The Ibex closes flat (-0.07%) at 8,492 points, weighed down by Telefónica

The Ibex 35 has closed flat (-0.07%) at 8,492 points to begin a week that is marked by the friendly takeover of MásMóvil for Euskaltel, valued at 2bn euros; and pending the foreseeable opening of maritime traffic in the Suez Canal. American stock markets are currently trading down 0.5% after the historical highs of the S&P 500 last Friday, close to 4,000 points.

MásMóvil has offered 11.17 euros for Euskaltel, which closed this Friday at 9.50 euros per share; and it has already committed the acceptance of 52% of the capital, so the success of the transaction is practically assured, which conditions an acceptance of 75%.

Within the Spanish selective, the best value was Almirall (+ 12.71%) followed by Cellnex (+ 4.69%). The worst were Telefónica (-3.72%) and IAG (-1.79%).

In Europe, large countries such as Germany and France are preparing to increase restrictions on mobility due to the virulence of the Covid-19 pandemic.

In Spain, some communities are also going to reinforce their restrictions ahead of Easter. We remind you that the exchanges operate normally except next Friday.

In addition, the Government has confirmed that the public deficit in 2020 soared to 10.09% of GDP, the highest since 2012, due to the coronavirus crisis. The incorporation of Sareb into the public sector represents almost a full point of GDP, since with its data the public deficit stood at 10.97%.

Another issue that may move the market is the infrastructure plan that Joe Biden plans to announce in the US on Wednesday, which may be valued in the long term at 3 trillion dollars.

In addition, tension in the financial markets due to the forced sales of the investment fund Archegos Capital Management, linked to the controversial speculator Bill Hwang, who was already convicted of insider trading when he managed the Tiger Management fund.

Banks such as Credit Suisse, Nomura and Deutsche Bank fall sharply on the stock market after recognizing exposure to this hedge fund, which has caused downward pressure throughout the European banking sector.

At a strategic level, UBS Global Wealth Management's support for equities. The experts of this firm believe that there is still an upward path for world stock markets, and they even put a figure: they predict that they can still rise between 5% and 10%.

In other markets, Brent oil fell 0.4% to $ 64.31, although the ship stranded in the Suez Canal has been refloated and traffic is expected to resume in the coming days.

In addition, the euro depreciates 0.2% and trades at 1.1768 dollars, while the ounce of gold falls 0.5%, to 1.722 dollars. Finally, the yield on the 10-year Spanish bond rises slightly to 0.30%.

By technical analysis, "for the next few days we should wait for the Ibex to close above 8,624 points, the maximum of the bearish gap of a week ago. If it manages to overcome this resistance, it is likely that we could end up seeing an extension of the gains until the level of 9,000 points, "says César Nuez, an analyst at Bolsamanía.