New day of falls in the European stock markets. The Ibex 35 has dropped 0.36%, far from the lows of the session (9,018), in a day in which the resignations of several ministers of Theresa May have filled the market with doubts. In addition, the uncertainties about Italian budgets and what happens between Donald Trump and Xi Jinping at the end of the month continue to weigh on investors.
- 11.473,900
- 0,33%
In the Ibex 35, companies with interests in the United Kingdom have led the falls this session. IAG has been the most bearish value, with losses of 4.7%, followed by Sabadell, which has dropped 3.07%. ACS has been another of the values that has fallen the most, a 2.34%, after presenting its quarterly results yesterday, despite gaining 14.6% more in the quarter to September.
In green, DIA was the most bullish with increases of 2.67%, although it is still trading at 0.7 euros per share. The rises of Cellnex (+ 1.96%) and Repsol (+ 1.23%) also stood out.
In the Continuous Market, OHL returns to be protagonist after collapsing another 19%, which adds to the losses of 18% of the session on Wednesday. The company presented very negative results at the close of the market, with losses of 1,335 million, and analysts recommend selling their securities.
BREXIT, THE POUND AND OIL
"As expected, the British Prime Minister won the support of her Cabinet for her agreement with Brexit, Theresa May said it was a 'collective' rather than a 'unanimous' decision, suggesting that some ministers were against it." , emphasize the experts of Danske Bank. The latest information suggests that up to 10 members of the Government have shown their reservations to the text, so more resignations could come.
Both the Spanish stock market and the rest of the Old Continent's stocks have been behaving erratic and ill-defined for many days, with more desire to fall than to go up. In this session, the stock markets have turned lower, with the Ibex as the least bearish index although falls of 0.7% for the CAC 40 or 0.6% for the Dax 30. This, after Wall Street it will close with cuts close to 1% in the last session and that in Asia the green numbers have clearly predominated. Also very attentive to the collapse of the pound, which is around 1.5% both against the euro and against the dollar.
Throughout this session, investors have also been pending other issues. Oil continues to be news, which is rising 1% on Thursday after the latest crashes. The drops in crude oil are an element of added pressure for the bags today.
TECHNICAL ANALYSIS
"Now we can say that the bullish gap on Wednesday from a week ago has been filled almost entirely," explains José María Rodríguez, technical analyst of 'Bolsamanía'. The expert adds, however, that "if it does not close, the truth is that the trading bias, despite the side of the last few days, is still more bullish than bearish". Another thing would be, according to the analyst, if it closes, and for this the Ibex should close below 8,989 points. Above, the bearish guideline passes through the 9,400 points, "control zone that will not be easy to overcome", according to Rodríguez.
"In the shortest term it is observed that the Ibex is reacting somewhat better than its European neighbors," adds the expert. From the lows of October, the Ibex accumulates a 5% increase compared to 3% from the Dax 30 and the Euro Stoxx 50.
