The Ibex bounces back strongly and is close to getting the 10,000 points back

Siemens Gamesa, that was the only value in green yesterday, has followed its rising tendency and has been the company that has registered the highest rise in the Ibex, thanks to an advance of 5,45%. In the high part of the table Bankinter, that has risen in value a 3.49% and Mediaset that has gone up 3.2%.

This Wednesday has been a results day. In Spain many companies have presented their results. Gas Natural Fenosa has announced an improvement of 1% in their profits of 2017, up to 1.3bn euros. The energy company has risen a 1.24% up to 17.84 euros. Liberbank, on their part have lost 259m of euros in 2017 after placing 600m in improving the company, although it has closed with a 9.05% rise in the main board. Abertis on the other hand has increased its profits by 13% in 2017 and has gone up a 0.46%. Also Saeta Yield, has risen a 6.4% after the opa sent by the Brookfield fund at 12.2 euros per share.

On the other hand only two values have closed in red. Acerinox has dropped a 0.13% and Dia a 0.25%. In the blue chips of the Ibex there has been good behaviour. The rise in Telefónica of 2.5% and two of the biggest banks, Santander and BBVA that has gone up a 2%. Inditex on the other hand has only gone up a 0.45%.

Meanwhile from the technical point of view, the experts at Bolsamanía insist in the idea that the key point of the Ibex is to close the week over 9,900 points. “It could be that the Ibex closes the week over 9,900 points which means everything remains the same, with a lateral movement that we have been seeing since the summer”, they point out. In any case the 10,600 resistance level that the Ibex tried to go over last week are very far away now.

OTHER MARKETS

All in all, volatility has become the main character for the markets. The VIX index fell the last session a 19% after having risen the day before over 100%. Now it’s placed at 21 points. Some analysts warn that the awakening of volatility, that has been so calm last year could worsen the scenario.

“After a long period of calm, we are now facing a high volatility phase. But even volatility represented by the VIX index shows instability. The day before yesterday, Monday, it went up by 115.6% to 37.32, yesterday, Tuesday it went up over 50 it’s highest level since August 2015 and then fell to 22.42. It went back up over 45 and relaxed again to 35 “ says the experto Ramón Morrell from ETX Capital.

The rest of European stocks now have tried to recover from the great falls on Tuesday, and has closed with generalized falls close to 2%. The FTSE 100 has risen a 2.33%, the CAC 40 has increased a 2.03% and the German DAX30 a 1.97%.

On the other side of the Atlantic, at the close of the stocks here, Wall Street listed rises of 1% after the 4.6% plummet on Black Monday, its greatest fall since 2011. The Dow Jones bounced back 2.3% (biggest fall since 2016), in a session dominated by volatility and nervousness where the operators where the main characters.

In other news, Angela Merkel and Martin Schulz have closed an agreement to form a coalition government. Also, the government has confirmed Luis de Guindos will be the next candidate to the vice presidency of the ECB. Also the European Commission has improved the economic prediction for Spain for 2018, a growth of 2.5% up to 2.6% despite Catalonia.

Also there has been a ECB meeting (non-monetary) and Sabine Lautenschläger, member of the executive committee has warned British banks that the time to guarantee access to the EU is running out. Also William Dudley and Charles Evans, members of the Fed will speak. As the atmosphere is a bit tense with the possibility of the central banks of taking away incentives and increasing the rates quicker - the reason of the plummet - these meetings will be followed carefully.