The Ibex 35 closes with a fall of 1.05%, and maintains the 8,800 after putting them to the test

The Ibex 35 closed this Wednesday with a fall of 1.05% (8,821 points) after marking an intraday low of 8,765 integers. Most of the stocks on the selective have traded in the red (Solaria, Siemens Gamesa or PharmaMar among the worst) while, on the positive side, Meliá has rebounded with some enthusiasm and Grifols has risen with some vigor after announcing that the fund Singapore's sovereign is going to invest $ 1 billion in the company.

After what happened today, the Ibex has fallen 3.58% in the month of June, but has increased in value 2.8% in the second quarter and 9.25% since the beginning of the year. In general, the balance of the stock market in the first semester is good, and now we are facing a second part of the year in which inflation and central banks will continue to be the protagonists.

However, the negative balance in June, after marking annual highs on June 14 at 9,281 points (closing prices) leaves a certain bitter aftertaste for investors in the face of the summer season.

However, JM. Rodríguez, an analyst at Bolsamanía, points out that the Ibex seems to have drawn a hammer after falling to the intraday lows of 8,765 points and "is rebounding from where it should have been", since it has a relevant support in the range that ranges between 8,750 and 8,800 points. Therefore, from here it can be restructured upwards in future sessions.

FALL OF RENEWABLES

In the business sphere, one of the issues of the day is Acciona's decision to set the final price for Acciona Energía's IPO at 26.73 euros -in the lower part of the range.

The president of both companies, José Manuel Entrecanales, has admitted that the price has been optimal and has pointed to the regulatory uncertainty in Spain as one of the factors that has affected the valuation of renewables, which in turn has caused strong losses to other listed companies such as Solaria and Siemens Gamesa.

In addition, this Wednesday there are multiple shareholders' meetings, among which Indra stands out, which has ratified by a majority the appointment of Marc Murtra as non-executive chairman. Likewise, CaixaBank is in focus. After a marathon night of negotiations with the unions, he lowered the outputs for the ERE to 6,452, while the talks continue today.

THE UN WARNS ON TOURISM

Today, the GDP for the first quarter in the United Kingdom was published (it fell by 1.6%), while the unemployment rate for June in Germany remained at 5.9%. In addition, the preliminary euro area CPI for June has been released, which slowed its climb, moderating to 1.9%.

On the other side of the Atlantic, the employment report from the ADP consultancy, a prelude to the Employment Report that will be released at the end of the week in the US, has shown the creation of 692,000 jobs, above the 600,000 expected.

Tourism remains in focus this Wednesday amid fears over the spread of the Delta variant of Covid-19. The UN has published a report in which it says that international tourism will not recover until 2023, and warns that the impact of the pandemic on it could reduce Spain's GDP by up to 2.3%.

This percentage, which the report calculates for the entire European Mediterranean region and also includes destinations such as Italy and Greece, could be even slightly worse for Spain, given the greater importance of tourism in the national economy, the UNCTAD analyst told Efe. (United Nations Agency for Trade and Development), Ralf Peters.

"We can assume that the situation in Spain is a little worse than the general figure for the region and in the most pessimistic scenario, for example, it could be around 2.8%," said Peters, after recalling that approximately 12% of the product Spanish gross interior (GDP) depends on tourism.

OTHER MARKETS

The euro depreciates 0.24% and trades at 1.1867 dollars. Oil is up more than 0.5%, to $ 75.27 for Brent and $ 73.60 for West Texas.

Gold is down 0.3% to $ 1,760; and silver rose 0.5% to $ 26.05 the second.

Bitcoin is down 5% to $ 34,782, and Ethereum is down 3% to $ 2,147.

The yield on the 10-year American bond fell slightly to 1.451% and the yield on the 10-year Spanish bond eased to 0.42%.