The Ibex (+ 0.47%) is close to the 9,200 points driven by Santander and BBVA

After registering a very negative week due to the decision of the European Central Bank (ECB) to delay interest rate hikes until at least the end of 2019, the Spanish banking sector has recovered some of the lost ground. In negative, Cellnex (-1.4%), Grifols (-1.3%) and Colonial (-1.2%) were the most bearish values.

In the Continuous Market, OHL has rebounded 5.8% after El Confidencial has published that the Italian group Salini Impregilo is interested in buying the company. Internationally, the protagonist has been Boeing, which drops strongly (-6%) after the crash of one of its 737 Max planes in Ethiopia, which has killed 157 people.

The regulator of aviation in China has ordered all domestic airlines to immediately suspend the use of all Boeing 737 Max aircraft models. For its part, Boeing has announced that it will postpone the holding of the presentation of its new aircraft, the Boeing 777X, after the accident of the aircraft of the African airline.

In other markets, Brent oil rose 1.4% to $ 66.71, while the ounce of gold fell 0.5% to $ 1,292. For its part, the euro fell in value slightly by 0.04% to $ 1.1231. In addition, the Spanish risk premium has rebounded strongly by 11%, up to 110 points, while the yield of the Spanish 10-year bond has rebounded to 1.16%.

THE BREXIT ENTERS SCENE

On a geopolitical level, the week will be marked, again, by Brexit. The British Parliament will return to vote in the next days (Tuesday, Wednesday and Thursday) and it could end in the delay of Brexit.

"Brexit will be very important this week, with three key votes in the House of Commons starting on Tuesday, we think the most likely outcome is that Parliament will vote in favor of asking the bloc for a brief extension of Article 50," indicate the experts of Danske Bank in their daily report.

In Spain, the weekly appointment will be the results that Inditex (-0.1%) publishes this Wednesday. What the Galician textile says will be decisive for its evolution in the stock market, but also for the Ibex march.

In addition, another of the highlights of the week will be the 'Quadruple witch hour' on Friday (expiration of options and futures on both sides of the Atlantic) that could bring an increase in volatility and, above all, the volume of trading, so scarce in recent times.

Also, it should be remembered that this weekend the United States has changed the time, so the session will open one hour before and all the macro data there will also be known one hour before. This situation will remain the same for two weeks, until Europe changes its time on March 31.

Regarding the macro data of this Monday, the retail sales in the United States have registered a slight rebound of 0.2% in January, although the bad data of December has been revised further downwards. In Spain, retail sales accelerated their growth to 1.7% in January.

In Germany, industrial production fell by 0.8% in January, well below the expected rise of 0.5%, although as a counterpart the data for December has been revised upwards significantly. Lastly, car sales in China fell by 13% in February, confirming the Asian giant's economic slowdown.

TECHNICAL ANALYSIS OF THE IBEX 35

"Profit session that leaves the door open for the Ibex to try to fill (by who knows if closing) the bearish gap this Friday, by definition resistance, at 9,250 points, that's where we have the first real resistance. If we are able to close this gap, or what is the same to cancel it, we will have a first sign of strength within the lateral movement that has been moving the price for almost a month, "says José María Rodríguez, analyst at Bolsamanía.

"The good thing is that without having fully corrected the daily overweight levels, it begins to relax more and Banco Santander, the leading value of our index (even more than Inditex), is bouncing with maximum precision from the straight support that joins the increasing lows of the end of December. Who knows, but we cannot close the door to the possibility that the title will deal with attacks again from the resistance of 4.39 euros, "adds this expert.