After correcting 1.3% in the first two sessions of the week after setting new annual highs last Thursday at 9,588 points, the Ibex 35 has been boosted by Iberdrola's profits (+ 4.3%) for its results to go up 0.47% and recover the 9,500 integers (9,501.20 points). Other electricity companies, such as Endesa (+ 1.55%) and Naturgy (+ 1.54%), also posted outstanding profits.
- 11.473,900
- 0,33%
The power company chaired by Ignacio Galán has risen more than 3% by publishing results that impressed analysts with growth in all businesses. Their actions, in addition, have marked new historical highs above 8,18 euros.
In addition, Bankinter (+ 0.06%) announced an improvement in its first-quarter profit of 1.4%, while BME reported a 16.5% drop in its share.
In negative, few values. Inditex (-2.6%) was the most bearish after Morgan Stanley published a report in which it reiterated 'underweight' rating due to growing pressures on its business. In addition, ArcelorMittal has fallen by 2% and BBVA by 1%.
In the Continuous Market, Atresmedia has shot up 10% after improving yours by 26%. On the other hand, DIA has fallen by 3% while the success of the Fridman bid is in jeopardy.
In Europe, the Swiss bank UBS has reported a 27% drop in profit after a "very difficult quarter". The end of the negotiations between Commerzbank and Deutsche Bank for a potential merger has also made the news today.
ELECTORAL CAMPAIGN
Beyond all this, the electoral campaign continues in Spain as Sunday elections loom. And in this context, the EPA of the first quarter has been published today. Unemployment has risen by 49,900 people, its worst record since 2013. Other aspects have also been highlighted in the calendar on Thursday, such as the Bank of Japan's decision to keep rates unchanged at -0.1%.
Kim Jong-un and Vladimir Putin have already held their first summit, in Vladisvostok, and have described the meeting as "crucial" to improve the Korean peninsula . It is also worth noting the meeting of the Japanese Prime Minister, Shinzo Abe, with the European leaders at the EU-Japan summit in Brussels.
In other markets, Brent oil rose 0.6% to 75.06 dollars, after marking annual highs at 75.60 dollars. In addition, the euro fell in value 0.13% to $ 1.1141, after marking minimums of almost two years at 1.117. And the yield on the Spanish 10-year bond has fallen to 1.07%, while Spain's risk premium has risen slightly to 109 points.
TECHNICAL ANALYSIS OF THE IBEX 35
"Once again we moved away from the first very short term support zone, which we found in the upward gap of 9,360 points, and the good thing is that in only two sessions of falls we have corrected a large part of the daily overbought levels and that is good, "argues José María Rodríguez, an analyst at Bolsamanía.
"But otherwise everything remains the same, we continue within the impeccable bullish channel of recent months, which base (support) for this moment by the 9,300 points and as resistance we have the upper part of this, now at 9,760 points", add this expert.
"We still have no excuse to sell because we have not drilled any support, which does not mean that we no longer go up with the joy of before, it's called altitude sickness, and it's about maintaining the bullish positions in the background because building minimum and maximum increases does not fall, rather, quite the contrary ", concludes Rodríguez.
