The Ibex recovers the 9,500 driven by Telefónica, Iberdrola and Repsol

The Ibex 35 has risen 0.33% and has recovered the 9,500 points (9,524.80), in a day with a lot of informative news and while the markets are still pending the appointment with the US Federal Reserve, which plans to raise the interests this afternoon.

IBEX 35

11.418,700
-0,42%

Santander (+ 0.2%) reported yesterday the dismissal of José Antonio Álvarez as CEO (he will now be vice president of the entity and president of Santander Spain) and the appointment of Andrea Orcel as Santander's new CEO.

Orcel is an Italian investment banker, currently CEO of investment banking at UBS. Analysts believe that Orcel will mainly strengthen the entity's corporate banking and do not rule out the development of a strategy focused on growing through large operations or international alliances.

The second Spanish bank, BBVA (-0.38%), has also been the protagonist because it has announced that its current CEO, Carlos Torres, will replace Francisco González as CEO starting in 2019, when he retires.

On the bullish side of the Ibex, Indra (+ 2.93%) and Acciona (+ 2.23%) were the most profitable, while Telefonica rebounded 1.59%, followed by Iberdrola (+ 1.33% ) and Repsol (+ 0.7%). On the negative side, Bankia lost 2.16%, followed by ArcelorMittal (-1.48%) and Sabadell (-1.13%).

ARGENTINA, SPAIN, US ...

As for Argentina, the situation softens on Wednesday after the crisis experienced last session with the resignation of Luis Caputo, governor of the central bank. Caputo has left his post alleging personal reasons and in the process of negotiations to reach an agreement with the IMF (International Monetary Fund), which finally seems to have been achieved. Argentina and the IMF would have reached a pact for the country to receive additional funds to the 50,000 million dollars agreed last June.

The emerging crisis returns, therefore, to take center stage before the situation in Argentina, something that does not favor the Ibex at all, with multiple companies with interests in the country.

Meanwhile, news continues to come from the General Assembly of the United Nations. The President of the Government of Spain, Pedro Sanchez, has declared from there that he intends to remain in power until 2020. This, while the Minister of Justice, Dolores Delgado, continues 'on the line'.

On the other hand, the president of the US, Donald Trump, returned to attack China in his speech to the UN, making it clear that the commercial war will continue. "We see a high risk that Trump will soon announce tariffs on China's other imports." When he reported the $ 200 billion tariffs, he declared that the US would go ahead with tariffs worth another $ 267 billion if China retaliated. " the experts at Danske Bank point out.

APPOINTMENT WITH THE FEDERAL RESERVE

Finally, and not least, this Wednesday we will know the decision of the Federal Reserve (Fed), which is expected to raise rates again. "We expect the Federal Reserve to increase the target range to 2.00-2.25% (...). With respect to the Federal Reserve's projections, it is likely that it will still point to another rise in December and three increases in the next year ", point from Danske.

Before the Fed raises rates and its president, Jerome Powell, offers a press conference, the euro falls to 0.25% against the dollar, up to $ 1.1752. For its part, Brent oil fell 0.6% to $ 81.38; and the yield of the Spanish 10-year bond eases slightly to 1.52%.