The Ibex 35 rises 1% and reconquers the 9,100 points (9,129) driven by the banking sector, which advances very strongly. Specifically, Bankia leads the selective with a revaluation close to 7%. Spanish banks thus react to the Fed's rate decision on Wednesday. The good news is that the central bank has not left the door open for further declines in the price of money. The sector of European banks is rising today 2.5% and the rest of the squares of the Old Continent increase in value around 0.6%.
- 11.656,600
- 0,39%
The division within the Fed was reflected in the points diagram provided by the agency on the forecasts managed by members of the FOMC, the Federal Open Market Committee, in relation to the evolution of interest rates.
According to the projections, currently seven FOMC members anticipate an additional reduction of 25 basis points before the end of the year, which would imply a new cut in October and December. However, five other members do not anticipate further cuts and five other members would have liked to keep the rates unchanged until the end of the year.
"The current scenario is complex and justifies different visions," Jerome Powell said during the press conference. "It is very difficult to anticipate the evolution of rates" because there is "great uncertainty," added the central banker, who mentioned trade disputes, Brexit and lower global growth as the main current weaknesses.
The attention continues this Thursday focused on central banks. Today the Bank of England has kept rates unchanged, as expected by the consensus. For its part, the Bank of Japan, with a vote of 7 to 2, has also kept its monetary policy unchanged and future orientation also unchanged. "The Bank of Japan is still waiting, but recognizes that the risks of foreign economies continue to increase and now considers that more attention is needed to lose momentum to achieve the price stability objective," explain the Deutsche Bank analysts.
POLITICAL UNCERTAINTY AND OTHER MARKETS
Finally, in Spain investors are still influenced by the political uncertainty and that more and more voices are referring to the impact of this situation in an economy that, every minute that passes, is weaker.
In other markets, Brent oil rises 1.6%, to $ 64.62, due to fear of a global supply shortage after attacks on Saudi oil facilities. In addition, the euro appreciates 0.2%, up to $ 1.1050. In addition, in the debt market, the profitability of the 10-year Spanish bond remains at 0.25%, while the Spanish risk premium also remains at 75 basis points.
IBEX TECHNICAL ANALYSIS 35
"Finally, no support was drilled at any time because in closing prices of the Ibex the 9,000 points have always been respected. And after slightly correcting the daily overbought by deploying a small side, we continue to climb. As we mentioned in the last sessions already there is no resistance until 9,410 points: the weekly bearish gap at the beginning of May. 'Gap' that was filled in twice but that in no case was closed, "explains José María Rodríguez, analyst at Bolsamanía.
"And why are we going up this Thursday more than our European neighbors? For the same reason that before we fell more than them: because of the banks. The European banking sector rebounds on Thursday just over 2% and many of our banks bounce twice, at as before they fell more than the sector, it almost always happens that what falls most is what bounces the most and that is the case, mainly, of Bankia and Sabadell, two banks that in mid-August marked new minimums of all time As for Wall Street, we already have the S&P 500 at only 0.25% of the historical highs, 3,027.98 points, "adds this expert.
