It has taken its time, but Ibex has managed to keep the 8,800 points on Tuesday. The Spanish index has remained below this level for much of the session, although it has finally reduced losses to 0.07% to stands at 8,809 points. On the other hand, the rest of European exchanges have registered losses of more than 0.4%, in the middle of the perfect storm that has been unleashed in the United Kingdom, less than two months from the Brexit date.
- 11.574,900
- -0,32%
Especially prominent this Tuesday is the behavior of the pound. The British currency has perforated the $ 1.20 strip, almost a three-year low, not seen since the 'flash crash' of October 7, 2016.
The British currency has touched the $ 1,1992, from where it has bounced moderately to $ 1,2016, and then back down to the $ 1.19. Against the euro, it changes hands at 0.9310 pounds, less damaged by the weak panorama of the community currency. The news that British Prime Minister Boris Johnson is considering calling early elections as soon as Wednesday have fueled the gloom surrounding the currency.
Back in the Ibex, the selective fails to advance towards the resistance of 8,900 points. "Today we have no return figure that indicates that the correction has come to an end, although it is true that the rest of our European neighbors have a better technical aspect," said José María Rodríguez, analyst at Bolsamanía.
At the business level, we talk about Inditex (-0.4%). The textile giant has had kill the speculation spilled in the Chinese state press that its flagship brand, Zara, supports protests against the Beijing government in Hong Kong. This Monday, its stores in the city remained closed during a new day of demonstrations.
The benchmark of the island, the Hang Seng, has finished the flat day, with a fall of 0.1%, while in mainland China, Shanghai (-0.05%) and Shenzen (+0, 33%) have finished with moderate earnings. Still in Asia, the news goes through the Reserve of the Bank of Australia, which has kept the rates at 1%, after the June and July cuts. The ASX200 has yielded 0.22%.
This Tuesday, analysts also follow other macro references, such as the publication of unemployment data in Spain, which rose by 54,371 unemployed in August, its biggest rise this month since 2010, when it increased by 61,083 people. Finally, it should be noted that, in Spain, Pedro Sánchez has presented a program, with 370 measures, to try to reach an agreement with Podemos, an agreement that, today, seems unlikely.
