The Ibex and the rest of the European stock exchanges fell this Monday (Ibex: -0.9%. 8,112 points), on the last day of a historic month of November and in which, regardless of what happens today , the Spanish selective has registered a revaluation never seen in a month, of 27%. The experts from Bolsamanía emphasize that the Ibex has done in a month what it usually does in a good year. These increases have allowed the index to lower the gap with the rest of the squares of the Old Continent. Even so, 14% is still left in the year.
- 11.617,900
- -0,80%
American futures come down 0.7%, while European futures fall 0.9% on average. In Asia, the day was marked by setbacks, in a session in which the official manufacturing PMI for November was published, which stood at 52.1, above expectations of 51.5. PMI readings above 50 signify expansion, while those below that level represent contraction. The non-manufacturing PMI for the same month was at 56.4 compared to the estimate of 52.1.
In Spain, the preliminary inflation for November will be known today, while the most relevant appointment on the calendar is that meeting of the Organization of Petroleum Exporting Countries (OPEC) and the rest of the large producers that do not belong to the cartel to decide what to do with the production. Despite the strong rises in oil in November, OPEC + is expected to delay the increase in production until the next quarter.
For the rest, this Monday there is a videoconference of the Eurogroup, in which the issue of the blockade of the European budget and also Brexit will most likely be discussed. Remember that one of the key events for the month of December that is about to begin is the summit of the European Union (EU) on 10 and 11, in which an agreement is sought with the United Kingdom. There is increasing fear that this pact will not be finally reached.
The November CPI in Germany will also be released today, while the president of the European Central Bank (ECB), Christine Lagarde, is scheduled to speak. This week, the euro zone unemployment rate will be released on Wednesday and the US employment report for November on Friday.
It should also be noted that today is Cyber Monday, the day that is used to make purchases online at better prices. As for Black Friday, it is estimated that online sales have increased by 22% compared to last year, to 9,bn dollars, registering the second day with the highest online spending in history in the US, only behind Cyber Monday 2019, according to Adobe Analytics.
Finally, and from a technical point of view, the experts of Bolsamanía emphasize that the Ibex maintains the strength bought and continues with the resistance of 8,375 points in focus. Analysts consulted by Bolsamanía believe that the Spanish index has exhausted its strength to give them a full-fledged Christmas rally, although they do not rule out that this will happen if more positive news (especially related to the vaccine) finally appears during this next month.
