- The Spanish index has gone from more to less during the session, but has been able to maintain the 9,800 points
- Caixabank has been accused money laundering from the Chinese mafia
- The rest of the stock exchanges of the Old Continent have registered little movement
The Ibex has closed practically flat while looking for 9,900 points. The selective has risen 0.11% to 9,868 points, in a session that has gone from more to less, but has been able to stay above the 9,800 points that already got on Tuesday. The first immediate resistance is now at 9,940 points and the 'fat' at 10,210 points.
- 11.588,400
- -0,74%
Melia Hotels has been the red lantern of the session with a fall of 2.29%. It has accompanied him in the lower part of the Indra table, which has dropped by 1.4%. Among the worst values has also been DIA, which has fallen 1.23% to 3.7 euros, while investors wait for the shareholders meeting. This Thursday, experts from Deutsche Bank have reiterated their buy recommendation and have pointed out that the two main issues that will have to be seen in the presentation of results are the Iberian margins and the competition.
Two of the five 'heavyweights' of the Ibex have also closed with falls. In the case of Inditex, the textile company has lost 1.32% to 24.62 euros, which has made it the third worst value of the session. For its part, Iberdrola has fallen 0.73%. While the two most important banks of the selective, Banco Santander and BBVA, have closed with increases of 0.7% and 0.4%, respectively.
On the other hand, another of the banks of the Ibex 35, Bankia, has been the best value of the Ibex, with a rise of 2.2%. Bankinter followed with a 1.9% rise. In the third place, Técnicas Reunidas has been located, which has revalued 1.86%.
However, this session has to talk about Caixabank, since the judge has charged it with money laundering of the Chinese mafia. The National Court investigates alleged favoring, assistance and concealment of funds from Chinese clients by the entity. However, the entity has denied "any kind of collaboration or participation" in money laundering crimes allegedly committed by citizens of Chinese nationality. Their shares have risen 0.25%.
In the presentation of results, this Thursday Mediaset has rendered accounts before the market. The company reported a profit of 53.2 million euros in the first quarter, 12% less. However, they have been above what was expected by analysts, so it has risen 0.64% on the Ibex 35.
He has also presented his accounts as his main competitor. Atresmedia has earned 21 million euros from January to March, 26% less. The company's net income has also fallen by 2.7%. These data are in line with the consensus of analysts. The company's shares have risen by 0.4% in the main board.
OTHER MARKETS
Oil has been one of the protagonists of the session. The barrel of Brent, a benchmark in Europe, rises more than 1% to $ 74.31 and already accumulates a 15% increase so far this year. The Brent has touched the $ 75 and has renewed its highs of November 2014. For its part, the barrel of West Texas, reference in the US, quoted with increases of 0.74% to $ 69.
Michael Hewson, chief analyst at CMC Markets in London, draws attention to the rise in metal prices on concerns that other producers could join the list of US sanctions on Russian companies. "The prices of nickel, aluminum, copper and platinum rose strongly, while oil prices also reached three-year highs amid reports that Saudi Arabia would not be dissatisfied with oil prices in 100 dollars in order to carry out the IPO of Aramco, "says this expert.
On the other hand, the rest of the stock exchanges of the Old Continent have also registered little movement and have closed mixed. The CAC 40 of France has gone up 0.3% and the FTSE 100 of London, 0.18%. The German DAX 30 has been left 0.18%. For its part, Wall Street recorded moderate declines while business results continue. In the currency market, the euro falls slightly 0.13% in its change against the dollar and stands at 1,236 'greenbacks'.
For its part, the International Monetary Fund (IMF) said on Wednesday that governments around the world should take measures to try to reduce their indebtedness. The Washington-based institute said lawmakers should try to build buffers and reduce levels of public debt in order to address the "challenges that will inevitably come in the future." The G20 finance and economy ministers meet on Thursday, while the IMF and World Bank meetings are held on Friday and Saturday.
TECHNICAL ANALYSIS
"Our selective closes practically flat and far from the maximum of the day.The only thing to highlight the fact that we have marked a maximum in the session at 9,902.7 points and from there we have turned to the downside", says José María Rodríguez , technical analyst of Bolsamanía. In this way, he points out that we must not forget that we have an important resistance at 9,940 points. And above and more relevant 10,210 points, where we have an important weekly bearish hole.
"The danger we see in the short term is in the rally that the European stock markets, which accumulates an average rise of 8% since the end of March, and this movement has occurred almost without breaks", explains the analyst. What leaves the door open at any time we take a little scare to serve as an excuse to correct / adjust the significant increases accumulated in recent weeks. "By values we continue to see strength in the banks while Inditex and Telefónica fully wake up," he clarifies. Without these two engines it is complicated that the increases in our selective are consistent. "Pay attention also to the profitability of the ten years bonds in the United States, which is dangerously close to the psychological figure of 3% profitability, what could be achieved as an excuse to correct the excesses of the last month", concludes the expert.
