The Ibex closes in red after marking annual highs above 8,700 points

The Ibex 35 has fallen after marking an annual maximum of 8,740 points. The Spanish selective has fallen 0.11%, to 8,635.40 points, after the confirmation that the main European countries (Germany, France, Italy) temporarily suspended the AstraZeneca vaccine until an official statement from the European Medicines Agency ( EMA), scheduled for tomorrow, claims its safe. Spain is studying it and the Minister of Health will confirm it this afternoon.

After a very positive last week, in which the European Central Bank (ECB) had a lot to do with the increases, in addition to the favorable news from the United States (approval of the stimulus plan), the Ibex has started this week with advances and struggling to overcome the resistance of 8,683 points, something that has not been achieved in this first attempt.

The Federal Reserve (Fed), the Bank of England and the Bank of Japan will take the baton from the ECB in the coming days and are likely to make announcements related to inflation and rising bond yields, which would be welcome. Likewise, the Fed is expected to review its growth forecast for the economy after the 'ok' to Joe Biden's aid plan.

It should be noted that the yield of the 10-year US bond is again above 1.6% (1.613%) and that it has reached a maximum of more than a year at 1.64% in light of those expectations that the economic growth and, with it, inflation.

Meanwhile, in Spanish politics, the news of the day is that the second vice president of the Government and minister of Social Rights and Agenda 2030, Pablo Iglesias, will leave his position as vice president to be the candidate for Unidos Podemos in Madrid and thus to dispute the regional presidency to Isabel Díaz Ayuso. Thus, Yolanda Díaz will assume the vice presidency of the Government and is running as a future candidate for the presidency in the next elections.

ACCIONA RISES STRONG ON THE STOCK MARKET

At the business level, the most bullish value of the Ibex has been Acciona, after the Mexican justice has paralyzed the reform of the electricity sector that harms its renewable energy facilities there.

In addition, the values ​​associated with tourism (IAG, Meliá, Aena) have continued to discount that there will be a summer season in Spain and Telefónica has managed to go over 4 euros per share.

Internationally, shares of Japanese tech giant Rakuten soared 20% on Monday following the announcement that it plans to do a capital increase to raise $ 2.2 billion to better compete with its US rivals.

Rakuten said on Friday that it will sell an 8.3% stake to postal and banking giant Japan Post, which will be the largest shareholder outside of the founding Mikitani family. Chinese internet company Tencent will take a 3.6% stake, while US retailer Walmart will buy a 0.9% stake.

THE IBEX ATTACKS RESISTANCE

After skyrocketing 4% last week, the Ibex is trying to overcome resistance at 8,683 points today. "We will be very aware of the surpassing of this price level, since we could end up seeing an extension of the gains up to the level of 9,000 points", point out the analysts of Bolsamanía, who also do not rule out a consolidation of levels after the last accumulated increases.