Day of moderate movements among the European stock exchanges, which have remained cautious while waiting for the meeting between Donald Trump and Vladimir Putin, which has ended a few moments ago. The Ibex 35 closed with a fall of 0.18%, to 9,716 points.
- 11.656,600
- 0,39%
Looking at companies, Cellnex has been the best value of the index this Monday with a rise of 0.9%, together with Siemens Gamesa (+ 0.88%) and Acciona (+ 0.87%). On the other hand, day of losses for DIA (-2.46%), Aena (-1.61%) and ArcelorMittal (-1.34%), which have led the red numbers.
Iberdrola (-0.24%), on the other hand, has not managed to close in green despite the fact that experts from Morgan Stanley have pointed it out as one of its preferred energetics.
In the main board, day of great volatility for Duro Felguera, whose titles have finally closed with a rise of 17%. This Tuesday ends the capital increase of the group, and volatility has also taken over the rights of the company.
As for Europe, also a day of moderate movements, awaiting the outcome of the Trump-Putin meeting, and only with the Dax 30 in green (+ 0.25%). The Footsie 100 ends up as the worst European index (-0.8%) on the day that Parliament votes on the future of Brexit.
TRUMP IN THE NEWS
The meeting between Trump and Putin is preceded by the "chaos" that generated Trump's tour of Europe over the past week and harsh statements by the president of the United States on the European Union (EU). Some say that Donald Trump has used this strategy to please Putin and that he will not miss the opportunity to make 'good friends' with Trump and try to change the current order in the West, which clearly keeps him as the 'black sheep' of Europe.
With this historic event very present, the European stock exchanges try to keep the cuts contained after a close last week that was complicated by the US tariff measures and the noise of this tour of Donald Trump in Europe, and in a moment 'Strange', with many people on vacation as the season of presentation of results begins with force.
SEASON OF RESULTS
"Over the next five days, fifty-nine companies integrated in the S&P 500 index will release their results, with companies such as Bank of America, BlackRock, Netflix and Tessco publishing during and after today's session. Also Goldman Sachs, United Airlines, Johnson & Johnson, IBM, American Express, eBay, Microsoft and General Electric, among many others, "explain the experts at Link Securities. "Enagás will informally give the 'kick-off' to the results season in Spain when it publishes tomorrow," these analysts add.
"In general, concerns about tariffs start to be set aside and, instead, investors start focusing on positive earnings announcements, which have helped push shares to maximum levels of three weeks in Europe, while US markets reached levels last observed in February and the Nasdaq again reached record highs, "said Michael Hewson, head of analysis at CMC Markets in London.
As for the day's data calendar, China's GDP has been published, which has slowed down to 6.7%, two-year lows, reflecting that the trade war is affecting the Chinese economy.
TECHNICAL ANALYSIS
"We started the week with a calm Ibex and no man's zone, far from the support area of 9,440-9,450 points and the resistance of 9,985-10,000 points", explains the technical analyst of 'Bolsamanía', José María Rodríguez . The expert notes that there are numerous resistances for the Ibex between 9,985 and 10,080 points (downward guidance).
"The only problem that I see in the short term to the market is that we have the stock exchanges of the Old Continent to little more than 1% of levels of important resistance, which could end up taking us down before the possibility of failing in the attempt ", says the expert. "We need European stock exchanges, like the Ibex 35, to break up strongly and in the very short term," says Rodríguez, adding that, otherwise, "we can only think that the rebound of the last few weeks has been that, a simple rebound within a major corrective phase. "
By values, the analyst emphasizes Santander, and considers that "it is advisable not to lose sight of the supports" that it presents at 4.45 euros. It also refers to the supports of BBVA, at 5.8 euros. "As long as these are not drilled, it does not seem that the correction can go much further," Rodriguez concludes.
