The Ibex loses 8,200 points due to fear of more restrictions in Europe

The Ibex 35 has lost 8,200 points (-0.83%, 8,136.40 points) and closed at the lows of the day, weighed down by large stocks such as Repsol, Amadeus, Aena and Telefónica, which have increased their fall in the final section of the journey. The earnings of Bankinter, Cellnex and Siemens Gamesa have not been enough to offset the selling pressure. The fall in European stock markets has increased when it was published that the European Union is considering restraining freedom of movement again to stop the new strains of the coronavirus.

Investors are also attentive to how the cases of contagions and deaths mark maximums day after day in different areas of the world. Germany has extended its lockdown until February 14, while curfews have been implemented in France and the Netherlands.

This Wednesday it was reported that bars and restaurants in France will remain closed until Easter, even in the most optimistic scenario. And Portugal has closed schools for 14 days.

"This seems to suggest even more economic pain in the weeks and months to come, as the vaccination program begins to falter," acknowledges Michael Hewson, chief analyst at CMC Markets.

For its part, Wall Street continues to rise and at all-time highs following Joe Biden's inauguration and a drive-focused speech that has been widely applauded. In Asia, the day has also been dominated by the green numbers.

In Europe, investors have been attentive to the European Central Bank (ECB) and, here in Spain, at the start of the earnings season, to Bankinter accounts, whose net profit fell 42.4% in 2020, less than expected).

Its shares have risen more than 4% after confirming that it will distribute 45 million in dividends out of 2020 (5 cents per share), as it hopes to obtain the approval of the regulator.

In addition, also in our country, Cellnex has been the protagonist, which has risen 1.7% after an agreement with Deutsche Telekom to develop its tower business in the Netherlands.

For its part, OHL has reached a pact for its recapitalization, but it has sunk 14% after announcing two capital increases to 0.36 euros. Solarpack has also made the news, which has also plummeted 13% after the placement of 12.39% of its capital to 24.50 euros.

ECB REMAINS THE SAME

As for the ECB, little news. The agency has stressed "the very accommodative orientation" of its monetary policy. In December, the European Central Bank extended its Pandemic Emergency Asset Purchase Program for the second time in 2020, as well as extending it for another nine months, until March 2022.

"We are ready to recalibrate all of our instruments. Everything is on the table," said Christine Lagarde. "So the PEPP (Asset Purchase Program) could be lower or higher, it all depends on the financing conditions," says Neil Wilson, analyst at Markets.com.

This Thursday's agenda brings more business results in the United States, such as those of Intel or IBM (at the close of the market). Also in the United States, weekly unemployment claims have been known, which remain at very high levels of 900,000; and the Philadelphia Fed manufacturing index, which has been better than expected.

As for the technical aspect of the Ibex, "for the next few days, it would be good if we saw the return of rises again. The extended rises happenwith the overcoming of the resistance of 8,439 points, maximums drawn at the beginning of the year which would make us think of an extension of the increases to the level of 9,000 points, "says César Nuez, an analyst at Bolsamanía and head of Trader Watch.

In other markets, Brent oil fell 0.5% to $ 55.80, while the euro appreciated 0.47% and traded at $ 1.2161. In addition, the profitability of the Spanish 10-year bond rises to 0.09%.