The Ibex retreats by 0.63% and approaches the support of 9,200 points

The trade war has once again been a drag on the market. 'The Wall Street Journal' has published that the trade negotiations between China and the US are in a rut, due to the restrictions imposed on the Chinese technological giant Huawei. Wall Street has also opened today with falls, as has been seen in Asia this morning, where unfavorable macro data has also impacted.

As for the data calendar for this Thursday, there have been no relevant references. "The focus of the market will remain on the results season, amid the reminder of President Trump, who has said that the truce in the US-China trade war could be canceled quickly," the Danske Bank experts say.

FROM NETFLIX TO ACS, VIA MÁSMÓVIL AND EASYJET

Yes, there have been developments in the business front. In Spain, ACS has been the main protagonist yielding 4.17% after the poor results of its Australian subsidiary Cimic, which in turn has plummeted 18%. In negative we also highlight Indra (-4%) and Mediaset (-3.07%).

On the side of earnings, MásMóvil (+ 1.45%) and Grifols (+ 1.19%) stood out, which have gone against the trend of the Ibex after two positive reports from Bank of America Merrill Lynch and Deutsche Bank . Inditex has also risen more than 1%. In addition, Endesa, which had been one of the most punished securities in recent sessions, has risen 1.05% after Fitch announced that it will not lower Spanish electricity companies after the CNMC's actions.

In the Continuous Market, DIA has gone up by 6.42%. The distribution company has fulfilled the conditions precedent of its agreement with the creditors, thus closing the refinancing deal and saving itself from bankruptcy.

On the other side of the Atlantic, the US is already immersed in the results season. It is still talking about Netflix accounts, which lead it to sink more than 11% on Wall Street for having achieved fewer subscribers than expected. In addition, Morgan Stanley has gained 10% less in the second quarter and its shares are up 0.23% at the close of the Spanish market.

TECHNICAL ANALYSIS

"In spite of the strong lurches of the last three sessions and just when it seemed that we could finally attack the resistance of 9,410 points, we have come down and the only good thing today is that despite having scored a minimum in the 9,179 points, we closed above the support of 9,200 points: the upward gap of the first session in July (after the G20 summit), "says José María Rodríguez, analyst at Bolsamanía.

"These holes have been filled, also in the futures of the Cac and the Euro Stoxx 50. Not so in the case of the Dax, which is weaker in recent weeks and already closed this gap some time ago. We believe that up to here the fall enters normal parameters ", adds.

"In the case of our Ibex, we can say it's still in the same situation: 9,200 points below and 9,410 points above. Whatever we reach sooner from those two key points will probably indicate the meaning of the following Short-term trend movement In the last weeks we see a better performance of the Cac, Euro Stoxx and the Italian FTSE Mibtel to the detriment of our Ibex and the Dax ", concludes the analyst.