The Ibex celebrates annual highs on the anniversary of its biggest historic fall

The Ibex will close this Friday a very positive week in which, waiting for what happens today (at the moment it falls slightly, at 8,570 points), it accumulates increases of 3.70%. On Monday it managed to break highs for the year in the heat of good news from the US (the approval of the stimulus plan and the elimination of tariffs with the European Union), and has been setting highs one day after another on its way to the next technical resistance, at 8,683 points.

"After exceeding 8,439 points, it seems very likely that we could end up seeing an attack at the 8,683 point level. If it manages to get past these prices, it is very likely that we can witness an attack at the 9,000 point level. Below, the first level of support is at 8,239 points ", explain the technical experts of Bolsamanía.

Therefore, the Spanish index celebrates the anniversary of its debacle in the stock market (on March 12 of last year it registered the largest daily fall in its history, with a collapse of 14.1%) strong, with the desire to continue advancing and at highs of the year.

The movement of the European Central Bank (ECB) this Thursday, which has announced more purchases of bonds to face the rise in inflation and bond yields, has pleased the stock markets, which ended up positive in Europe yesterday after the ad. It also helps today that Joe Biden has made a commitment that all adult Americans have access to the Covid-19 vaccine beginning May 1. In general, there is a feeling that things are more 'ordered', that we are moving in the right direction. However, the European indices remain calm this Friday, falling in a contained way and consolidating levels.

FROM THE CPI TO THE AID PACKAGE

This Friday, the February CPI was released in Spain and Germany (it rose 1.3%, in line with expectations), while the United Kingdom published its GDP for January (fell 2.9%). In the euro zone, industrial production for January is announced and the United States highlights the consumer sentiment index from the University of Michigan.

On the other hand, the Council of Ministers today is holding an extraordinary meeting to approve aid for SMEs and the self-employed. The Government will allocate a total of 7bn.

In addition, in Spain the complicated political situation is still in focus after the break between Ciudadanos and the Popular Party, waiting to see if it will finally be possible to vote in the Community of Madrid.

MORE CENTRAL BANKS

Investors are already looking to next week, when there will be a Federal Reserve rate meeting (Wednesday) and a Bank of England rate meeting. After the movement of the European Central Bank, the foreseeable thing is that the Fed will also make some concrete announcement to face the increase in inflation and interest on bonds.

Remember that Jerome Powell's last public appearance was last Thursday and that then, despite acknowledging the upward pressure on prices, he did not offer specific solutions, and the indices did not like that.

OTHER MARKETS

The euro trades at $ 1.1942. Oil is down 0.5%, with Brent at $ 69.35 and West Texas at $ 65.67.

Gold and silver also recede. The first is at $ 1,705 and the second at $ 25.68.

Bitcoin gives way slightly, to $ 57,208, after setting new all-time highs in recent hours, and Ethereum does the same, to $ 1,809.

The yield on the US 10-year bond rises to 1.598%.