The Ibex 35 has rebounded 0.73% and continues its short-term bull run, after closing last week with earnings of 1.8%. The selective faces the 9,700 points (9,659.80) and takes advantage of the world stock exchanges' good run in the past few days to move away from the zone of annual lows.
- 11.656,600
- 0,39%
The best value was DIA (+ 4.83%), which continues reacting to the news of last Friday, Ricardo Currás' exit as the head of the supermarket group. The price went up almost 5% after knowing that Antonio Coto will take his place. On Monday, rumors of a possible bid from the LetterOne fund of Mihail Fridman, the largest shareholder with 25% of the capital, have returned.
After DIA, the second most profitable value was CIE Automotive. The manufacturer of components for automobiles has risen 4.05%, followed by CaixaBank (+ 1.85%) and Bankinter (+ 1.82%). Among the 'blue chips' stand out the increases of Inditex (+ 0.95%), Santander (+ 0.8%) and BBVA (+ 0.69%).
Repsol (+ 0.3%), Telefónica (+ 0.19%) and Endesa (+ 0.13%) also closed in green, while the only negative values were Acerinox (-0.17%), Viscofan (-0.16%) and Iberdrola (-0.03%).
In the main board, the winners of the day are Oryzon Genomics (+ 8%), OHL (+ 7%) and Prisa (+ 7%), while Natra (-6%), Berkeley Energía (-3%) and MásMóvil (-2%) are the most bearish.
The rest of European stocks are also dressed in green (Cac 40 + 0.90%, Dax 30 + 1% and Psi 20 + 0.4%), with the exception of the Ftse 100, which was closed today due to the United Kingdom's Summer Bank Holiday.
TRUMP, THE FED, CHINA...
The last political scandal that has been unleashed on the president of the USA, Donald Trump continues to draw investors' attention. The president could be "impeached" or suffer political judgement just ahead of the midterm elections.
Still in the US, Wall Street took the speech of Federal Reserve Chairman Jerome Powell very well. The central banker argued that the gradual rise in rates is still adequate, since he does not see "a high risk of overheating" of the US economy.
The S & P 500 and the Nasdaq closed at historic highs last Friday and this Monday they still bubbling, partially affected by the news that the US and Mexico have reached an agreement to renew their Free Trade Agreement, known as NAFTA.
In Asia, the stock markets have ended with important rises this Monday, especially in the Chinese parks (Shanghai: + 1.77% and Shenzhen: + 2.46%) and the Hang Seng (2.05%) of Hong Kong , after the announcement of the People's Bank of China of an adjustment in its methodology to fix the daily exchange rate of the yuan, in an effort to stabilize the currency market in the country.
On Friday, according to Reuters reports, the Chinese central bank resumed the use of a countercyclical factor in the mechanism of fixing the midpoint of the yuan, around which only the dollar is allowed to fluctuate by 2%. The measure is a one-step investment made in January to ease control over the renminbi's exchange rate, when the People's Bank of China effectively reduced the influence of the so-called 'countercyclical factor'.
However, the yuan has lost value to 6.8166 yuan per dollar on Monday, despite the decline of the dollar against its rivals, especially the euro, which has gone up to $ 1.1650, its best change against the dollar. 'green ticket' of the last 25 days.
The appearance of Powell in Jackson Hole played against the US currency, since investors "interpreted the words of the central banker as a lack of conviction of the Federal Reserve of how much the rates can be raised," experts say at Danske Bank. The pound changes hands at $ 1.2845, with little change in the day, despite the United Kingdom having announced the possibility of a free trade agreement with China after Brexit.
TECHNICAL ANALYSIS OF THE IBEX 35
"The Ibex starts the week with optimism, closing (nullifying) the bearish gap of 9,602 points, and now steadily moves to the next bearish gap, the 9,755 points, the origin of the last bearish lash caused by the resurgence of the crisis in Turkey ", explains José María Rodríguez, analyst of 'Bolsamanía'.
"In any case," adds this expert, "we keep repeating the same thing: the key is not to perforate the annual minimums at 9,327 points, in fact, it can be said that the Ibex has a double support (not a double floor). In the annual minimums, it would seem that the minimums of this month coincide with the March minimums, which is why we insist that any potential figure is back in terms of the medium term, to respect yes or yes this support ".
"And as resistance," he concludes, "a part of the bearish gap to which we have referred, we have the entire range of prices ranging from 9,925 to 9,985 points. That's why we talk about the 10,000 points for leaving a filter, in addition to being a round and psychological figure "
