Falls from IAG and the banking sector lead the Ibex to a flat close

The Ibex has fallen by 0.07%, to stand at 9,232 points, after tripping over the bad behavior of IAG and the financial sector but held afloat by the good work of the electricity companies. The selective has changed the green for the red at midday and since then, it has maintained the losses. In any case, what is really noticeable is the caution that continues to dominate the stock markets as investors continue to pay attention to two issues: what happens on the other side of the Atlantic (with the commercial war and the Huawei crisis) and what happens in the United Kingdom. (Theresa May has opened the door to a second referendum).

The most bearish value of the session was IAG. The group of airlines has fallen4.72%, affected by Brexit and oil. These two factors have also hurt other European airlines such as EasyJet (-5.83%) and Ryanair (-2.63%).

The podium of the companies with the highest losses was completed by Sabadell and Bankinter, which lost 2.71% and 2.29%, respectively. The rest of banking entities have also registered setbacks that have exceeded 1%, except Caixabank, which has fallen by 0.89%.

For its part, Ence does not know how to live a quiet day. Yesterday it was the worst value and today it was the most bullish one with a rise of 4.56% after disappearing all sales recommendations on the company, according to the FactSet data. 75% of analysts recommend buying a 25% keep.

Something similar happens with DIA. After the last frantic sessions today it has rebounded by 7.18%, becoming the most bullish company in the Continuous Market.

EUROPEAN ELECTIONS

In the United Kingdom, today the European elections begin. "Normally the elections would not be a great market engine but, given the whole Brexit issue, it is more interesting this time, especially since the Conservative Party is likely to suffer a major defeat and the new party of Brexit supporter Nigel Farage may be the most supported one, in our opinion, this is likely to increase the pressure on the prime minister to resign, "explain the experts at Danske Bank.

Regarding macroeconomic data, the IPC data was published in the United Kingdom and is up to 2.1% in April for energy. In addition, this afternoon we will have to be aware of the United States, where the content of the minutes of the last meeting of the Federal Reserve (Fed) will be known.

In other markets, the barrel of Brent trades with a fall of 1.66% at the close of the Spanish market, below 71 dollars. On the other hand, in the currency market, the euro loses positions against the dollar, it falls in value a slight 0.04% and is already exchanged for 1.1158 dollars.

TECHNICAL ANALYSIS

"The Ibex closes without major movements and stays in no-man's land, we are still there, halfway between the support of 9,025 points and the resistance of 9,410, if anything, we highlight the renewed weakness of the financial sector from Wednesday's session" , says José María Rodríguez, an analyst at Bolsamanía.

"Although this laxity is in the whole European banking sector, it is not exceptional in our market, in fact, the European banking sector, the Euro Stoxx Banks or SX7E, is close to 2% and what is worse, is taking the support of the 91.30 points ahead, "he says.

"Rebounds aside, everything suggests that once again it is heading to the December lows (83.97), this is 7% below the current levels, and if we barely fall with them it is because we have other big ones like Inditex, Telefonica or Iberdrola that are knowing how to neutralize the sharp falls in banking, "he adds.

"As for Wall Street, we continue to closely monitor the support that the S & P 500 presents at 2,800 points, while we respect it, we do not seem to have to worry about what happens on the other side of the Atlantic," the analyst concludes.