The ibex dives further at its two-year lows

CIE Automotive has been the 'red lantern' of the session with a drop of 4.8%. In the lower part of the table, it has been followed by Indra and by Meliá, which has remained at 4% and 3.4%, respectively. It is necessary to highlight the fall of 2.7% of Repsol, burdened by oil.

On the other hand, DIA has led the increases, thanks to its advances of 10.3%. The supermarket chain has tried to recover the falls on Monday, but has not been able to get it. DIA closed at 0.72 euros, after yesterday it marked a historical low, intraday at 0.62 euros and closing at 0.66 euros.

This Tuesday has also been news, regardless of its rise. One day later in the market, 0.7 euros per share. In addition, Fridman has made moves in the board and has cast three members, to be able to end the situation.

Inditex was the second value with the highest rise in the Ibex, of 1.2%. Energy companies have been the sector that has done better. Iberdrola closed with increases of 0.8%. On the other hand, Bankia was the only bank that closed positive, with a rise of 0.5%.

OTHER MARKETS

The rest of the stocks of the Old Continent have closed with falls. The German DAX 30 has dropped 1.8%; The CAC 40 has fallen 1.53%; and the FTSE 100 in London, 0.9%. Although focus has gone to Italy. The FTSE MIB closed with a fall of 0.86%. The European Commission has finally rejected the budget plan presented by Italy, European tax rules have been respected, and a new book has been reclaimed within a maximum of three weeks, on Tuesday, November 13.

On the other hand, on Wall Street there is a loss of global tension, focused these days on the conflict between the United States and Saudi Arabia after the death of journalist Jamal Khashoggi. The S & P 500 has set new monthly lows at 2,709 points and loses almost 8% from its historic high of 2,940 points, registered on September 21.

Oil dropped over 3% and loses the $80 in the case of Brent, a reference in Europe. Saudi Arabia acknowledged on Monday that it is willing to increase oil production in order to avoid its price up to $ 100 per barrel, as several analysts predict.

TECHNICAL ANALYSIS

José María Rodríguez, technical analyst of Bolsamania, says that "things are still the same in the Ibex 35, do not kid yourself." Finally, the Ibex closes below 8,800 points, although far from the lows of the day. It arrived at this point and it is true that we no longer have to be important in the area of ​​8,500 points, levels of December 2016.

Within the dark situation that is dragging the markets this October "We should focus on the short-term movement of BBVA." This has been supported three times in the last month at 5.01-5.02 euros. One difference from the rest of the banks, including Santander, is that it's the only one that has not scored new results in the last bearish lash of our market. And we already know from experience that BBVA works quite well as an advanced title of the Ibex. "We do not want to say that we have seen the minimums of the fall because we do not have any return figure or exhaustion, but the door is open for that possibility", concludes the analyst.