The Ibex starts the week with a 1% rise and gets close to the 10,600 points

The Spanish index starts thus a week that will be marked by the publishing of the annual results that will have Bankinter as the main character.

Also, this Monday it has listed the best Spanish credit rating that the Fitch agency announced last Friday to set it in ‘A-’. In fact, the Spanish prime risk is now at 2010 levels.

THE BOOST OF THE DAY AND BLUE CHIPS

With everything, the Ibex 35 has seen itself boosted this session by a strong revaluation of the supermarkets chain DIA (+4.54%) that has been the highest riser this session after Letterone Investment increased its participation last Friday.

Siemens Gamesa has followed at the top of the table (+2.95%) and it has announced this Monday the signing of several contracts in India for the supply of 326 MW, and also CaixaBank (+2.23%).

Likewise, the blue chips or big fish of the index have all gone green this session. The highest riser was Telefónica (+1.80%) that has gone over resistances. Banco Santander was close (+1.64%), entity which Credit Suisse analysts have bet on, while they consider the rise of BBVA out of strength. On Monday it has been made known that both banks plan to place up to 26.67% of the capital of Metrovacesa, a price that is between 18 and 19.50 euros per stock.

Also Iberdrola that has gone up very lightly (0.09%) after the Norwegian king fund has strengthened its position in the company while he has reduced it in Indra and Mediaset España.

MAIN BOARD AND OTHER STOCKS

Regarding the main board, Nyesa Valores has flown back in after 6 years out. The company has kicked off at a 0.17 euros price and has finished the session at 0.28 euros (+68.24%).

ArcelorMittal (-0.28%) has published on Monday the number of consensus of the analysis of the result of the exploitation (Ebitda) for 2017. A figure that reaches the 8.3 bn dollars.

The main European stocks have also finished in green except the London FTSE 100 that has fallen slightly. The European stocks also take into account in this first session of the week the decision of the German social democratic party to say ‘yes’ to the negotiations of the party with Angela Merkel’s formation to reach a coalition government in Germany. Germany has reached the 100 days without a government and an agreement is key to guarantee the country’s stability and of the whole of Europe.

Wall Street closed on Friday with new highs, although this was before it new what was going to happen to the government. At the close of the Spanish market they show moderate earnings. The US government shutdown after the democrats and the republicans did not achieve an agreement. The US Senate will vote again this Monday. For now, Asia has been calm with moderate rises.

FMI AND DAVOS

In macroeconomics, the IMF has cut a 0.1% the projection for the Spanish growth rate in 2018 to 2.4% from 2.5%. Although it has increased the global growth rates for the next two years to 3.9%.

This Monday there is also a meeting between the Eurogroup, where a process will start to choose the new vice president of the ECB. Mariano Rajoy’s government is convinced that the role will go to a Spaniard like it has been pointed out in different occasions by the president and the Economy minister Luis de Guindos. In fact, Guindos is one of the names that may take the role which would mean his exit from the government.

As for everything else, aside from the Eurogroup meeting, the economic agenda this Monday is calm, in what is to be “the calm before the storm” of a very rocky week. This Tuesday there will be a meeting of the Ecogin, the Davos Forum starts, there will be rates decisions by the Bank of Japan and the German ZEW will be published. On Wednesday the PMI will be made known and also the German IFO. That day, Bankinter will publish its accounts in Spain. This Friday the US GDP will be published.

Two last things. On local politics, Carles Puigdemont, ex president of the Generalitat will travel to Denmark this morning where he could be arrested. The prosecution has threatened on sending a Euro Warrant for his arrest to the Danish government if he abandoned Belgium to participate in the act “Cataluña and Europe the crossroads of democracy”. And on business, DIA shoots upwards this Monday after revealing on Friday that Letterone was increasing its participation up to 15% and would sign an agreement to acquire another 10%. In the main board Nyesa has managed to rise more than 200% in its return to the park after a suspension of six years.