The Ibex yields 0.13% and breaks a six-session bullish streak

Today investors have been very aware of everything that has to do with the US and China. Donald Trump continues to insist on the importance of the planned meeting with Xi Jinping at the end of the month in the framework of the G20. He warned new tariffs await China if the meeting is cancelled or goes badly.

In the midst of all this, traders remain concerned about the economic slowdown, which is leading central banks to change the direction of their monetary policies and which could lead to the dreaded recession. "Yesterday there was more evidence that economic activity continues to slow down The latest trade data from China showed that domestic demand remains weak, while in the UK the latest industrial production data for April showed a strong slowdown in economic activity" , explains Michael Hewson, director of analysis at CMC Markets in London.

MEDIASET, TUBOS REUNIDOS AND MORE ...

Investors have once again looked towards Mediaset Spain as today it listed with a slight fall of 0.03% after the heavy cuts yesterday. The Bolsamanía experts point out, however, that the 5.35% declines of yesterday have no technical implications.

In addition, the movements of the securities most sensitive to any news on tariffs have also been followed, such as ArcelorMittal, which has risen again with a rise of 6.43% or Thyssenkrupp has revalued 4.8% after the Brussels veto to the merger with Tata.

Regarding the smallest securities, Tubos Reunidos has gone up 8.97% after confirming an agreement with the bank to restructure its debt; while Berkeley was up 17.26% after announcing the achievement of three new licenses for exploration in the Salamanto region of Retorillo.

In other corporate news, the acquisition by the pharmaceutical Roche of Spark Therapeutics for 4.3bn dollars has been postponed again due to regulatory obstacles. In addition, in Italy, the Government would be willing to extend again the deadline to rescue the airline company Alitalia after not having obtained the support of investors. Finally, highlight the collapse of the British Ted Baker (-29%) after announcing its second 'profit warning' this year.

TECHNICAL ANALYSIS

"The Ibex has moved this Tuesday in a fairly narrow price range, which is logical if we take into account that since the lows of Monday last week it has increased in value almost 5% with hardly any rest. This is important, as is the weekly bearish gap of 9,410 points but the market is hesitant which in turn is something expected "said José María Rodríguez, an analyst at Bolsamanía.

"We must be vigilant on Wednesday at how Inditex reacts to the results that will be published before the opening, we must not forget that the textile giant is one of the two main engines of our selective, which can bring us closer or further away from the control area of the 9,410 points, "he adds.

"Otherwise, everything is more or less the same, with the banks suffering a hit and not being able to engage two consecutive days of increases," concludes the analyst.