The Spanish stock market has ended its worst streak in a year and a half (when it accumulated ten consecutive days of falls). The Ibex 35 has risen this Friday by 0.25% and with it has broken with six consecutive days of losses. However, the selective has not been able to recover the 9,200 points (9,117) and in the weekly calculation has fallen 3.1%. The rest of European stocks have also closed in green numbers, following the Shanghai Stock Exchange that soared more than 3% this morning.
'Sell with the rumor, buy with the news'. The markets have suffered this week with the commercial war. Donald Trump has kept his promise and has raised tariffs from 10% to 25% this Friday. Despite this, the markets have reacted with increases in Europe.
China and the US have remained the focus of the day (today is the second round of negotiations between the two powers in Washington) but, hours after the increase in tariffs has entered into force, Trump has confirmed that new tariffs of 25% Another 325 billion dollars worth of Chinese goods "are in process".
Trump has indicated that they will "generate more wealth" and make them "much stronger". In addition, he has used them as a way to mark distances with his predecessors: "I am not Obama, who let China get away with it."
After this, the New York Stock Exchange has not suffered the same fate and has started the session to the downside (its indexes are down more than 1%).
From the business point of view, the protagonist in Spain has been Telefónica. The operator reported a 10.6% improvement in its net profit until March and reported a reduction in debt for the eighth consecutive quarter. But their titles closed with a fall of 0.17%.
In addition, IAG has also published results, which has gained 11 times less until March because of the exchange rate and fuel. It reported 70 million euros in profit. The company has risen 1.66% in the stock market now and is the best value of the Ibex.
The most negative side of the Ibex is Acciona, which has lost 3% after publishing on Thursday (at the close of the market) figures that do not convince and that have been below the consensus.
Also, at the business level, the other protagonist of this Friday has been, undoubtedly, Uber. The company has opened a stock exchange on the other side of the Atlantic at $ 45 per share, which means a valuation of 82,000 million dollars.
France Telecom also made the news on Friday as faces the courts over a wave of suicides of its personnel because of the "institutional moral harassment" to which they were submitted around a decade ago.
Regarding the macro of the day, the GDP of the United Kingdom has grown by 1.8% until March and is better than expected. Today has been published from the United States in April. Inflation rose 0.3% in April, less than estimated.
TECHNICAL ANALYSIS
"The Ibex is still very weak, despite the very strong daily oversold levels, it was not able to rebound in the slightest, and when our neighbors do, we are way behind them, our index is weaker than the rest of Europe. , although this has been happening for about a month, it is not now, "explained José María Rodríguez, analyst at Bolsamanía.com.
That said "it is confirmed that we have an important resistance in the weekly bearish hole of 9,410 points, Monday's hole last week, to the extent that we do not close the corrective phase remains intact, despite the occasional rebounds that may occur. "
"The next important support we have in the 8,950 points, level that corresponds to an adjustment / recession of 50% of the whole rise from the December minimums" has detailed.
