- Indra collapses 12% after posting quarterly results
- Telefonica posts moderate gains to salvage 8 euro mark
The Ibex 35 has closed the day's session with further slight gains, supported by the positive reaction of big market movers such as Repsol, BBVA and Santander. Telefonica also managed to hold itself above 8 euros with gains on Tuesday.
- 0,317€
- 0,00%
- 11.711,800
- 0,47%
- 16,570€
- 0,30%
- 11,885€
- 0,25%
On Tuesday the companies which rose the most were Cellnex and Técnicas Reunidas, which climbed 4.2% and 3.11% respectively. On the other hand, the stocks which dropped the most were Indra (-12.09%) and Banco Popular (-2.86%).
Popular and Telefonica find themselves in much the opposite situation. Only months ago it was Dia which found itself in a precarious position in the market, but now the aforementioned stocks find themselves under serious pressure.
The update of the standings of the Comisión Nacional del Mercado de Valores (CNMV) has left little doubt, more losses are expected for both Telefonica and Popular. Never before has investor pressure been so great on the two companies.
On the positive side, Repsol rose 2% after a day in which oil prices bounced following several days of losses and the news that OPEC will reach an agreement to reduce production.
In the realm of monetary politics, the US Federal Reserve continues to act with caution after the recent election of Donald Trump as president. Analysts believe that Trump will introduce a fiscal stimulus package that will definitively allow the central bank to raise its interest rates.
In Europe it has been a day loaded with data releases. The first came from Germany, where its GDP has grown 0.2% for the third consecutive sector, just less than what was expected for the quarter. The CPI of France (0%), Spain (0.7%) and then the UK (0.9%) were all released.
From a technical point of view, Bolsamanía analyst José María Rodríguez said the Ibex is still in a position of weakness.
"We remain wary of the 8,540 mark, which is where we would reach a critical point. The problem is that to have the first sign of strength, technically speaking, we need to see a level between 9,040 and 9,054 points, and we are quite far away from that," pointed out Rodriguez.