The Ibex (+ 0.41%) closes its eighth session in green and looks towards the 9,500 points

The imposition of new tariffs between China and the United States has boosted ArcelorMittal in the Spanish stock market, which closes as the best value of the session with a rise of 3.92%, and Acerinox, which has risen 1.93%.

The banking sectir has been the other great impulse of the Ibex in this session. Profits of more than 2% for Bankinter, Bankia, Santander and BBVA, and more than 1% for Sabadell. Only CaixaBank (+ 0.24%) shows smaller increases.

Regarding the values ​​in red, Técnicas Reunidas heads the losses dropping 4.29% after Kepler's experts have warned that the company is far from recovering and affirms that it will not have a normalized environment until 2021. Losses close 2% also for Cellnex (-2.07%) and Aena (-1.99%).

TRADE WAR

In Europe, new day of increases. The markets remain calm despite the rebound of the trade war between China and the United States. It remains to be seen if the escalation of trade tensions between the two leading world powers will end up taking a toll on the stock markets, although the question among experts is whether "we are moving towards a rally at the end of the year?" analyst Ramon Morell points out. Especially on Wall Street, "the answer is that investors are still betting on the stock market as the Federal Reserve is taking its precautions in the gradual rise in interest rates and because in reality an honorable trade agreement with China is expected at the end of the journey. ", Adds the analyst.

The latest batch of US tariffs on 200,000 million dollars on Chinese importas have been answered by Beijing with another 60,000 million in taxes, mean that at the moment the US will apply already tariffs on 50% of imports of products and China will do about 85% of US exports to that country. So experts and markets bet that the situation is resolved favorably.

In the currency market, the attention goes to the pound, which is enjoying a 'momentum' and raised its price to a maximum of almost eight weeks on Wednesday in the run-up to the informal summit that the prime minister, Theresa May , celebrates with the leaders of the European Union (EU) in Salzburg.

TECHNICAL ANALYSIS

José María Rodríguez, technical analyst of 'Bolsamanía', remembers that at the end of last week we said that, although the Ibex was listing in a resistance (then the 9.300-9.330 points), "we left the door open for the rebound to have continuity and we relied, mainly, on the fact that BBVA was bouncing from the base of the bearish channel (support), in addition to the bullish divergences that it presented at that time ". The expert points out that BBVA is the highest rising title of the Ibex 35: "For some strange reason we can not confirm the perforation of supports / overcoming resistances if the Basque entity does not accompany the movement".

Punctual corrections aside, the analyst of 'Bolsamanía' points out that BBVA could go to look for the area of ​​six euros, which is where the upper part of the channel passes right now. "And even then the bearish trend from the January highs would remain bearish," he adds. Rodriguez repeated that the rebound is still intact, but within a downtrend of higher order: "This will only change if in the coming days the Ibex goes for the resistance of the 9,671 points, the last rising maximum".