• Markets remain lateral and calm at the beginning of summer
  • El BCE ve necesario señalar que puede ampliar las compras de deuda

The Ibex moderated its losses in the final trades of the day and closed at 10,498 points with a loss of 0.24%. The doubt about whether it will respect the support that is now at 10,380 points continues. The rest of the European markets also saw losses close to 0.5%.

IBEX 35

  • 11.659,200
  • 0,35%

Banco Santander began the day with a capital injection of 7bn euros. The shares of the Cantabrian bank registered gains of 0.89% at 5.876 euros, while the rights rose 7.22%.

The most significant stocks of the day were Bankia (+1.77%), Tecnicas Reunidas (+1.66%) and IAG (0.97%). The shares of Ferrovial fell 4.07%, Mediaset 3.45%, after JPMorgan reduced the target price of the audiovisual company to 9.4 euros and DIA by 2.80%.

Spanish 10-year bond yields rose 1.661%, something that has not happened since April. Among the documents released by the European Central Bank considered necessary pointing out that it remained available to increase the debt programme in order to bring inflation to 2%.

Investors had their eyes on employment data from ADP in the US ahead of the June employment report on Friday. The data forecast that the private sector in the US added 158,000 new jobs against the 188,000 predicted.

Regarding the Federal Reserve meeting minutes, which were published on Wednesday, several members of the body gambled towards a reduction of the balance of 4.5 billion dollars in “a couple of months”, while the others said it was better to leave it to next year.

Oil recovered on Thursday after losses of 4% in the previous session after OPEC production grew for the second consecutive month. At the close crude saw itself higher (Brent +2.26%; West Texas +2.46%).

Meanwhile, US President Donald Trump is in Poland, where he will meet with NATO allies. The meeting took place while ongoing tensions between the West and North Korea increase once again. In the Middle East, Saudi Arabia and its allies decided not to increase the sanctions against Qatar but said that the response of the state was “negative” and maintained the current sanctions.

TECHNICAL ANALYSIS

Bolsamanía technical analyst José María Rodríguez affirmed that “we still can’t force our way upward, but Thursday’s session was very interesting and leaves us with a good feeling. The reason is none other than the fact that the upward trend has been filled in from the 24 April. We can’t sing victory until we see a similar movement from the rest of Europe.”

“At midday, just when it looked like they would go in search of that gap (12,100 in the Dax futures and 3377 in CAC 40 futures), money entered the market in the support zone at the lows of last week. Once again they remained at the doors of the upward trend.”

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