The Ibex opens on the wrong foot the last week of February: it falls 0.48%, to 8,112 points

Regarding business results, one of the main protagonists will be Telefónica, which will present its results on Thursday with the focus on a possible cut in its dividend, together with ACS, Meliá or Ferrovial. Although Wednesday will be another very important day, with the accounts of Iberdrola, Endesa, Indra, Aena. In addition, on Friday they will publish Amadeus, Grifols, Acerinox or Sacyr, among others.

On the other hand, Bolsamanía publishes this Monday that ETF (Exchange Traded Fund) listed funds are altering the price of securities associated with renewable energies, such as Solaria, which has fallen by 5.81% on the Ibex, according to analysts from Bank of America. Among the rest of the selective values, the other most bearish were Acciona (-5.34%) and Pharma Mar (-3.25%), while the biggest increases were for IAG (+ 7.81%) and Aena (+ 4.89%).

In Asia, the stock markets closed with moderate falls, except for Japan, after the Central Bank of China (PBoC) kept interest rates unchanged at 3.85%. In addition, Chinese regulators have increased the demands for online loans. And Wall Street reaps profits, especially in the technology sector.

On an economic level, the German IFO business confidence data for February has exceeded forecasts. In addition, the managing director of the International Monetary Fund, Kristalina Georgieva, has asked the European Union not to withdraw its economic and monetary stimuli. "The gradual withdrawal must follow and not precede success in the health crisis," she said.

In other markets, Brent oil rose 0.8%, to 63.44 dollars, after reaching over 65 dollars in recent sessions. In addition, the euro rises in value 0.17% and trades at 1.2136 dollars.

On the other hand, the profitability of the Spanish 10-year bond rebounded strongly to 0.36%, while bitcoin fell 5%, to $ 54,850; and the ounce of gold rebounded 1%, to 1,795 dollars.

On the American public debt, the yield of the 10-year bond continues to rise and is already trading at 1.36%, which indicates that the market anticipates solid economic growth in 2021.

However, there are some nervous analysts, who fear a faster-than-expected pick-up in inflation, which in turn will cause problems for central banks and force them to withdraw monetary stimulus earlier than expected. Although the Fed and the ECB do not consider this as a high risk.

"European markets are trading lower as wariness about rising bond yields and concerns about steep rise in inflation outweigh growing optimism around the vaccine launch program and economic reopening," says Michael Hewson, analyst at CMC Markets.

And regarding technical analysis of the Ibex, "we will only see a sign of strength in the Ibex again with the overcoming of the resistance of 8,260 points, the highest so far in February," says César Nuez, an analyst at Bolsamanía.

Going over this level would push it to the highs at the beginning of the year, at 8,440 points. The selective managed to rise 1.2% last week, after advancing 1.16% on Friday.