The Ibex kicks off the last week of November, regaining 8,000 points (+ 0.78%. 8,041) thanks to the push of Meliá, IAG and Repsol, which this Thursday presents its strategic plan. In the absence of what happens in the next sessions, the Spanish index has increased in value 24% in the month, driven by advances in the vaccine against Covid-19.
- 11.953,200
- 1,36%
Pfizer and BioNTech requested the emergency authorization of their vaccines last Friday. For its part, AstraZeneca announced this Monday that its vaccine has an average effectiveness against the coronavirus of 70%.
The United States has advanced that it could begin to vaccinate as of December 12, while in Spain, the President of the Government, Pedro Sánchez, stated that "a substantial part" of Spaniards will be vaccinated before July 2021. The Government will reveal this Tuesday the details of the vaccination plan in our country, after the Council of Ministers.
Asia has experienced a bullish session (it is a holiday in Tokyo), while Wall Street ended last Friday with falls. It should be remembered that this week the US celebrates Thanksgiving on Thursday, and that on that day all markets, including stocks, futures, options and fixed income, will remain closed. On Friday (Black Friday), the exchanges open only for half a session.
The agenda for this Monday includes the publication of the PMI services and manufacturing for November in Europe and the US. Germany's IFO for November will be released on Tuesday, along with third-quarter GDP there as well. On Wednesday, the most relevant data will be the GDP for the third quarter in the United States, together with the minutes of the last meeting of the Federal Reserve (Fed), while Thursday and Friday will be quieter sessions for that holiday and semi- holiday in the USA.
On the other hand, UK stocks and the pound are likely to perform well after the Brexit news at the weekend. The UK press is running a number of stories pointing out that a deal is near and could be closed early next week. The British pound, in particular, could potentially post some substantial gains this week, if the gist of this news is correct, analysts warn.
Finally, regarding the technical aspect of the Ibex, it continues to fight for those 8,000 points. "The Spanish selective still does not give the slightest sign of weakness and it seems very likely that we could end up seeing a closure, in the next few days, above the 8,000 point level. If nothing goes wrong, it is most likely that we can finish seeing an extension of the gains to the level of 8,375 points ", indicates César Nuez, analyst at Bolsamanía and head of Trader Watch.
