Banks hold Ibex (-0.1%) above 9,200 points

In Spain, the most relevant business level has been the highs of DIA after completing its capital increase of 605 million euros. Fridman has finally raised its stake to 75% and supermarket chain titles have skyrocketed 39%, up to 0.189 euros.

In addition, the CEO of BME (+ 0.6%), Javier Hernani, has commented that any other purchase offer will have to improve the price and the industrial plan of the one raised by the stock market operator SIX.

THE OECD CUTS FORECASTS

In addition, the OECD has worsened all its forecasts for Spain and has pointed to political uncertainty. The Spanish economy will grow this year at a rate of 2%, four tenths less than in 2018, and will slow down to 1.6% in 2020 and 2021, according to the Organization for Economic Cooperation and Development.

The agency has worsened its prospects for growth, unemployment, debt and deficit for Spain, warning that political uncertainty generates "ambiguity" in the fiscal sphere, according to the latest edition of the report 'Economic Outlook of the OECD'. In this scenario, the profitability of the 10-year Spanish bond rebounds to 0.45% and the risk premium remains at 88 points. In addition, the euro increases in value 0.07%, up to $ 1.1080.

CHINA AND THE US STILL IN FOCUS

What happens between the US and China and, in general, everything that is happening on the other side of the Atlantic, is what most worries investors right now. The 'Brexit affair' has been relegated to the background to focus attention on the commercial war and also on Trump's 'impeachment', which continues to generate news.

Despite the diplomatic tensions of the last few days between the US and China after the approval by the US Senate of a bill that requires the certification of the autonomy of Hong Kong, the main negotiator of China's trade agreement, the first vice Minister Liu He said last night that he is still "cautiously optimistic" when it comes to reaching a 'phase 1' agreement with the US, according to sources who attended a dinner in Beijing. However, the voices that indicate that there will be no agreement until 2020 are becoming louder.

"With few economic developments this Thursday, the market will focus on the prospects of China and the US reaching a 'phase 1' trade agreement in the near future or if it runs the risk of not closing until next year," Danske Bank experts said.

As for the 'impeachment' of Trump, much is being said today about the statements of the US ambassador to the EU, Gordon Sondland, who said he collaborated in pressures on Ukraine under the direction of the president. There was 'quid-pro-quo'. And, according to Sondland, the visit to the White House of the Ukrainian president, Volodymyr Zelensky, was conditioned to open an investigation that could help the president politically.

MINUTES OF THE EDF AND ECB

Also on the other side of the Atlantic, yesterday the content of the minutes of the last meeting of the Federal Reserve (Fed) was known, in which the rates were cut by 25 basis points. According to these, it is unlikely that the agency will make a new interest rate reduction in the coming months.

For its part, the European Central Bank (ECB) believes that fiscal policy should contribute to promoting potential long-term growth and stabilization. However, he believes that economic data raise questions about whether the weakness will continue for longer. This follows from the minutes of its monetary policy meeting at the end of October, published this Thursday.

IBEX TECHNICAL ANALYSIS 35

"The leastimportant thing of the session this Thursday in our selective is if wether close in red or green numbers, in my opinion the important thing is that we close very far from the minimum of the session and that this recovery occurs at the doors of the support that we have at 9,130 ​​points, "says José María Rodríguez, analyst at Bolsamanía.

"The perforation of this reference (last week's lows) would have been a new sign of weakness in our Ibex. Prelude to a new bearish whip that could lead our selective to levels close to 8,850-8,900 points. But no, for the moment it can be said that the support is holding ", adds this expert.

"Although it will not help much to the extent that we do not jump over the important resistance we have in the 9,307 points (bearish hole) -9,327 points (Tuesday's highs). In those 20 points important resistances of very short term come together And while waiting, you can only wait to see where to end up jumping the price to have confirmation of what may be the next trend movement, "concludes Rodriguez.