Small rises on the Ibex after the Fed's promise to maintain its stimulus

At a business level, Bolsamanía publishes that BBVA clients will have to be more closely linked with the entity if they do not want to pay a commission that reaches up to 100 euros per year.

On the other hand, Acerinox, Applus and Talgo are the most attractive Spanish midcaps for JPMorgan.

In addition, Sabadell will appoint new CEO César González-Bueno, formerly of ING, to replace Jaime Guardiola, after the failed merger with BBVA. And Josep Oliu will abandon his executive functions in the presidency when Guardiola leaves.

And Repsol has strengthened the position of Luis Cabra as second to Josu Jon Imaz, by appointing him General Director of Technological Development, Resources and Sustainability, General Director of Energy Transition, Sustainability and Technology, as, assistant to the CEO.

POWELL CALL

All this after the new call by Jerome Powell, president of the Fed, for the US Congress to approve a new fiscal and economic stimulus plan against the pandemic.

Republicans and Democrats have been negotiating this new aid package for several months, but the presidential elections and the subsequent result have prevented an agreement between the two parties.

The problem for Powell is that the stimuli are "needed now," as he stated very clearly this Thursday after the central bank's monetary policy meeting, which guaranteed monthly purchases of $ 120bn in public debt and mortgage bonds until "the economy progresses substantially." That is, until it is necessary.

"Fiscal aid is already needed because the next few months are going to be the hardest. With the arrival of the vaccine, we hope that the economy will recover very strongly in the second semester and that people will return to work," he explained to make it clear the need for Congress to act in the short term. Also, the country registered a new negative record of 3,700 deaths in a single day; and the latest data (retail sales and PMIs) indicate a slowdown in the recovery.

AGENDA OF THE DAY

On the day's agenda, the Bank of England and the Swiss National Bank hold their monetary policy meetings. In addition, the November CPI in the euro zone and data on the American labor market will be published.

On the other hand, negotiations continue in Brussels to try to reach an agreement with the United Kingdom and avoid a hard Brexit.

And regarding the technical analysis, the Ibex "remains trading above 8,000 points, in what appears to be a lateral consolidation awaiting the appearance of a sign of strength," says César Nuez, an analyst at Bolsamanía. According to this expert, the bullish signal consists of the overcoming of the resistance of 8,322 points, highs of the beginning of December.

In other markets, Brent oil rose 1.1% to $ 51.64, while the euro rose in value 0.22% and trades at $ 1.2224. In addition, the ounce of gold rose 0.8% to $ 1,873. Finally, the profitability of the Spanish 10-year bond is trading at + 0.03%, after setting negative historical lows at -0.02%.