Despite opening the session flat, the Ibex 35 has risen with enthusiasm on Tuesday. The selective has risen in value 0.85%, up to 9,549 points, after falling short on Monday and unable to reach the key level of 9,470 points.
- 9,400€
- -1,05%
- 11.435,700
- -0,28%
Investors' focus has been on BBVA today, as the rating agency Standard & Poor's (S & P) decided on Monday to downgrade its outlook, from 'stable' to 'negative', thanks to the political and economic crisis in Turkey. For its analysts, the situation of uncertainty in Turkey has "potential" to negatively affect credit at the bank chaired by Francisco González.
The bank fell 0.44% yesterday at the close of the market, practically erasing the rebound of the past 16 August. BBVA has risen almost 1.5% on Tuesday.
However, the best Ibex values were Siemens Gamesa (+ 3.84%), Mediaset (+ 2.25%) and Acciona (+ 1.76%). Meanwhile, only four stocks have been stained red this session: Colonial Real Estate (-0.38%), Indra (-0.37%), Acerinox (-0.17%) and Grifols (-0.08%) .
TRUMP AGAINST EVERYTHING
Beyond the Ibex, the main European stock exchanges ended the day with moderate gains, between 0.4% and 0.7%, except the London FTSE 100 index, which has lost almost 0.2%.
In the United States, the eyes are directed to the president Donald Trump, after he"meddled in the financial markets", in the words of analyst Ramon Morell. In fact, Wall Street closed with timid earnings after the President's interview with Reuters in which he decided to take a dig against absolutely everyone. And, especially, against the US Federal Reserve (Fed). On Tuesday, at the close of the Spanish market, the New York Stock Exchange registered moderate purchases.
For the third time in recent months, the US president charged against the monetary standardization policy of the central bank and, not content with that, said he will continue to criticize the central bank as long as it continues with the rate hikes. Speaking to the news agency, he announced his disapproval with the measures of the president of the monetary supervisor, Jerome Powell, and that the Fed must do that "which is good for the country." In response, the dollar has fallen to lows of 11 days.
Trump also charged China claiming it manipulates its currency to counter tariffs imposed by Washington on imports of Asian products and said it does not expect much from the planned talks between Washington and Beijing scheduled for later on this week.
Asian stock markets reacted to these comments and resumed their falls at dawn, but optimism about the smooth running of the talks between Washington and Beijing has ended leading the markets to Green at the close. The Nikkei (+ 0.09%), Shanghai (+ 1.37%), Shenzhen (+ 1.43%), the Hang Seng of Hong Kong (+0.50) and the Kospi (1.03%) South Korean they lead the advance. The Australian ASX200 (-0.96%), however, dyes red.
The stock market down under has reacted negatively to the speech of the Bank of Australia Reserve Governor, Philip Lowe, who has warned that interest rates will rise "at some point" and has urged loan holders to prepare for an environment of higher types.
TECHNICAL ANALYSIS
Back to the Ibex, for José María Rodríguez, technical analyst at Bolsamanía, "even though everything continues to form (for the moment) part of a rebound", at least it has been achieved "leaving behind the resistance zone of the 9,500 9,510 points. " This was the basis (before support and now potential resistance) "that presented our selective at the base of the triangle that was drilled downwards last week", as explained by the expert.
"At the moment, it is a simple rebound that fills the last of the bearish holes, although it presents another of greater relevance at 9,755 points, just where the last 'whiplash' had its origin," adds Rodriguez. "On the positive side we have the fact that the last fall has slowed down at the door of the important support of 9,327 points (annual minimum)."
On the other hand, the technical analyst stresses that "the great European futures (Dax and Euro Stoxx 50) have reduced falls, to the cent, in the support that they presented in the June lows". With this, "it can be said to an extent that if the European indices (and the Ibex) respect the minimums of last week there is room for hope". "In any case, what is clear (as almost always) is that the banks' weakness drags the Ibex down ", concludes the expert.
