The Ibex has saved the day and has closed flat () after leading the rises in the European stock markets, it has risen more than 1%. The escalation of tensions between the United States and China has damaged European markets and they have fallen close to 1%. Donald Trump, President of the United States, has launched a series of accusations against Xi Jinping, President of China. Trump has said Xi is behind a "disinformation and propaganda attack on the United States and Europe."
- 11.435,700
- -0,28%
"It all comes from above," Trump wrote in a series of tweets Wednesday night. Although Donald Trump has often blamed China for failing to prevent the pandemic, he has been careful so far to ensure that his relationship with Xi remains strong.
Within the Spanish market, the very strong increases of over 50% in OHL have stood out, after Villar Mir has sold 16% of the construction company to the Amodios at 1.1 euros per share.
In another order of things, this Thursday talks about the possibility of seeing negative rates in the United Kingdom. Bank of England Governor Andrew Bailey has stated that the agency does not exclude the idea of reducing borrowing costs to below zero to address the economic impact of the coronavirus. Keeping all options on the table "shouldn't come as a surprise," he added, noting that the policy had received "conflicting criticism" elsewhere. The pound falls about 0.1% against the dollar this morning.
The minutes of the April Fed meeting were published last night. The document showed that central bankers are very concerned about the state of the US economy, as well as the prospects. Fears of a second coronavirus wave were mentioned. Central bankers are also concerned about the health of the banking system as defaults and bankruptcies are likely to increase.
Regarding the macro data for this Thursday, the PMIs known today in Europe show that the euro zone economy continued in May, plunged in its deepest slowdown ever recorded due to the follow-up of the measures adopted to control the Covid-19 outbreak. . However, the economic decline begins to show signs of attenuation while the containment measures in some economic sectors are relaxed. The PMI index compiled by the consultancy Markit shows that Total Activity in the euro zone increased from its record low of 13.6 in April to 30.5 in May, the highest since last February.
Also, weekly unemployment claims in the United States have been known. The data has been 2.4 million, which is an improvement from the 2.98 million published in the announcement last week. In addition, the Philadelphia Federal Reserve Index is published.
Finally, Fed President Jerome Powell will speak at an event around 6:30 PM Spanish time.
TECHNICAL ANALYSIS
"The Ibex, despite moving away from the danger zone of 6,420 points (last week's lows), is trading in a no-man's zone. Halfway in round numbers between the support of 6,400 and the resistance of 7,000 points ", explains José María Rodríguez, technical analyst at Bolsamania.
"The truth is that until we get out of there we will have no clue about what may be the next big move in a short-term trend. And be very careful to drill the lows of last week because we would start looking towards the lows of March "clarifies the expert.
