The Ibex rises 0.36% and gets a stronger hold over the 10,100 points

Siemens Gamesa ends the session as the most bullish value, rising 2.38%. It's followed by Colonial, with a rise of 1.86% and Viscofan, which has risen by 1.7%. In contrast, Bankia has been the value that has fallen the most, 0.56%. Also highlighted in red are Mapfre (-0.52%) and Meliá (-0.48%), which publishes its quarterly results tomorrow.

In the main board, Duro Felguera has jumped by 9.76% after announcing last Saturday that its refinancing already has 75% of the backing of its creditors. OHL (+ 1.37%) was also in the Continuum, which has advanced that it will present its results on May 15 and its Business Plan until 2020 on May 16.

Beyond Spain, also highlighted in this session Air France, which has plummeted about 10% after it announced losses of $269m dollars on Friday, while its president, Jean-Marc Janaillac, resigned before the rejection of the unions to their salary increase proposal.

So, the week starts with good prospects but with that feeling that Wall Street is weak and if not just cheered with enthusiasm, it could drag the rest of the world stock markets down with it. At the moment, Europe has been doing it better than the United States for days and it is holding the pressure that comes from there. It will be necessary to see if it continues being this way and, mainly if the good tone in the indices returns after the good close on Friday accross the Atlantic.

OIL

On the other hand, oil has hit 2014 highs. At this time, it is rising more than 1% on Monday, with the Brent barrel at $ 75.98 and West Texas at $ 70.46. According to experts, prices are rising due to concerns about Venezuela's oil exports and the future of the agreement with Iran. As for the latest news about the nuclear deal with Iran, President Hassan Rouhani said that Iran has a plan to counter any move made by US President Donald Trump regarding the 2015 nuclear agreement. Trump has set as the deadline this Saturday, May 12, to change the agreement with Iran or, otherwise, has threatened that the United States could withdraw. Rouhani has declared this weekend that the United States would be "making a mistake" if it chose to abandon the agreement, reports Reuters.

AGENDA

The Q1 results season will continue throughout this week, although many of the large firms have already disclosed their accounts. Notably, Ferrovial will announce its own on Thursday and will do so after having communicated a provision of €236m that will affect them. In the macro area, that same Thursday will take place one of the most important events of the week, the rates meeting of the Bank of England, which could be settled with a very expected rise in rates by the agency. We will have to see what finally happens.

Remember also that the Chinese and American officials closed on Friday the two-days negotiations without reaching an agreement on their trade relations or setting a date for future talks. The US administration has demanded a $200m cut in China's trade surplus, along with advanced technology subsidies and lower tariffs, Reuters reports.

TECHNICAL ANALYSIS

According to the technical analyst of 'Bolsamanía' José María Rodríguez, this is the seventh consecutive session in which the Ibex draws a new growing minimum "and thus does not fall". The index approaches the key resistance of 10,210 points (the weekly bearish hollow of early February). On this, Rodriguez adds that, taking into account the strength that is observed in the rest of Europe, "we can think that at the end of the weekly sail we get to place ourselves above", in fact, it indicates that we are talking about a weekly bearish 'gap' : "Either it closes at the end of the week or it does not close. If it does so during the week it is not worth anything".

The expert adds that both the Ibex and Dax are only 4.5% -5% of annual maximums (in the case of the German index, also historical), while the Euro Stoxx 50 is less than 2 %. Regarding securities, the strong resistance that BBVA presents at 6.85-6.9 euros (before support) stands out, while Telefónica struggles not to perforate the support of 8.25 euros. On Inditex, he points out that it continues to recover "very well" from the strong falls of the past months and rises more than 10% in little more than a week; In turn, Repsol has set this historical maximum at 16.24 euros (+1.44%).