The Ibex rebounds supported by the banks after two sessions of notable falls

The European stock markets rebounded this Thursday (Ibex: + 0.5%. 7,364 points) after the large falls on Tuesday and Wednesday after the strong increases on Monday. There is a lot of instability in the market and a lot of uncertainty regarding what may happen in the second quarter results season that is about to start. Investors, for the moment, remain cautious, very aware of the behavior of the Asian stock markets -especially the Chinese ones, which have been doing very well throughout the week- and of what happens on the other side of the Atlantic, where today the weekly unemployment data will be released.

China published its CPI for June this morning, which stood at 2.5%, as expected by the consensus. The May reading was 2.4%. For their part, weekly jobless claims are forecast to drop from 1.42 million to 1.37 million across the Atlantic. Also, a meeting by video conference of the Eurogroup is on the agenda for this Thursday. Investors will be on the lookout for any possible progress regarding the region's recovery fund.

On the other hand, the main small diplomats have given conciliatory signals this week in their public comments on relations with the United States despite the tensions between the two powers over the Covid-19. "China's policy towards the US remains unchanged. We are still ready to grow China-US relations with goodwill and sincerity," State Councilor and Foreign Minister Wang Yi said Thursday.

"I would like to emphasize here again that China never intends to challenge or replace the United States or have a total confrontation with the United States. What matters most to us is improving the livelihood of our people," he added.

As for the technical aspect of the Ibex, as we have been repeating in recent days, it has a very important resistance in the bearish gap of 7,664 points, a gap that has been filled almost entirely but which, in no case, has been closed. In short, our selective has stopped where there was a possibility that it would. But it would be good if it did not move away from said control zone to try again, "says José María Rodríguez, an analyst at Bolsamanía.