The Ibex (+ 0.41%) closed the day with advances in line with the European places -except London- after the European Union (EU) offered Theresa May an extension until October 31 for the Brexit . It's more than she wanted, but the United Kingdom still has the possibility to leave sooner if she so chooses. Within the Spanish selective sector, the best performance was for banks, specifically for Sabadell (+ 3.5%), which, together with IAG, has celebrated this "forward-looking" Brexit with increases of 5.8%. Against this, all the energy companies have quoted in red pressuring the selective.
- 11.656,600
- 0,39%
"The prime minister will have to return to the UK and explain to her disgruntled Brexit supporters that the UK will not leave on April 12 and will be in the EU for another six months. This could increase the internal maneuvers of the party to replace her ", explains Michael Hewson, head of analysis of CMC Markets in the United Kingdom.
The stock exchanges, in general, have remained calm before the events of the last few days. In the opening, they have not reacted significantly to the latest Brexit news, although they have been encouraged as the session has advanced. There was also no reaction yesterday to the words of Mario Draghi (as expected, he did not offer details about the measures planned for the banks, which would not arrive until the summer), nor has the content of the minutes of the last meeting of the Reserve had any impact either. They confirmed that the majority of the Fed agrees to keep the rates unchanged.
MEDIASET, SACYR ... AND THE MACRO DATA
Mediaset has been one of the values that has stood out this Thursday in the Ibex, rising 2.3% due to a change in the target price of 6 euros to 6.8 euros from HSBC, which means giving it a potential to rise of 10%.
Along with Mediaset, the attention is also on other securities, such as Sacyr, which has rebounded 5.6% after the bump of last session (-9%) after announcing the issuance of convertible bonds.
Regarding the macro data of the day, the CPI of Germany in March has been known, which has risen by 0.4% per month, in line with what was expected. In China, the March CPI rose 2.3% year-on-year against the 2.4% estimate. The IPC of the Asian giant fell by 0.4% monthly in March compared to the -0.2% expected.
TECHNICAL ANALYSIS
"The Ibex filled the bullish gap on Wednesday last week and put a brake on the corrective phase of recent days, the minimum of this Thursday was marked at 9.372 points and the gap in question is at 9.363 points. It's hollow stuffed in its entirety, but not closed, "said José María Rodríguez, technical analyst at Bolsamanía.
"Which is a sign of strength, in fact, we can not rule out that from here we try to attack again the resistance of the 9.555 points and, above, the area of the 9,700 points, the upper part of the last bullish channel. We can now say that the gap has worked as a support and as long as it does not close it we will not have the slightest sign of weakness within the current structure of prices "he added.
"In addition, this movement is being clearly supported by Santander, which manages to close the bearish gap of 4.43 euros and is positioned to attack the resistance that presents at the annual highs (4.52). The blue chips' BBVA and Santander are the ones that are supporting the Ibex this Thursday. "
"If we ask, we would like Inditex to do the same over the resistance of 27.07 euros, because above this it would confirm a second big bullish momentum", he concluded.
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