The Ibex advances positions this Tuesday (+ 0.3%) supported by Inditex. The textile rebounds with enthusiasm after yesterday's falls and on the eve of the publication of results. In addition, H&M today reported a preliminary profit from June to August of around SEK 2 billion. The banks, for their part, are pressing negatively, with important falls in all of them, and that means that the selective does not rise more eagerly.
- 11.656,600
- 0,39%
Macro data are also protagonists this Tuesday. In China, they show that the recovery remains strong, experts say. The Asian giant's industrial production and retail sales for August exceeded expectations.
Continuing with the macro, this Tuesday the ZEW is published in Germany for September. In addition, the United Kingdom has reported the first increase in the unemployment rate since the economy was closed by Covid.
"Today's high point is the ZEW, which will give a sneak peek of September's PMIs next week. Data suggests that the euro zone recovery has continued into September, but at a slower pace. The ZEW has already shown a stellar rebound in recent months, so a small setback here would not be surprising. The most interesting thing will be if the assessment of the current situation continues to advance, "explain analysts at Danske Bank.
This Tuesday begins the two-day meeting of the Federal Reserve (Fed), whose conclusions will be known tomorrow and which is, without a doubt, the appointment of the week. Michael Hewson, director of analysis at CMC Markets in London, emphasizes that, although the US closed yesterday in the positive, it did so far from its highs of the day and therefore it is likely that Europe will react with little force on Tuesday.
Finally, regarding the technical aspect of the Ibex, the experts at Bolsamanía insist that it is still far from giving any signal to buy. "The upper part of the bearish channel at this moment passes through the 7,280-7,300 points area. And as support we have the August lows (6,788) and the base of the channel, at 6,500-6,550 points. Although, as we have been repeating for many weeks / months, the most important short-term resistance is in the daily bearish gap of 7,664 points ", explains José María Rodríguez, analyst at Bolsamanía. "Only by closing this gap will we have the first sign of strength in a long time. And meanwhile, more of the same, lateral movement within an impeccable medium and long-term downtrend," he adds.
