Ibex 35 has rebounded 0.66% and closed at 10,022.20 points while investors are still focused on the evolution of the coronavirus, after the number of deaths has risen to 1,770 and those affected exceed 70,500. The Spanish selective did not go over 10,000 integers since May 25, 2018.
- 11.531,600
- 0,50%
At the corporate level, Telefónica has rebounded 2.18% and has been one of the engines of the market along with the electric sector with values such as Iberdrola (+ 1.89%) and Endesa (+ 1.43%). RBC analysts have raised their assessment of the latter after their commitment to renewable energy.
It has also transpired that the Chinese Government hid the respiratory virus outbreak for two weeks, at the beginning of January, before making its detection public, but this information is overshadowed by the round of stimuli from the People's Bank of China to alleviate the adverse effects of the epidemic
The news that comes from the Asian giant gives reasons to be optimistic. The country's central bank has lowered its one-year medium-term interest rate to 3.15% from 3.25%.
The central bank also injected around 200,000 million yuan (28.6 billion dollars) and conducted a repos operation worth 100,000 million yuan (14.3 billion dollars), putting more cash in the market through purchases of securities to short term.
Analysts expect these measures to be the beginning of a broader round of stimuli for small and medium-sized businesses, since "many of the companies affected do not have access to state loans," ING experts say.
The reaction to these measures of the central bank has breathed courage into the stocks of the second world power. The bitter side has been set by Japan, where the GDP contracted 6.3% in the last quarter of 2019 compared to the same period of the previous year, mainly due to the drop in domestic consumption, according to data published today by the Executive.
In the currency market, the euro remains close to the three year lows reached on Friday, when the Community currency yielded up to $ 1.0827, its worst price since April 2017 and on the edge of the bullish gap left by the euro / dollar after the French elections of that year, when Emmanuel Macron won.
Action is expected for the crossing and the markets in a week in which the central banks of Europe and the US will focus attention, with the publication of the minutes of both entities. For its part, Wall Street is closed on a bank holiday this Monday. In addition, Brent oil falls 0.17%, to $ 57.22 and the profitability of the 10-year Spanish bond falls slightly to 0.28%.
IBEX ANALYSIS 35
"There we have the Ibex, poking its head above the upward channel of recent months and above 10,000 points. This, in theory, can lead to an acceleration of the upward trend that leads it without many problems to the resistance of 10,300 points (May 2018) and above we have the maximum of January 2018 at 10,650 points, "argues José María Rodríguez, analyst at Bolsamanía.
"By values, we highlight the historical maximums of Endesa and Iberdrola, who are the main causes (together with Telefónica) of the rises on Monday. Repsol is still very weak and seems to have set course for the important support it presents in August minimums at 12 euros, "concludes this expert.
