The Ibex 35 (+ 0.14%) has closed a new flat day although it continues to offer good sensations in the short term after overcoming resistance last Friday. Although it is consolidating levels in recent days and the coronavirus pandemic remains uncontrolled, investors expect positive catalysts, such as the new stimulus that Joe Biden plans to announce this Thursday.
- 11.656,600
- 0,39%
At the business level, profit collection at Telefónica after selling its telecommunications towers to ATC for 7bn euros and increasing almost 10% last session.
In addition, DIA posted a 5.6% drop in its fourth quarter sales to € 1.6bn, although its comparable sales rose 7% during the period.
The most bullish stocks have been Merlin Properties (+ 3.03%) and IAG (+ 6.48%), although the most bullish 'blue chip' has been Inditex, which has advanced 2.09% after the problems of its rival, Primark, due to the closure of its stores in the United Kingdom and its lack of online sales.
Regarding the evolution of Covid-19, several European countries such as Portugal, France, Germany and the United Kingdom have applied strong restrictions, while in Spain several communities have also done so, since the accumulated incidence is increasing rapidly.
Wall Street closed a day with little movement (Dow Jones -0.03%; S&P 500 + 0.23%; Nasdaq + 0.43%) while the House of Representatives approved the second impeachment against Trump.
American futures anticipate a mixed sign waiting for Joe Biden to announce a new stimulus plan that may be valued at about $ 2trillion, although analysts anticipate that the final figure approved by Congress at first will range between 600,000 and the 900bn dollars.
On the economic agenda, China's exports and imports in December have been published, which have exceeded forecasts. Exports rebounded 18.1%, above the 15% expected; and imports 6.5%, compared to the 5% anticipated.
In addition, Germany's GDP contracted 5% in 2020, its biggest drop since the 2009 crisis; and labor data in the US are yet to be published. On the other hand, Jerome Powell, president of the Fed, will give a talk at Princeton University starting at 6:30 p.m., Spanish time.
At the strategic level, "very attentive if an increase in inflation expectations is transferred to bond yields, because the markets are expensive and supported by low interest rates," as Tressis has warned for 2021. "There may be very important volatility peaks ", said José Miguel Maté, CEO of the manager.
Furthermore, Goldman Sachs has anticipated that stocks will "take a breather" in the short term. That's how blunt the bank's chief economist, Jan Hatzius, has been. The correction of which the expert warns would take place after the maximums registered by Wall Street last week.
By technical analysis, the Ibex "continues to consolidate levels after overcoming the key resistance of 8,322 points. Its technical aspect is good, since the selective is shaping a bullish continuation figure", affirms César Nuez, analyst at Bolsamanía.
"For the next few days," adds this expert, "everything seems to indicate that we could end up seeing an extension of the gains to the 9,000 point level. The first support level is at 8,200 points. As long as it remains trading for the 9,000 point level. above this price level we will not appreciate even the slightest sign of weakness in its price series. "
In other markets, Brent oil rose 0.2%, to $ 56.17, while the euro fell in value 0.1% and changed to $ 1.2144. In addition, the profitability of the 10-year Spanish bond is trading at 0.07%.
