The Ibex remains at the gates of the 8,500 points driven by renewables and electricity

The Ibex 35 has risen 0.62%, to 8,496 points, and has renewed its annual highs registered this Monday. The selective relied on the values ​​associated with renewable energy and electricity, in addition to Inditex, which presents results this Wednesday. Although the fall in the banking sector has prevented the increases from being more prominent. The Spanish selective does not close above 8,500 points since the beginning of March 2020.

In the business sphere, Solaria, Soltec and other renewable companies have skyrocketed in the stock market due to the buying interest of the Norwegian Statkraft, which has expressed its intention to grow in Spain through acquisitions.

In addition, Siemens Gamesa has made great strides after an agreement with Elawan Energy to install one of its largest wind complexes in Spain.

Another very bullish stock was Ferrovial, after Goldman Sachs reiterated its purchase advice on the stock, with a valuation of 28 euros per share.

In addition, Naturgy has held a meeting with the uncertainty of whether the Government will approve IFM's partial takeover bid, while Renfe is negotiating the purchase of 50% of the Czech Leo Express to grow in Europe; and Grifols has acquired the remaining 56% of GigaGen.

THE OECD WITH A POSITIVE OUTLOOK FOR SPAIN

On the other hand, the OECD foresees a stronger recovery in Spain, as it has anticipated growth of 5.7% in 2021 and 4.8% in 2022, seven tenths more than previously forecast for this year and eight tenths more by 2022.

On the economic agenda, the GDP of the euro zone contracted between October and December by 0.7% quarter-on-quarter, one tenth more than expected. In year-on-year terms, the fall was 4.9%, slightly less than the 5% forecast. For its part, the number of employed persons in the euro zone in the fourth quarter of 2020 reached 157.9 million, a figure that represents a fall of 3.1 million jobs compared to the same period in 2019.

Meanwhile, the pandemic remains in focus. The United States has said it allows those vaccinated to meet other vaccinated people indoors and without a mask, although it advises caution. In Spain, the hope is that the summer tourist season will be saved with the implementation of a health passport in the EU.

BITCOIN

Amid a new push from institutional interest, bitcoin again posted strong gains on Tuesday and its market capitalization has risen above the trillion dollar mark. The most traded of the crypto currencies has expanded in value after the price hit two-week highs near $ 54,500. In the last week it rises around 10% and at this time at $ 54,677 (+ 4.88%) and Ethereum rises 3.2%, to $ 1,830.

AND HOW IS THE IBEX?

After setting new annual highs this Monday, the experts at Bolsamanía point out that the index "is about to confirm the end of the lateral movement in recent weeks." In this sense, they do not rule out that they will end up seeing an extension of the rises up to the level of 8,683 points.

"The first support level is at 8,239 points. We will not see a sign of weakness as long as it remains trading above this price level," says César Nuez, analyst at Bolsamanía and head of Trader Watch.

Meanwhile, investors are still aware of the rise in bond yields (the US 10-year bond surpassed 1.6% briefly this Monday) and of everything that is happening on the other side of the Atlantic: from the fall in technology, which was repeated yesterday, to the approval of Joe Biden's plan by the House of Representatives this week. The president is expected to sign it before major unemployment programs expire on Sunday.

OTHER MARKETS

In other markets, the euro rises in value 0.48% and trades at 1.1907 dollars. Brent oil fell 0.1% to $ 68.28. In addition, the ounce of gold rises 2%, up to 1,710 dollars; and the profitability of the Spanish 10-year bond relaxes to 0.36%.