The Ibex has rebounded 0.43% and stood at 9,239 points after US President Donald Trump eased the pressure on Huawei with a three-month truce. Thus, the selective recovers part of the losses suffered yesterday. The rest of European stocks have also rebounded, in tune with the Spanish market (Cac: + 0.38%, Dax: + 0.88%, Ftse: + 0.15%)
- 11.711,800
- 0,47%
The US Department of Commerce will allow Huawei to purchase US-made products to maintain existing networks and provide software updates to existing mobile phones. In addition, according to 'The Wall Street Journal', citing knowledgeable sources, Google plans to stop the blockade of the Chinese telecommunications giant after it was announced by the US Department of Commerce.
DAY AND THE REST ...
Investors have been watching DIA today, which has risen by 5%, but closed with a decline of 3.96%. At dawn, the company announced the resignation of its board and the appointment of Fridman's men, who have gone on to take effective control of the company. In addition, it seems that Santander has finally yielded and joins the bank's agreement with Fridman to save the company. Within the Continuous Market, the most affected company has been the construction company Grupo San José, which has fallen by 8.56%, burdened by the news regarding Operation Chamartín. The project has been paralyzed again after the PSOE veto in the City of Madrid.
Also, investors continue to look at those values that are more penalized by the commercial war and are seeing how they deteriorate strongly, as ArcelorMittal, which today has rebounded 3.75% and has been the most bullish value after having lost a third of its price in just over a month. On the opposite side, again, Ence has been the most punished company with a 2.71% retracement.
Outside our borders, we must highlight Tesla, who has received a very unfavorable report from Morgan Stanley. The US investment bank considers that its shares are worth $ 10, down $180 from the current price. At the close of the Spanish market, its securities yield 0.95%.
TECHNICAL ANALYSIS
"Despite closing the candle on Tuesday, it does not mean anything, it has no implications whatsoever, and it puts us in the no-man's zone, halfway between the stand of 9,025 points (the minimums of last week) and the important weekly bearish hole of 9,410 points, "says José María Rodríguez, analyst at Bolsamanía.
"In theory, there is room to continue rebounding as long as Wall Street allows us, so we better look at what happens on the other side of the Atlantic to see what happens here, and if we look at the main index of the world, the S & P 500, we have an important support in the 2,800 points, "he points out.
"The drilling of this, would confirm a small figure back in 'head and shoulders' with minimum theoretical target in the approximately 2,650 points, this is 7% below the current levels 2,800 points. We do not rule out that our index tries to climb positions, little by little, trying to approach again the important resistance of 9,410 points ", concludes the analyst.
