The Ibex rises 1.07% after Merkeld averted a political crisis in Germany

Precisely, the risk of that crisis, together with the triumph of the leftist candidate, Andrés Manuel López Obrador, in Mexico, were two determining factors to explain the falls in Europe this Monday. It should be noted that Wall Street ended the session with moderate rises.

Finally, the German Chancellor and Seehofer reached a pact to build immigrant transit centers that would allow Germany to send asylum seekers back to their destination in Europe.

"As a positive aspect of the day, the political confrontation between the German Chancellor Angela Merkel and the brother party of the CDU, the CSU, has come to an end, since yesterday a compromise was reached at the last minute," they stress in their daily report the experts from Danske Bank.

"The euro recovered late on Monday as the political risk in Germany drastically decreased (...) Merkel has demonstrated once again its extraordinary capacity to negotiate despite the difficulties," says Jasper Lawler, London expert Capital Group. "However, the euro has not advanced convincingly since the area of ​​1.1650. It is estimated that retail sales in the Euro Zone that are published on Tuesday will fall in May, so that the common currency could be affected," adds the analyst.

In addition to the retail sales of the Euro Zone, other references will be known today. In Spain, unemployment fell by 89,968 people in June for the ninth month in a row. In addition, the Reserve Bank of Australia has maintained rates at 1.5%, stating that an unchanged policy is consistent with meeting the IPC objective over time.

In addition to the retail sales of the Euro Zone, the unemployment of Spain has been known today, which has fallen by 89,968 people in June for the ninth month in a row. In addition, the Reserve Bank of Australia has maintained rates at 1.5%, stating that an unchanged policy is consistent with meeting the IPC objective over time.

BUSINESS

Only three values ​​in red on the Ibex 35 on Tuesday: Merlin Properties (-0.85%), ArcelorMittal (-0.55%) and Acciona (-0.17%). On the other hand, DIA led the rises of this session with an increase of 2.45%, similar to that of Mapfre (+ 2.22%), Telefónica (+ 2.18%) and Iberdrola (+ 2.08%) .

Banco Santander (+ 1.1%) also made the news today, after confirming that Aegon will be its new insurance partner instead of Allianz. Equally noteworthy is Banco Sabadell (+ 0.74%), which has announced the sale of problematic loan portfolio 'Galerna' to the Norwegian investment fund Axactor.

In the main board, Pescanova stood out, which shot up 13.7% amid strong volatility and for no apparent reason. Sacyr has fallen 2.13% on Tuesday after knowing that it will investigate its subsidiary Aplicaciones Geopol, the company invested in the market of an operation against alleged irregularities in contracting traffic applications by several municipalities.

TECHNICAL ANALYSIS

According to Jose Maria Rodriguez, technical analyst of 'Bolsamanía', the rebound that started the Ibex from the lows of this Monday is having continuity. Specifically, the expert refers to 9,430 points, which seems to be the base (support) of a triangle (decreasing maximums and increasing minimums).

Along with this, he adds: "The daily oversold levels show extreme readings, which under normal conditions should favor a rebound for the next sessions." Of course, Rodriguez clarifies that it is important that "the base of the triangle is not pierced to the bottom if we do not want to start seeing ghosts once again".

The analyst explains that there are numerous supports within the range between 9,330 and 9,430 points: the 9,330 (annual minimum), 9,400 (May minimum) and 9,430 points (yesterday's minimum). "To the extent that the base of the triangle endures, you can not even rule out a visit to the top of it, now at 10,100 points," he concludes.