Soft fall for the Ibex pending Inditex and the banking dividend

The Ibex 35 fell 0.1%, to 8,133 points, after closing this Monday with gains close to 1%, at 8,140 points (although in the best moments of the day it exceeded 8,200 integers). The extension of the negotiations to avoid a hard Brexit sent European stocks bouncing, although the advance of the coronavirus pandemic dampened investors' optimism.

The restrictions imposed by Germany until January 10 have been added to the lockdown announced by the Netherlands until January 19, which indicates the seriousness of the situation, despite the fact that in Spain the general situation is a little more positive (although infections have reappeared).

In the United States, the Electoral College has certified Joe Biden as president this morning, after the Supreme Court rejects the demands of Donald Trump, who has not yet recognized his defeat. In addition, Republicans and Democrats continue to negotiate a new economic stimulus program without success.

Wall Street closed with a mixed sign (Dow Jones -0.62%; S&P 500 -0.44%; Nasdaq + 0.50%), as the fear of new closings due to the significant increase in cases in the US outweighed the start of the vaccination campaign.

In Spain, investors are awaiting the results of Inditex and the decision of the European regulator on dividends from banks, scheduled for this Tuesday.

Zara's parent company falls 2% despite the fact that it has earned 866 million euros in its third fiscal quarter and after having risen 4% on Monday. The company has confirmed that mobility restrictions imposed in various markets "have affected" sales in its physical stores.

The supervisory board of the European Central Bank (ECB), made up of officials appointed by the ECB and the main national banking regulators, will decide whether and how the ban on banking to distribute dividends is lifted. JPMorgan anticipates "tighter restrictions" and a slow return on dividends for Spanish and European banks.

Today relevant data has been published in China. November industrial production rose 7%, in line with forecasts; and retail sales for the same month were up 5%, compared to the 5.2% expected. Asian stocks are down moderately.

At the monetary level, this Wednesday the last meetings of the year of the Federal Reserve (Fed) and the Bank of England (BoE) arrive. For the Fed, Bank of America experts do not expect adjustments in asset purchase parameters. "The focus of the meeting will be the tone used by the US central bank, as we expect it to leave rates and asset purchases unchanged. We believe that neither economic nor financial conditions are severe enough to justify further easing of politics at this time, "they indicate from the signature.

And on the economic scene, also on Wednesday there will be PMI manufacturing and services in Europe and on Thursday the CPI of the euro zone will be known. On Friday, the climax will be the 'quadruple witch hour', the quarterly expiration of options and futures on stocks and indices.

In other markets, Brent oil fell 0.6% to $ 49.98, while the euro appreciated 0.06% and changed to $ 1.2150. In addition, the ounce of gold rose 0.5% to $ 1,842. Finally, the profitability of the 10-year Spanish bond is trading at negative historical lows of -0.01%.