The Ibex fails to regain the 9,800 points in a session without frights

Back to the Ibex, Técnicas Reunidas was the red lantern of the session, with a fall of 1.65% to 24.37 euros. Acciona has become the second worst performer after leaving 1.6% and the third position has been for Cellnex Telecom, which has fallen 1.2%.

This Monday we also have to talk about Telefónica. The 'teleco' has dropped 0.16% to 8.14 euros while waiting for the shareholders meeting of Telefonica Argentina and thus request their authorization to make a public offering. Telefónica controls 100% of this subsidiary, which last year contributed 6.7% of the group's total revenues. José María Álvarez-Pallete, the company's president, is "analyzing different options to value his asset portfolio" and ending once and for all the problem of high debt.

On the other hand, Aena has been the value that registered the highest rise, 1.16% to reach 174 euros. IAG followed, with a rise of 0.93%. The air holding company continues its escalation since it announced, last week, that Norwegian is an "attractive investment". IAG has convinced the market of the importance of the operation.

Among the heavyweights, BBVA has risen by 0.4% to 6.4 euros; Banco Santander, 0.54% up to 5.4 euros and Inditex has revalued 0.5% to 24.68 euros. On the other hand, Iberdrola has dropped 0.9%.

In the Continuous Market, Duro Felguera was news this Monday, which rose by 3.63% to 0.3 euros. The company continues to wait for the 'yes' of the banks to extend its financial truce. On the other hand, OHL has advanced 2.4%, to 4.1 euros. The company carries out an update of its business plan this month in which it will value its strength as a construction company.

OTHER MARKETS

However, on Monday the eyes are in the US. Wall Street is trading with 0.5% increases on average, after the US attack on Syria. Donald Trump has complied with his threats and has bombarded several strategic objectives in Syria over the weekend, in alliance with the United Kingdom and France. The United States has said that on Monday it will announce new sanctions against Russian companies "related to chemical arsenal" Syrian. For its part, Russia has accused the United States of helping terrorism in Syria with the bombings while Vladimir Putin is studying a response with Bashar al Assad.

"This week the engines of the markets will be the geopolitical tension related to the US attack on Syria and the possible reaction of Russia, as well as the development of trade tension between the US and China," says Ramón Morell, ETX Capital strategist. "In the US will also influence, as usual, what Trump manifests through his messages on Twitter," he adds.

The rest of the stocks of the Old Continent have also closed in red, with slight falls. In the case of the FTSE 100 in London, the falls have been a little more bulky, of 0.72%. In this market, we must talk about WPP, which has left something more than 6%, after the resignation of its CEO and founder, Martin Sorrell, after an accusation of "inappropriate behavior". For its part, the DAX 30 of Germany has been left 0.4% and the French CAC 40, 0.13%.

Regarding the currency market, the euro rose 0.2% in its exchange rate against the dollar to 1,237 'greenbacks'. Oil falls by 1.3% on average, weighed down by the uncertainty of geopolitical tension. In the case of the Brent barrel, a benchmark in Europe, 1.2% is left until 71.74 dollars. For its part, the barrel of West Texas, reference in the US, is left by 1.3% to 66.5 dollars.

TECHNICAL ANALYSIS

Another session of very low volatility where the prices have moved in little more than 40 points between the maximum and the minimum of the day. "Otherwise everything is the same," says José María Rodríguez, technical analyst at Bolsamanía. The short-term moment oscillators are 'overbought', which together with a rally of 6-7% since the end of March leaves the doors open so that we can attend at any time to a short-term correction. "But it is also true that the Ibex has also shown us that it is not for the work of correcting, so that in the end we do not look for support or attack resistances and so we have more than a week," adds the analyst.

But is that even when we left behind the resistance of 9,800 points the truth is that "there would be no great changes." Why? Because there are many resistances that we have above, like the 9,940 points and the 10,210 points, where we have an important weekly bearish hole. "Which means that even if we continued to climb positions we should walk with caution," he says. Even more so when this Monday has been shown again (and there are already two) that the great European futures (Dax and Euro Stoxx 50) can not at the moment with the important resistances that it presents at 12,500 and 3,390 points respectively. "In theory above these resistances we would have important signs of strength that in turn could be giving shape to potential figures back in" double ground "", concludes José María Rodríguez.