The Ibex (+ 1.3%) rebounds 2.2% in the week and wins back the 9,300 points

At the corporate level, the stocks that have risen the most were Inditex (+ 3.4%) and Telefónica (+ 2.2%). The parent company of Zara has recovered ground after it fell with the presentation of its results, while the telecommunications operator has made the headlines because the Treasury will return 700m euros to it for overpaying in its Corporation Tax.

For its part, Santander (+ 1.4%) caresses the significant resistance of 4.40 euros, while Aena (+ 1.2%) has obtained the concession of six airports in Brazil for 437m euros.

BBVA has also played a leading role (+1.6%)%, despite the fact that it has had no choice but to ask Francisco González to "temporarily" move away from the honorary presidency while the investigation is resolved.

The bank has held a shareholders' meeting in Bilbao and everything has revolved around this issue. Luis del Rivero, the former president of Sacyr who allegedly spied by BBVA between 2004 and 2005, has described as false the version that Francisco González offers about the bank's attempted assault on the entity to take control of it in those years.

On the side of the falls was the main figure Ence (-5.7%), which has estimated at 185m euros the impact of the "unlikely" halt of activity of its factory in Pontevedra, after the State desisted from defending in the National Court the extension of the concession, granted by the Government of the PP in office in January 2016.

The rest of European stock exchanges also closed with gains, although lower than 1%, after the Single House of Commons ended a week of intense activity with an agreement to request an extension of Brexit to the European Union.

Thus, Parliament asked the Government of Theresa May to request an extension of Article 50 of the Treaty of Lisbon, which regulates the 'divorce' scheduled for March 29. The amendment was approved by 412 votes in favor and 202 against and consists of requesting an extension until June 30 if the May agreement is approved before March 20 or seeking a longer extension if the agreement is not approved. The EU must approve this extension at the summit scheduled for March 21.

In other markets, Brent oil fell 0.5% to $ 66.86, while an ounce of gold rose 0.5% to $ 1,302. For its part, the euro increased in value 0.25% to $ 1.1325. In addition, the Spanish risk premium decreased by 1%, to 111 points; and the yield of the Spanish 10-year bond is slightly relaxed to 1.19%.

CHINA AND THE USA, AGREEMENT IN THREE OR FOUR WEEKS

The attention of investors also goes to trade talks between China and the US, after this Thursday US Treasury Secretary Steven Mnuchin confirmed that there will not be a summit in March between the presidents of the United States and China, Donald Trump and Xi Jinping. The trade agreement needs more time for negotiations and Mnuchin has pointed out that the parties are "working in good faith" to try to reach an agreement "as quickly as possible".

The US president, for his part, has specified that he hopes to know if there will be such a commercial agreement within three or four weeks. The Republican, in addition, has added that the Asian giant is being "very responsible and reasonable." The markets, especially the Asians, have also been spurred by the good mood of Beijing, which is taking steps to please Washington.

Specifically, this morning, the second world power has approved legislation clearly aimed at smoothing the path towards a trade agreement. The new law prohibits the forcible transfer of technology by foreign companies, which has been a major complaint of the United States and other countries.

The Asian stock markets have finished with advances of 1% on average in the main parks, the day in which the Bank of Japan has also announced its monetary policy decision. As expected, the Japanese supervisor has kept interest rates unchanged, but its governor, Haruhiko Kuroda, has tempered his optimism about the progress of the economy, especially in regard to exports. He has also pointed out that global risks threaten to derail the weak economic recovery. All in all, the Nikkei has risen 0.77%.

In addition, this Friday is the first four-hour witch of 2019, and the options and futures on indices and stocks have expired both in Europe and across the Atlantic, which is often translated into a day of high volume of negotiation.

TECHNICAL ANALYSIS OF THE IBEX 35

By technical analysis, "the sensations are not all bad because we already have the stochastic moment oscillator trying to turn upwards from oversold levels." In other words, at the end of February we were at the same level but overbought and now we are oversold, "says José María Rodríguez.

"That is to say, it is now easier for us to attack resistances successfully than a few weeks ago, but we insist, we will not trust movements until Santander does not break above 4.40 euros and if, in addition, it could be with Telefonica above 7.85 euros, even better ", concludes this expert.