After a week last of generalized falls of around 1% in the main stock markets, the Ibex has rebounded 1.96% and Europe has risen with enthusiasm this Monday after Brussels will approve this Sunday the Brexit agreement and after knowing that Italy is studying to reduce its controversial deficit target.
- 11.435,700
- -0,28%
The selective was at the door of the 9,100 points, driven by great values such as Telefonica, which has been the most bullish of the day with a rise of 4.4%. The Economist published on Monday that the telecommunications company chaired by José María Álvarez-Pallete negotiates the sale of assets in Central America and Mexico, for which it could get some 2bn euros.
The banking sector also closed with significant rises, led by the two main entities, BBVA (+ 3.4%), which led an investment of approximately 8 million dollars of its chatbot in the US, and Santander (+ 2.9%). Bankia closed with a rise of 2% as the oral trial regarding the company's IPO in 2011 started.
Técnicas Reunidas managed to close as the second most bullish value of the day with an increase of + 4%. On the other end of the selective, DIA (-2.6%), Grifols (-0.6%) and Red Eléctrica (-0.3%) were the only values that closed in red.
RISES IN EUROPE
All major European exchanges closed on Monday with increases, highlighting the Italian Stock Exchange which rebounded by 2.8%. The French CAC 40 (+ 1.1%), the German DAX 30 (+ 1.5%) and the London FTSE 100 (+ 1.3%) also closed in green after the losses suffered last week.
The optimism with which Europe has received this week is due, in the first place, to the agreement reached on Sunday on the Brexit agreement. However, although the agreement has received the support of the European Union, it must still pass through British Parliament. Members of the Labor Party, the Scottish National Party and the Liberal Democrats have already said they will vote against it. The pound remains relatively calm after the ratification of the pact was confirmed, something that was expected despite last-minute doubts about Gibraltar.
The other news that had more weight in the development of the day in European markets has been that the Italian Government will meet tonight to discuss the possibility of cutting its controversial deficit target of 2.4% for 2019. Italian risk premium falls 7% and all banks of Ftse MIB have shot up strongly.
CHANGE COULD BE ON THE HORIZON
In the opinion of the Bolsamanía analyst José María Rodríguez, it was a cracker start to the week for theIbex and the stock markets of the Old Continent. However, the technical analyst has a single 'but': "The bullish gap left in the opening at 8,917 points, a gap that as we know can be filled, at least partially, in the coming days."
Rodriguez admitted that "although there is no confirmation of anything, something may be starting to change." For the analyst, "the two pillars on which the Ibex has been leaning on in recent days and as we have already commented a few days ago (Telefónica and Inditex) continue to be strong, although on Monday, the increases have been led, mainly, by the push by the banks due to the contagion effect of the Italian banking that goes up by 5% on average ".
Rodriguez sent a message of caution after the raises today. "In any case, we cannot celebrate yet, what we have in the daily chart is seven impeccable maximum decreases since May, which means that if we want the Ibex 35 to start doing something different from what we experienced in the last months, at least it should be able to build a first ever rising maximum, or what is the same, it should try to jump over the resistance of 9,232 points, and above that we have the bearish directrix, in the 9,360 points. Let's go step by step".
WALL STREET RETURNS TO NORMALITY
Outside of Europe, all eyes are set on this week's meeting between Donald Trump, the US president, and Xi Jinping, the Chinese president, which will take place this weekend. There is much expectation for what may happen in this meeting, waiting for an improvement in trade relations between the two powers. However, at the same time there are doubts of their capability of reaching a relevant agreement that serves to solve the current situation between both countries.
Wall Street returns to normal today after opening last Friday only half a session for 'Black Friday' and rises after the falls (Dow Jones: -0.73%, S & P: -0.66%, Nasdaq: -0, 48%) with which it closed last week. This Monday it's 'Cyber Monday', a day dedicated to shopping online taking advantage of discounts. As for the Asian stock markets, they have risen in value with some strength this morning.
As for other highlights in this first day of the week, oil is news again, which rebounds over 3% on Monday. This, after marking last week new annual lows below 60 dollars. At this time Brent is trading at 61 dollars and West Texas at 52 dollars.
