The Ibex rebounds strongly and recovers 8,600 points after the ECB's dovish message

The Ibex 35 has risen sharply (+ 1.61%; 8,656.80 points) and has recovered practically all the losses registered on Tuesday, when it fell close to 3%, in its biggest fall of the year. In this way, the selective is once again close to touching its annual maximums, located at 8,741 points.

Volatility has clearly increased compared to recent weeks and today progress has been imposed again, with the ECB and the start of the results of banks in Spain, in focus (Bankinter gained 13.8% more in the first quarter ).

Within the Ibex, one of the worst stocks was precisely Bankinter (-1%), although the session was clearly positive for most stocks. Above all, the increases in Siemens Gamesa (+ 7%) and Solaria (+ 7%) stood out. Renewable companies have increased in value strongly encouraged by the good forecasts coming from the Summit of leaders on the climate, which has been convened by the US and which offers good prospects for this type of companies.

BBVA, for its part, has also been among the most bullish stocks. The entity has announced its intention to lay off 3,798 employees in Spain, 12% of its workforce, in a new massive ERE in the banking sector, after the one announced by the new CaixaBank.

In addition, Santander has made headlines because it is preparing the replacement of its CEO in Spain, with the appointment of Antonio Simoes, incorporated by the entity as regional head of Europe in September, from HSBC.

LAGARDE'S MESSAGE LIKES

The European Central Bank (ECB) has decided, at the meeting of its Governing Council on April 22, to maintain the course of its monetary policy after the changes made in March, when it announced an increase in acquisitions of the purchase program of Pandemic Emergency (PEPP) during this quarter.

"As the latest information has confirmed the joint assessment of financing conditions and inflation prospects carried out at the monetary policy meeting in March, the Governing Council expects that purchases under the PEPP during the current quarter continue at a significantly higher rate than in the first months of the year, "he said.

The message from Christine Lagarde was well received. The central banker has encouraged the stock exchanges by noting that "any discussion about a reduction in PEPP purchases is premature."

Her message has relaxed the debt markets. Good proof of this is that the profitability of the Spanish 10-year bond has fallen by 4%, to 0.38%.

THE IBEX GETS CLOSER TO 8,400

The Ibex managed to hold this Wednesday in the vicinity of the support of 8,400 points, prices where it presented an upward gap that was left on March 26.

"Despite the declines on Tuesday, the bullish bias of the Spanish selective remains. We will continue to be very aware of a close above 8,740 points, annual highs. This would be a very good sign that would confirm the continuation of the increases to the level of 9,000 points ", point out the experts from Bolsamanía.

The agenda for this Thursday has left the weekly requests for unemployment benefits in the US, which have dropped more than expected; and consumer confidence in the euro zone for April, which has improved above expectations. On the corporate front, Credit Suisse has presented results, with losses of 228 million euros in the first quarter amid the Archegos fund scandal. The bank has sunk 6%.

OTHER MARKETS

The euro depreciates 0.2% and changes to $ 1.2010. Oil rose moderately, to $ 65.52 for Brent and $ 61.53 for West Texas.

Gold and silver lose positions, down to 1,783 dollars and 26.30 dollars, respectively.

Bitcoin is down 2% ($ 54,500) and Ethereum is up 6% ($ 2,585).

The yield on the 10-year American bond rises to 1.58%.