Fifth day of increases for the Ibex 35, which adds to the gains of 3% that accumulated during the past week. The selective is close to 10. 000 points after raising 0.22% this session, pushed by the banking sector and Inditex (+ 1.32%).
- 11.550,900
- -1,06%
Siemens Gamesa was the most bullish on Monday with a rise of 2.29% after announcing that it will supply 92 wind turbines to ten wind farms in Spain, reinforcing its position in the Spanish market, where it is already the first manufacturer with close of 55% of the total fleet installed.
They have also highlighted the gains of IAG, which has risen by 1.61% pushed by the strikes of the 'low cost', which favor the air conglomerate during the holiday season. In addition, the group has shown an increase of 8% in its passenger numbers. ArcelorMittal (+ 1.67%) was the third most bullish value.
The banking sector has been another of the big impulses for the Ibex in this session. Sabadell (+ 1.84%), Bankia (+ 1.37%) and Santander (+ 0.9%) were the most bullish banks. Also the good behavior of Inditex (+ 1.32%) has encouraged the selective.
On the other hand, Mediaset España has plunged 4.75% after Deutsche Bank's experts revised down its target price, giving it a bearish potential of 17%. They have also done so with Atresmedia, which has also fallen by 6.37% in the Continuo, after giving it a 15% bearish potential.
However, the value of the day in the Continuous Market was Duro Felguera, which closed with a 233% rise in the face of rumors of interest in its expansion. Last Friday, the group said that several companies can get 25% of their capital.
EUROPE AND THE UNITED STATES
As for Europe, day also of rises in the major European indexes, especially for the Footsie 100, which remains oblivious to the crisis in Theresa May's government. The British Prime Minister has lost in a matter of hours her Brexit minister, David Davis, and Foreign Minister, Boris Johnson, who have resigned.
The other point of interest for investors is in the trade war between the United States and China. In addition, the market is alert to Donald Trump's tour of Europe. The US president begins a tour on Tuesday in which he will have to balance smoothing things out with Russia without worsening the relationship with his NATO allies and in a climate of commercial tensions with the European Union (EU). On Monday, July 16, he will hold a meeting with Russian President Vladimir Putin.
"The fact that the beginning of the commercial war for the moment is not impacting the market does not mean that it is in price, in any case, the 'real' tariffs are nothing new, the market knew them for more than a month. and for now conditions continue to be favorable for financial growth, allowing markets to rise, "says Jasper Lawler, an expert with the London Capital Group. "The sentiment could continue to resist until we see solid evidence of the impact of these trade tensions on economic data, particularly in China," adds the analyst.
TECHNICAL ANALYSIS
According to the technical analyst of 'Bolsamanía', José María Rodríguez, the daily chart of the Ibex 35 explains the reason why the selective no longer rises with the same intensity as last week. In his opinion, it is something "logical" after some increases close to 3% in the accumulated last week.
"Technically, we should know that from here to 10,100 points there are many resistances that we have above, and some will not be easy to leave behind," says the expert. Specifically, we have the maximum of June (9,985 points) and, above, the 10,010 points (MM200 daily). "And of greater draft we have the 10,100 points, the top of a triangle and the maximum of May in the 10,290 points", adds Rodríguez. Therefore, he warns that there is the possibility of starting a small correction before attempting to attack, "if that is the good side", the resistances.
By values, José María Rodríguez highlights BBVA, which "continues to quote above resistances and, in addition, presents a small figure back on 'double floor'". Telefónica "holds up pretty well despite last week's rally" and, finally, Inditex points out, that "it would be starting to overcome resistance among the big guys" and wants to "leave behind a small formation of continuity of trend in the form of 'flag' ".
