It was an open secret and in the end it was confirmed. The United States and Mexico have reached an agreement this weekend to prevent tariffs on Mexican products coming into effect this Monday, and the exchanges celebrate it. In this context, the Ibex has risen 0.63% and has been very close to 9,300 points (9,294), in line with the rest of European places.
- 11.473,900
- 0,33%
"I am happy to report that the US has reached an agreement with Mexico, the tariffs planned to be implemented by the US on Monday against Mexico are suspended indefinitely," Donald Trump announced through his account on the social network Twitter.
Trump has assured that the Mexican government has agreed to take greater measures to reduce migration. For its part, the United States is committed to accelerating the resolution of asylum applications that, in recent months, have caused shelters on the northern border of Mexico to be overwhelmed.
Both countries have coincide that, if the agreed measures do not have the expected results, they will meet again in 90 days to take new measures.
The optimism of the markets has also been observed in Wall Street, especially in the Nasdaq which adds 1.7% to the closing of the Spanish market. On the other hand, the Asian stock markets already set the good tone when closing with important rises in value. It should be noted that Chinese and US representatives have met this weekend in the framework of the G20 in order to bring together positions for a trade agreement and it seems that these meetings have been constructive.
ARCELORMITTAL AND MEDIASET, THE FACE AND THE CROSS OF THE IBEX
At the business level, ArcelorMittal and Cie Automotive, always sensitive to news about tariffs, have led the selective with rises of 4.53% and 3.44%, respectively. BBVA, with important interests in Mexico, has been another of the outstanding values with a rebound of 2.95%.
On the opposite side of the table Mediaset Spain has been placed as the main protagonist of the day. The National Securities Market Commission (CNMV) has lifted its suspension at 8:30 am and investors have begun to sell, discouraged by the information that caused a rebound last Friday, already with the market closed. The Italian parent company and Mediaset España will be merged and will take their headquarters to the Netherlands, although they will keep the quotation on the Madrid and Milan stock exchanges. The answer has been a fall of 5.35% of the shares of Mediaset Spain.
For its part, in the commodities market, the Brent crude oil barrel, a reference in Europe, lost 0.13% at the close of the Spanish market, to 63.21 dollars. And in the currency market, the euro loses its position against the dollar and it changes to 1.1315 dollars.
TECHNICAL ANALYSIS
"From the minimums of a week ago our selective accumulates a rise close to 4.5%, the 9,300 points are nothing from the point of view of technical analysis, it is just a round and psychological number to approach important resistance levels, such as the weekly bearish hole of 9,410 points, "says José María Rodríguez, analyst at Bolsamanía.
"The ideal thing is to be able to close it (or cancel it) in a weekly period, this is at the closing price on Friday, and if we look at Wall Street, the main index of the world, the S & P 500, is trading at only 2 % of annual and historical maximums, "he adds.
"In any case, if as it seems the drop to 8,900 points is the adjustment / proportional correction of the previous rises, we can bet because sooner than later we will attack the annual highs (9,580) with a high probability of overcoming them", concludes the analyst .
