- Europe falls moderately after the high on Thursday
- The escalation of this trade war threatens to further increase market volatility
The Ibex 35 has fallen moderately this Friday (-0.60%) to stand at 9,682 points. However, in the accumulated of the week the selective Spanish has managed to revalue 0.85% (taking as reference the 9,600.4 points in which closed on Thursday March 29), despite the 'escalating commercial tension’ that has occurred in recent days between the United States and China.
- 11.656,600
- 0,39%
In today's session, the most bullish values were Siemens Gamesa (+ 3.66%), Acciona (+ 1.48%) and the airline conglomerate IAG (+ 0.68%).
On the other hand, the values that have dropped the most in the market this Friday were Técnicas Reunidas (-2.86%), Arcelormittal (-2.26%) and Meliá Hotels (-1.97%).
SANTANDER, BBVA AND CAIXABANK
More specifically, this day we can talk about three companies listed on the Ibex. Three banks, which, together with the rest of the banks, have a great weight in the index.
On the one hand, Banco Santander has fallen sharply (-1.37%). The presided entity of Ana Botín has announced the appointment of two new responsible for payments, user experience and new business. Among them, a former director of the electronic commerce giant Amazon. With this, the Cantabrian bank seeks to "boost" its "digital transformation."
For its part, BBVA has fallen 0.47% this session despite the fact that JP Morgan analysts consider their losses on the stock market "exaggerated" and believe that it is time for a "change of direction" in the bank.
Finally, at the General Shareholders' Meeting of Caixabank (-1.65%) that was held on Friday, the payment of a complementary dividend of 0.08 euros per share was approved on April 13. The vote in favor of 99.9% of the shareholders of the bank of Catalan origin has also received the transfer of its registered office to Valencia, which has already been approved by the company's board of directors six months ago.
OTHER MARKETS
Outside Spain, investors have also chosen to collect profits in the main parks of the Old Continent. Although in these the falls have been lower than those of the Ibex 35, since they have moved between 0.3% and 0.50%.
On the other hand, the strong falls predominated in Wall Street at the close of the Spanish market. The decreases were over 1% in the three main indexes of the New York Stock Exchange.
TRADE WAR
With regard to the US-China trade war, this morning has been the last bid by the president of the US: Donald Trump has announced new tariffs on Chinese products worth 100 billion dollars.
The president of the United States has announced this morning his intention to apply new tariffs worth 100 billion dollars on Chinese products that add to the 50,000 million dollars in tariffs previously reported. This amount is added, in turn, to the response of another 50,000 million dollars in tariffs on US products announced by China. Thus, in this particular negotiation 'a las bravas' between both powers to reach -or not- an agreement regarding their commercial relations, the figure in tariffs already amounts to 200,000 million dollars ... and rising.
It should be noted that White House sources have acknowledged what was an open secret, that China and the United States are holding negotiations to reach an agreement that prevents 'commercial blood' from reaching the river.
"US tariffs on Chinese imports now accumulate 150,000 million dollars, approximately 30% of the total imports coming from the Asian giant.We estimate that if these tariffs are implemented and China retaliates, the cumulative loss of GDP during 2018 -2019 could reach 0.3% in each economy, "warn experts at Oxford Economics.
MACROECONOMIC REFERENCES
As for the rest, the focus this Friday is on the March US employment report. The US economy created 103,000 jobs in March, the most moderate growth since September 2017 (when hurricanes affected economic activity and 33,000 jobs were destroyed).
As for other appointments of the day, it should be noted that this Friday the President of the Federal Reserve (Fed), Jerome Powell, will speak at 19:30 Spanish time.
TECHNICAL ANALYSIS
José María Rodríguez, technical analyst at Bolsamanía, believes that "although this Friday's correction within normal parameters must be recognized that it does not leave a good taste in our mouths".
"In any case and as we said this Thursday we have an important bullish gap, yesterday, which could be filled (at least partially) in the very short term before trying to give continuity to the rebound of the last sessions. support, we find it at approximately 9,560 points "; adds the expert.
"The problem would come if this gap finally closed, in which case it would leave the doors open for the strong increases this Thursday have been, for the umpteenth time, a simple rebound in an impeccable corrective phase that remains intact today" , says Rodríguez.
"In any case, as a summary, we remind you that the key, the key to everything, is at last week's lows, so that as long as the major European indexes (Dax, Euro Stoxx 50 and Cac 40, as well as Wall Street) respect these minimums the possibility that from there, little by little, they restructure upwards in terms of the medium term is a possibility that cannot be ruled out at all. a more than delicate situation, "he concludes.
