The Ibex 35 rises 0.4% to 9.228 points, after marking an intraday high of 9.283 whole. The selective is still attached to important levels of technical resistance, although for the moment it has decided not to overcome them. The market is waiting for another vote in the British Parliament, which is expected to approve the request for an extension for the United Kingdom to leave the European Union.
- 11.656,600
- 0,39%
In the business sector, the paper group Ence has plummeted almost 5% in the Ibex after the Government has desisted to defend, in the proceedings opened in the National Court, the extension of the concession to its factory in the Ria de Pontevedra , granted by the PP government in January 2016.
On a positive note, the good moment of Banco Santander stands out (+ 0.7%), which closed very close to its significant technical resistance of 4.40 euros. In the Continuous Market, Service Point has increased by 25% and OHL by more than 5%.
At the international level, it should be stressed that the Boeing crisis is still very present. The United States has also banned its 737 MAX plane model in its skies after the accident in Ethiopia that killed 157 people. In addition, the German airline Lufthansa has collapsed 5% after defaulting on its results.
ETERNAL BREXIT
Although this vote could be considered 'the final' one, nothing is certain. On Tuesday, the first vote took place, in which Theresa May's plan was rejected; this Wednesday parliament voted 'no' to a hard Brexit; and this Thursday it's set to vote for an extension on Brexit, something that predictably will go through, and will be well recieved by the market.
"We hope that the House of Commons vote today in favor of an extension of the term of Article 50, but the most important question is whether the bloc will try to influence the new defeat of May by demanding a long extension rather than a short one. We need to monitor the EU's response before the EU summit next week, which will increase the pressure on the 'Brexiteers', warning them that the alternative to the May agreement is not a harder Brexit but a softer one or maybe even a 'no Brexit' ", explain analysts at Danske Bank.
Wall Street ended on Wednesday with increases of 0.6% on average (the experts of 'Bolsamania' warn that the indices are there in full resistance) while in Asia they have dominated the more or less moderate falls (they have been more accused in China for the worst macro data).
CHINA AND THE UNITED STATES ... AGAIN
The imminent signing of a trade agreement between China and the United States is again in doubt today. Donald Trump says now that he is in no hurry, while Bloomberg reports that a meeting between him and Xi Jinping will not take place, at least, until April.
The agency also notes that Beijing is afraid that Trump will get up from the table without reaching a pact and reports that Xi Jinping has requested that there be no further meetings until the final summit between the two leaders.
Finally, regarding macro data of the day, Germany's inflation rose 1.5% in February.
TECHNICAL ANALYSIS OF THE IBEX 35
"The Ibex 35 closes above the resistance of the 9,200 points, but remains close to closing (or what is the same to void) the bearish gap, by definition resistance, of the bearish gap on Friday of last week ( 9,250) For the time being it has been filled in, but it has not been closed or canceled, "says José María Rodríguez, an analyst at Bolsamanía.
"In any case, the sensations are not all bad because we already have the stochastic moment oscillator trying to turn upwards from oversold levels, in other words, at the end of February we were on the same level but overweight and now we are underweight. ", adds this expert.
"That is to say, it is now easier for us to attack resistances successfully than a few weeks ago, but we insist, we will not trust to the extent that Santander does not break above 4.40 euros and if, in addition, it could being with Telefonica above 7.85 euros, better than better ", concludes Rodríguez.
