for any loss or damage arising from the use of, or reliance on, this site or its content, including investment losses. Nothing in this notice limits liability that cannot be limited by law, or any right you have as a consumer.

Changes and governing law

This notice may be updated; the date of the latest version is shown below. It is governed by Spanish law. If you are a consumer, you keep the protection of the mandatory laws of the country where you live and may bring a claim there.