The Ibex collapses and leads the falls in Europe after dropping 2.3% in the week

The Ibex 35 increased losses and fell 1.8%, to 8,219 points. Investors already know about Joe Biden's stimulus plan, which has been valued at $ 1.9 trillion. However, the anticipation of these stimuli does not counteract the negative sentiment of Covid-19, which continues unchecked in Spain and in the rest of European countries, as well as in the US.

At the business level, Bolsamanía published this Friday that Telefónica "will continue to sell towers" of telecommunications to clean up its balance sheet and boost the price of its shares.

The most bearish stocks, with falls of more than 2%, are Siemens Gamesa, Indra, Sabadell and CaixaBank.

In addition, investors already know the results of JP Morgan Chase, Citigroup and Wells Fargo. American banks have outperformed forecasts with their profit, but Citi and Wells Fargo's revenues have disappointed.

On the other hand, the pharmaceutical company Pfizer has announced that it will reduce shipments to Europe of its vaccine against Covid-19, which it has developed together with the German BioNTech, during the end of January and the beginning of February. All of this with the aim of increasing production from the middle of next month.

On the economic agenda, inflation in Spain closed the year with a negative rate of -0.5%, after rising 0.2% in December in December. In addition, December retail sales in the US have been considerably worse than expected, which shows that the stimuli are much needed. The January consumer confidence, compiled by the University of Michigan, is yet to be released.

Wall Street closed with slight falls and at the close of the European market it is falling by 1%, considering that the new stimuli from Biden will boost economic growth, but will also weaken the country's fiscal position, by further increasing its public deficit, since does not include tax increases. "It's been a case of buying the rumor and selling the news," says David Madden, analyst at CMC Markets.

In Asia, a slightly bearish day in the main markets, with a negative role for Xiaomi. The mobile company has collapsed because the US has included it in its business 'black list' along with other Chinese companies.

On a strategic level, JPMorgan AM analysts continue to view the market constructively, but do not hesitate to point out three major dangers that threaten our portfolios: the evolution of the pandemic and the effectiveness of vaccines, the trade war between China and the United States and the possible withdrawal of stimulus from central banks.

Regarding the 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 falls 1.8% to $ 55.41, while the euro depreciates 0.1% and changes to $ 1.2142. Furthermore, the profitability of the 10-year Spanish bond is trading at 0.07%.