The Ibex has suffered heavy losses for the second consecutive day. After dropping 1.79% yesterday, the selective fell 0.91% this Friday and has already placed below the 8,900 points (8,856). In the week as a whole, which started above 9,000 integers, it has lost 1.8%.
- 11.473,900
- 0,33%
The rest of European stock exchanges have also closed the session in red and prolong the falls they suffered yesterday, as a result of the uncertainty surrounding the Brexit. On the other side of the Atlantic, the situation is not much better, as Wall Street accumulated falls of 1% yesterday and today is on the same path, due to doubts about the negotiations between the United States and China.
Larry Kudlow, economic adviser to President Donald Trump, yesterday showed his pessimism about the talks. "There is a considerable distance" before we reach a solution, he told Fox Business. US President Donald Trump said later that he will not meet with Xi Jinping before March 1, as scheduled. This could lead to a hike in tariffs on Chinese products that will be increased from 10% to 25% on that date.
In view of all these events, the Asian markets registered their biggest drop in one month this morning.
"The Chinese markets are closed for the Chinese New Year and will reopen on Monday, but Hong Kong merchants are returning to their desks and we are beginning to see volumes increase, the reaction we are seeing responses to the fear of deterioration of economic prospects, as well as growing concern about the fragile trade relationship between the United States and China, "said Jasper Lawler, chief strategist at London Capital Group.
MORE DIA
DIA has announced this Friday a loss of 352m in 2018 against the positive profit of 101.20m in 2017. The company has announced, as part of its Strategic Plan 2018-2023, the dismissal of 2,100 workers in Spain after analyzing their situation and that of its subsidiary. Even so, their shares, totally conditioned by the takeover bid that the company has received this week, have added 0.28%
Net debt amounts to 1,452 million compared to 945 million at the end of 2017. The company explained that this increase of 506 million in debt is due to the 259 million worsening of working capital derived from the reduction of the payment term to suppliers.
"Our estimate is confirmed that the group would close 2018 with losses, although these have been more bulky than we expected (-31 million euros) and more than what the consensus forecast, which estimated a net attributable profit of +62, 5 million euros ", explain the Bankinter analysts.
Within the Ibex, practically all the values have closed in red, with ArcelorMittal (-4.74%) as the most punished, after presenting its results yesterday. It is followed by Grifols, that has yielded 2.93% following a Berenberg report. On the earnings side, only Viscofan (+ 1.86%), Melia Hotels (+ 1.16%), Sabadell (0.23%) and Mapfre (0.17%) were located.
In the commodity market, the barrel of Brent crude, a benchmark in Europe, has rebounded 0.42% at the close of the Spanish market, to $ 61.94. For its part, in the currency market, the euro has been changed to $ 1,1326.
TECHNICAL ANALYSIS
"Although the correction was expected, I must admit that it is being fast, violent, although at the moment it does not change anything." "José María points out. Rodríguez, analyst at Bolsamania.
"We understand that the correction can / should find ground in the area of 8,650 (61.8% retracement) -8,750 points (50%) if we want to leave the door open to the possibility that the next rebound movement brings it closer to the all-important resistance of 9,260 points, "he adds.
"In fact, in the last sessions / weeks we have repeated again and again that to think that the Ibex was facing more than a simple rebound it had to break above the November and December highs: the 9.260 The maximums at the end of January were marked at 9,225 points ", concludes the analyst.
