The Ibex 35 has risen 0.74% to 6,443.30 points, after an intraday high of 6,769 points. This, after a week marked by the great actions of central banks and governments against the coronavirus, in which the Spanish selective has fallen 2.82%. For the following week, there is expected to be more fiscal movements by different countries. Here in Spain it has already happened this week, with an announcement from the Government for the mobilization of 200,000 million euros to stop the virus. But a common and more powerful concerted action is being called for in the euro area to deal forcefully with the situation. While more actions arrive, if something has become clear these days it is that the coronavirus continues to spread, that those affected are increasing and that in Spain the worst has not yet been seen.
- 11.656,600
- 0,39%
Still, some believe the stock markets are beginning to react. In the face of so many measures, so many powerful actions (the last one being the Bank of England, which yesterday lowered rates to 0.1% and announced an asset purchase program), there are those who consider that, economically speaking, this crisis will slow down. There are also those who are hopeful that the peak of those affected by the virus will be seen in April and that things will subside before summer. However the data is not misleading and discouraging.
"It has been weeks since we saw increases of 1% -2% in the US. However, a brief drop in volatility does not necessarily mean that the panic is over. Still, it is an encouraging sign that we may have bottomed. However We need to see further volatility decline and price stabilization before shouting victory, "says Ipek Ozkardeskaya, analyst at Swissquote Bank.
Volatility, however, is once again the protagonist in this particular session thanks to the 'quadruple witch hour', that is, the expiration of stocks and futures on both sides of the Atlantic. "If normally this fact tends to condition the behavior of the spot markets, increasing their volatility, in the situation that the world financial markets are going through at the moment, this effect may be much greater", explain the experts from Link Securities in their report diary.
IBEX 35 TECHNICAL ANALYSIS
"The Ibex closes this Friday clearly far from the highs of the day. I must admit that I expected something more, but the truth is that nothing has changed. Everything remains the same. We continue to be immersed within a clear corrective phase awaiting the starting gun for a more or less sustained rebound that leads us to drain / adjust proportionally the 'crash' of the last four weeks, "says José María Rodríguez, analyst at Bolsamanía.
"What less than a rebound of 15-20% after a strong correction of 43% from the highs of February. All hope passes because the support of 5,800 points is respected at all times. And as the zone of resistance, the most immediate is found at 7,450 points, "concludes this expert.
