The Ibex tries to follow the wake of Europe with a slight rise

DIA, has distributed dividend of 0.18 euros per share this Tuesday and has returned to be the worst value of the Ibex with a fall of 2.24% to 2,093 euros. The supermarket chain continues with its historical closing lows and is close to its intraday historical lows at 1.83 euros.

Bankinter was the second value with the worst performance of the selective one, with a fall of 1.95% and was followed by Ferrovial (-1.21%). However, in the falls we must highlight Telefonica, which has dropped 0.96% to 7.43 euros, after Vodafone has decided not to buy football and that has been reported a security breach in Movistar which revealed data of customer bills.

In general it was a bad session for Spanish banks, in addition to the fall of Bankinter, Bankia has dropped 0.99%; BBVA, 0.97%; and Banco Santander has fallen 0.46%. On the other hand, the two banks of Catalan origin have closed with falls of 0.3%, both Sabadell and Caixabank.

On the side of the increases, ArcelorMittal has been the value with the best performance, after advancing 2.3%. It has been followed by Siemens Gamesa, which has risen 2% and IAG with an advance of 1.55%.

On the other hand, Enagás has kicked off the business results in Spain, which have been concentrated in two weeks, especially between July 25 and 27. The energy company reported a fall in its net profit of 18% due to the accounting effect of GNL Quintero in the accounts for the same period of 2017. The shares of Enagás have risen slightly by 0.25%.

This session Inditex has also been the protagonist, which has risen 0.65% and stalks 30 euros per share. The textile company has held a meeting of shareholders in which the dividend distribution has been approved of 0.75%, 10% higher than the previous year and has also approved the entry of Pilar López, president of Microsoft, to the board of administration. Pablo Isla, president of the company, reminded that Inditex pays more than 1,600 million euros in taxes in Spain, with a corporate tax of close to 23%.

On the other hand, Mediaset Spain has been infected by its Italian parent and closed with a rise of 0.18%. Mediaset Italia has announced a takeover of El Towers antennas. This news has caused a 4% increase in the Italian stock market.

OTHER MARKETS

The rest of the stock exchanges of the Old Continent closed with increases. Highlights the advance of the German DAX 30, which has risen 0.9%; For its part, the FTSE 100 advanced by 0.45% and the French CAC 40 by 0.26%. Wall Street lists in green while the results continue. On the New York stock exchange, Netflix dropped 14% after not convincing with the number of subscribers in the second quarter of the year. They have also presented their Goldman Sachs and Johnson & Johnson accounts.

Outside the stock exchange, one of the most important appointments has been the semiannual appearance of the Federal Reserve (Fed) President, Jerome Powell, before the Senate Banking Committee. For now, the Fed president has been confident that maintaining the gradual increases in interest rates is the best way, "for now", to move forward, given the strength of the labor market and the evolution of inflation , which is close to the objective set by the central bank.

On the other hand on Monday oil collapsed 4%, with Brent falling back to $ 72 a barrel. In the last days, volatility and lurches in the price of crude oil are being seen. In theory, the declines of last session were due to unconfirmed rumors that Saudi Arabia is pumping more crude into the market. In addition, there is speculation about the release of strategic reserves by the United States. At this time, the Brent barrel rises by 0.21% ($ 71.98) and the WT drops by 0.82% ($ 67.5).

Finally, the euro has turned around in its exchange against the dollar. The community currency falls slightly 0.2% and to 1,16988 'greenbacks'.

TECHNICAL ANALYSIS

José María Rodríguez, technical analyst at Bolsamanía, points out that Tuesday's session was very similar to yesterday's session. "It seems that the Ibex 35 has activated summer mode, hence the movements are, little by little, narrower. However, in the final stretch of the session it seems that our neighbors are encouraging something else and we have them with average increases of 0.4%, "he explains.

Undoubtedly, "Telefonica is weighing us again and accumulating a fall from last week's highs of 5%," he says. It did very well during the first days of July but in the same way it went up it is deflating. We trust that it respect at all times the support that presents in the annual minimums, the last minimum of reaction in the 7.16 euros.

For the rest, we can say that in theory we have the Ibex in support, the level of adjustment of 61.8% of the previous rise. "Which means that under normal conditions you can bet on a rebound that will take you to attack the resistance that presents in the downturn of the 9,890 points," says the expert. Above, the problem is that there are many resistances that we have within the price range between 9,971 and 10,075 points. In 100 points of Ibex we have numerous and important resistances. While below we have 9,440 points as a control area.