The Ibex 35 has signed a bullish repóker (five consecutive days in positive) and has marked new highs of the year in closing prices in 9.534,10 points. The Spanish selective has risen 0.49%, accumulates a weekly return of 3.1% and rises 11.3% so far this year. It hasn't closed at these levels since September.
- 11.656,600
- 0,39%
Among the most bullish values of the day, Acciona and Sabadell have rebounded more than 2%, while BBVA has advanced 1.57%. Bolsamanía has published that its president, Carlos Torres Vila, has received 180,000 shares within its variable remuneration system, valued at one million euros.
For its part, Santander has risen 0.99% after closing on Wednesday with increases of 2% after presenting its strategic plan in London. The bank said it plans to invest 20bn in digitization until 2022. It also said it expects to save 1.2bn in the medium term with an efficiency plan.
It is also worth noting the performance of other securities, such as Inditex (+ 0.98%), Telefónica (+ 0.89%) and Iberdrola (+ 0.63%). The electric continues to mark historical highs and rubs already 8 euros per share.
On a negative note, Repsol has dropped 1% after Barclays analysts have lowered their profit forecast due to a worse performance of their businesses in Libya and Venezuela. The most bearish values of the Ibex were Mediaset España (-2.36%) and Indra (-1.38%).
Outside of Spain, this Thursday we talk about the supposed interest of UniCredit in Commerzbank. According to the Financial Times, the Italian bank would be interested in bidding for the German if the latter's negotiations with Deutsche Bank fail.
In other markets, Brent oil rose 0.2% to 69.48 dollars, while the euro depreciated 0.12% to 1.1219 dollars. On the other hand, Spain's risk premium drops slightly to 112 points, while the yield on the Spanish 10-year bond eases to 1.12%.
BREXIT AND COMMERCIAL NEGOTIATIONS
This Thursday, the big issues are again Brexit and trade negotiations between China and the United States. On the first issue, the House of Commons has passed legislation to force Prime Minister Theresa May to seek an extension for Brexit and thus avoid a disorderly departure from the European Union on April 12. It seems that the 'kick forward' and the Brexit extension are valued positively, given that they would avoid what is most feared: a hard Brexit.
As for the negotiations between the two main world economic powers, Donald Trump is scheduled to meet with Chinese Vice Premier Liu He this Thursday. It is speculated that the pact could be imminent, although the hardest part of the negotiation is missing, which consists in closing agreements on the 10% of the most thorny issues.
As for the agenda of the day, factory orders in Germany have been known, a figure that has come out much worse than expected. In addition, the minutes of the last meeting of the European Central Bank (ECB) have shown the debate within the body on the possible measures to be taken to 'compensate' the banks for the current negative interest rates.
As for the economic situation, the minutes have indicated that the ECB considers "relatively low" the probability of a recession in the euro zone. "The baseline scenario is for solid growth to return by the end of this year," the agency expects.
TECHNICAL ANALYSIS OF THE IBEX 35
"There we have the Ibex, at the annual highs (9,534) and approaching the resistance zone that it presents in the upper part of the bullish channel in recent months: now at 9,650 points, but in the very short term, We recommend some caution as we have the bullish gap on this Wednesday (9,360) pending to be filled, at least partially, adding that little by little we started to go back into daily overbought, which in some way reduces our gasoline to continue going up, "says José María Rodríguez, an analyst at Bolsamanía.
"Let's not forget that, in the absence of a session to close the week, our selective accumulates a positive weekly balance of more than 3%, we will see if the most capitalized title of our market (Inditex) is able to jump over the resistance of 27.07 euros.To jump, we will have a new and important revulsive to continue rising in the short term, "adds this expert.
