Who would have said it, when the 8,000, and even the 7,000, looked far, far away. However, the Ibex and the rest of the stock markets are unstoppable, they ignore the bad news, and they still want to continue advancing, clinging to the macro 'improvement', to the reopening of the economies and to everything that can be interpreted as good news, while ignore the bad. Experts continue to recommend great caution, and some say that this rally does not hold up with current fundamentals. Be that as it may, there is a desire to move forward and today we will have to see if what the European squares have done these days is to discount what the ECB is going to announce this Thursday - and, therefore, they take it easy - or if they still It is traveled to the sound of more stimuli. For now, futures are down 0.15%.
- 11.467,300
- 0,24%
"The highlight of today will be the ECB meeting. We hope that the ECB will expand the endowment of the Emergency Procurement Program for Pandemics (PEPP) by € 500 billion through June 2021 to avoid tightening financial conditions. We will focus on the central bank's comments on the ruling of the German Constitutional Court and on the updated forecasts, which we hope will draw a dire economic picture, "experts at Danske Bank indicate.
This Thursday it is also news that Germany approved, last night, a stimulus package worth 130,000 million euros to support the country's economy to recover from the crisis caused by the coronavirus pandemic, as announced by the Chancellor Angela Merkel. The chancellor has argued that drastic spending is necessary to "give a future to the next generations." The amount approved, covering 2020 and 2021, has exceeded all expectations, as it was speculated that a total of 80,000 million euros would be allocated to this contingency.
All in all, the Ibex starts the session this Thursday at 7,626 points, after cutting the resistance of 7,436 points. "The Spanish selective seeks to extend profits to the level of 8,000 points, prices where the bearish gap found on March 9 is found. If it managed to overcome these prices, it could end up filling the gap to the downside this day. , at 8,375 points. However, for these prices is the average of 200 sessions, the average in which profits could be stopped, "explains César Nuez, analyst at Bolsamanía.
As for other appointments of the day, investors will be alert to weekly unemployment claims in the US. This, after, in the last day, the employment data of the consulting firm ADP were known. Expectations were that 9 million jobs would be lost in May; however, the final figure was 2.76 million jobs, which, while still bad, was a much better figure than expected.
Finally, investors will continue to watch for oil, waiting for that OPEC + meeting, which was speculated, could be brought forward this Thursday, although there is no news about it. Brent reconquered yesterdday the $ 40 per barrel. This Thursday it's falling, but remains stuck at those levels.
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