The Ibex has risen 1.19% and is located at 9,356 points, very close to the resistance of 9,410 points. The selective and the rest of Europe have been positive in the whole session, but the profits rose after knowing that a new agreement between the European Union (EU) and the United Kingdom is getting closer and it is likely that a hard Brexit will be avoided by October 31.
- 11.473,900
- 0,33%
Today there were also renewed doubts about that partial trade agreement between the US and China. Apparently, China is now asking for another round of negotiations before signing this pact. Wall Street is also living a good day, with increases that exceed 1% at the close of the market in Europe.
The annual meeting of the IMF has begun, with the publication of the new perspectives of the world economy. For Spain's GDP, it estimates that it will grow by 2.2% in 2019, with which the international organization is more optimistic than the Government of Pedro Sánchez, which has reduced the growth of the economy to 2.1% for this year .
MACRO AND COMPANIES
As for the macro data of the day, the ZEW of the current situation in Germany in October was -25.3 compared to the estimate of -26 and the previous data of -19.9. On the other hand, the ZEW of economic sentiment has been located at -22.8 compared to the expected -27.0 and -22.5 above.
In the business framework, this Tuesday the third quarter results season in the United States has begun. The first to present their accounts have been Citi, JP Morgan, Goldman and Wells Fargo. The first two have beaten analysts' expectations, while the last two have breached them.
Within the selective Ibex, the strong increases in IAG (+ 5.32%) and the banking sector have stood out. All financial entities included in the index have risen more than 2%, except Bankinter, which has seen a 1.78% rebound. In addition, Naturgy (+ 0.5%) has risen moderately after announcing the purchase of 42.09% of Medgaz with Sonatrach.
In the market of raw materials, the barrel of Brent is listed with a 0.2% drop, which leaves it very close to losing 59 dollars. For its part, the euro rises in value 0.12% in the currency market, up to $ 1.1038. In addition, the Spanish risk premium stands at 65 basis points at the close of the market in Europe.
TECHNICAL ANALYSIS
"We already have the Ibex at the gates of the super resistance of the famous 9,410 points. I remind you that it is a weekly bearish hole, which means that to close it, or what is the same to cancel it, we must do it in weekly candles. Although we will not deny that a daily closure would undoubtedly be an important sign of strength, a warning to navigators that this time the movement can be serious, as it seems, "says José María Rodríguez, analyst at Bolsamanía .
"In addition, we have the European banking index, the EURO STOXX Banks shaping a large inverted 'head and shoulders', which if fulfilled would be bet on a strong movement in European banks and especially in our selective, because We already know that the specific weight of this in our index is greater than in others, "he adds.
"Just as we have done worse than our neighbors for a long time, we may now do better with the bank leading the climbs. But we will wait a little longer, because we have not overcome anything yet. And, in addition, for the closure of the weekly sail we still have three sessions ahead full of business results on the other side of the Atlantic, "concludes the expert.
