The Ibex continues to cut positions at the end of a disastrous week

This puts the finishing touch to a disastrous week, especially for Europe, in which the Ibex has falling (waiting for what it does today) no less than 7%. The second wave of coronavirus in the Old Continent and the closures, which in countries like France are already the same as those of March - that is, with citizens at home - have made investors in particular very nervous. It seems that given the tremendous increase in Covid cases in the world, it is a reality that we can all end up locked up at home. This is what economists wanted so much to avoid because it will mean a new economic blow. The uncertainty is maximum, and pessimism, too.

This week has also been marked by the avalanche of results, especially in Spain. The last time we lived a week like this (in the second quarter), the Ibex also suffered. The accumulation of accounts shows the bad evolution of the figures of the companies, and this also puts stress on investors. This Friday, another avalanche. The accounts of BBVA, CaixaBank, Sabadell ... have been published.

At the macro level, today the GDP of Spain, Germany, the Euro Zone ... for the third quarter are published. The consensus forecasts a strong rise compared to the second quarter.

Regarding the technical aspect of the Ibex, the selective ended this Thursday breaking the support of 6,421 points. "The Spanish index seeks to cover the downward gap that was left at 6,230 points, without ruling out a continuation of the falls to the level of 5,814 points, the lowest in March," explains César Nuez, analyst at Bolsamanía responsible for Trader Watch.