The Ibex (-0.3%) reduces its initial losses after rebounding from 9,000 points

Trump has already said that this whole process seems "garbage", but the truth is that the Democrats had been threatening to start it for a while and now, with the elections just around the corner in the US, they have finally decided to set it in motion.

This is the fourth American president who faces an 'impeachment'. The last was Clinton in 1998. So far none have been removed from office for this process, although Nixon did decide to resign. The political trial investigation will begin in the House of Representatives, where only a simple majority is needed to press charges (Democrats do not need Republican votes here).

"This could lead to a trial in the Senate, where a two-thirds majority is needed to condemn the president. Voting in the Senate would probably require around 20 Republicans to vote against their own party, what it does (the ' impeachment ') less likely unless new information reveals and confirms more serious failures by the president, "said Danske Bank experts.

The latest news is that a transcript of the conversation between Trump and Zelenskien has been published, in which the president asks the Ukrainian leader to investigate Joe Biden. "There is a lot of talk about Biden's son, about Biden stopping the instruction, and a lot of people want to find out about this, so anything he can do with the attorney general would be great," Trump said.

In other markets, the euro strongly falls in value 0.6%, down to $ 1,0995. In addition, Brent oil falls 1.9%, to $ 61.91, while the ounce of gold yields almost 1%, to $ 1,525. Finally, the profitability of the 10-year Spanish bond falls to 0.12% and the Spanish risk premium relaxes to 70 points.

UNITED KINGDOM AND SANTANDER

Political instability is, without a doubt, the big issue on Wednesday. The problems and uncertainty on the other side of the Atlantic add to those of the United Kingdom. Parliament has resumed its activity on Wednesday after yesterday the British Supreme Court declared Boris Johnson's prorrogation as unlawful. The 'Financial Times' asks the United Kingdom Prime Minister on Wednesday to resign. However, given the current situation, the most likely scenario is an election and it is also more than possible that Johnson will be the winner of them. A situation that continues to be chaotic.

From the business point of view, and in relation to the United Kingdom, the announcement made by Santander last night (+ 0.39%) is news. The Cantabrian entity has reported a deterioration of €1.5bn in the goodwill of the United Kingdom that will affect the ordinary profit and will be present in the third quarter results.

Outside of Spain, there is talk of the resignation of the CEO of Thyssenkrupp, Guido Kerkhoff, after multiple warnings of benefits from the company. Also, automakers are in the 'eye of the storm' after accusations against the Volskwagen directive for not warning of the 'Dieselgate' and the fine to Daimler for the scandal of diesel emissions.

IBEX TECHNICAL ANALYSIS 35

"Although the Ibex and the European exchanges close this Wednesday far from the minimum of the day, the truth is that it can be said that the phase of reaction or proportional adjustment of the previous rises has begun. The bearish divergences that we comment on Tuesday are having its effect on prices and, bounces apart, it is regrettable that the falls have continuity over the next few days, "argues José María Rodríguez, an analyst at Bolsamanía.

"The correction we are having seems very small and the stochastic moment oscillator suggests deepening the falls a little more. Although as we should know from experience, it is not necessary to fall violently, it is enough to consume time, or what is the same deploy a lateral movement. And in this last scenario it is the one that best fits the current situation of our selective ", adds this expert.

"And in spite of the slight falls of the last sessions, we still have increasing minimums and maximums. And most interestingly, the daily overbought is relaxing considerably. In short, it does not seem that we are going to attend important declines, but yes we could remain lateral between 8,960 and 9,200 points "concludes this expert.