The Ibex rises 1.2% in the week and caresses the 9,900 points

DIA was the value that registered the highest rise of the Ibex 35, of 2.16%. The company has held its shareholders' meeting on Friday, which approved the expansion of the number of board members to twelve. In this way, responds to the fund of Letterone, the Russian millionaire Mikhail Fridman, with the entry of Karl-Heinz Holland, excee of Lidl, and Stephan DuCharme, chairman of the board of X5 Retail Group.

In the upper part of the table it has been accompanied by Gas Natural, which has been revalued by 1.72%, and Endesa, which has risen by 1.1%. This Friday we must also talk about Telefonica, which has been one step away from breaking its resistance of 8.25 euros after rising 0.77% to 8,249 euros. Among the 'blue chips' has also risen BBVA, 0.92%, and Iberdrola, 0.38%.

On the other hand, Mediaset has fallen 0.95% and has been the worst value of the Ibex 35. It has followed Bankinter, which has yielded 0.92%. Amadeus was the third worst performer, with a drop of 0.9%. For its part, Banco Santander closed with a 0.05% increase, despite having been almost the whole session with slight falls, while Inditex has left 0.53%.

In the main board, Sniace has shot up 6.1% after approving a capital increase of 30 million euros. This operation was part of the company's Strategic Plan for the years 2018-2020. The group also approved the re-election of Antonio Temes Hernández as a director for a term of four years.

On the other hand, Gestamp has dropped 1.32% after successfully completing a new offer of senior bonds for an amount of 400 million euros, with maturity in 2026 and an annual coupon of 3.25%.

Next week will be full of references likely to move the stocks, especially the Spanish ones. We will have to see if there are more news about the United States and its relations with Russia or China but, above all, there will be a real rain of results in Spain, of companies as important as banks or Telefónica (which will clearly move the Ibex) and, in addition, , we will live our particular 'super Thursday’, with the figures of Telefónica, Sabadell, Bankinter ... and the meeting of types of the European Central Bank (ECB).

OTHER MARKETS

In the commodities market, crude oil prices remain close to multi-year highs after rising to their highest level since the end of 2014. Brent crude crude trades at almost $ 74 driven by the reduction in world supply . The Brent already accumulates a 15% increase in the year. However, this Friday, it is trading with moderate falls. In the case of Brent, the drop is 0.43%, to 73.45 dollars and in the case of West Texas, the benchmark in the US, the drop is 0.34%, to 68 dollars.

Donald Trump, president of the United States, has attacked oil prices through Twitter. On this occasion, the president of the United States has attacked OPEC and the "high prices" of crude, which he considers "artificial" and states that: "They are not good and will not be accepted."

The rest of the bags of the Old Continent have closed are mixed sign. The German DAX 30 was again the only index that closed in red, with a fall of 0.21%. For its part, the FTSE 100 in London has been revalued by 0.54% and in the case of the CAC 40, which has risen by 0.39%. Wall Street is trading with moderate falls, burdened by Apple, which is down 3% because Morgan Stanley has indicated that it will sell fewer iPhones.

At the macroeconomic level, the International Monetary Fund (IMF) has indicated that the uncertainty about Catalonia does not represent a predominant downside risk for the outlook for the Spanish economy, which this year will grow by 2.8% and the next by 2, 2%. The director of the Department for Europe of the International Monetary Fund (IMF), Poul Thomsen, explained that "Spain is doing things right", although additional reforms are necessary.

TECHNICAL ANALYSIS

The Ibex 35 closes the accumulated of the week with rises slightly above 1% and relatively close to the significant resistance of 9,940 points. Above this the next and most relevant is the 10,210 points, the weekly bearish hole at the beginning of February. "But if we have to keep something of everything that happened, I would look at the European indexes, specifically in the two major futures (Dax and Euro Stoxx 50)," explains José María Rodríguez, technical analyst at Bolsamanía.

These have confirmed in potential weekly candles back formations that can end up taking us to the area of ​​annual highs, which were reached at the end of January. While it is true that our Ibex is weaker than our neighbors I want to think that at some point it will end up closing that gap. For this we need support, mainly from banks, as well as from Inditex and Telefónica. The latter has closed just in the resistance zone, at 8.25 euros. It is true that points well for the operator (which publishes results on Thursday), points good manners. But we still need to close clearly above 8.25 euros, in which case we will consider the most probable scenario a visit to the resistance of 8.6 euros. "In summary, although the rises have not been important, the sensations in general are good, especially since we have all the minimum and maximum European indexes increasing since the end of March, and this is not the case", concludes the expert.