The Ibex fails to rebound due to concerns regarding Covid and despite the increases in Santander

The Ibex remains flat at this time on Tuesday while the rest of Europe falls more strongly. The selective does not yield any more thanks to the increases registered by Santander (+ 4%) -and that infect the rest of the entities- after publishing its accounts. The bank has lost more than 9bn up to September, but the third quarter has been "good", according to the entity itself, and has exceeded expectations (it has earned 1.7bn). Investors are pending at this time in Spain the presentation of the details of the PGE by the President of the Government and the Vice President.

Wall Street also ended last session with important cuts (of around 2% on average) while Asia has also seen falls (although more moderate) this morning.

In addition to its results, today Santander is holding a General Shareholders' Meeting, in which it will approve the dividend to be paid when allowed by the European Central Bank (ECB). Likewise, the accounts of more companies will be known throughout the day. HSBC also beat forecasts, despite a 36% drop in third-quarter profit before tax.

As for the macro data of the day, unemployment in Spain rose by 355,000 people in the third quarter despite the record of affiliation, according to the EPA.

Experts note that the focus remains on the increase in Covid cases. "The focus is mainly on the increase in new cases of coronavirus both in Europe and in the United States, since in the latter there is a third wave and new closures by the authorities," say Danske analysts Bank in your daily report.

Regarding the technical aspect of the Ibex, the experts of Bolsamanía indicate that we must be very attentive to the support of 6,709 points. "Be careful that if you lose 6,709 points, we could end up seeing an extension of the falls to the lows of the month of September that it presents at 6,552 points", warns César Nuez, analyst at Bolsamanía.