The Ibex stands out from Europe and rises 1.3% thanks to Inditex and Telefónica

The Ibex 35 stood out from European stock markets and has rebounded 1.36%, to 6,762.70 points. Inditex has risen 5% and has been the main driver of the selective, along with other securities such as Ferrovial (+ 3.59%) and Telefónica (+ 2.96%). The Spanish index continues to lag behind the rest of the major European stock markets, but at least this session has been more profitable.

Inditex has shot up more than 5% in the queues at its Zara stores in France, after the lack of confidence measures announced by the French government. In addition, Telefónica has rebounded after the corporate operation announced in the United Kingdom and which will allow it to reduce debt significantly.

Other outstanding stocks have been Cellnex (+ 4.18%) and Ferrovial, two of the five Ibex stocks that have registered positive behavior in the last twelve months, together with Viscofan, Grifols and Iberdrola.

In negative, the values of the tourist sector continue very punished. Meliá Hotels is down 5.89% after the Spanish government announced that it would isolating international travelers from May 15, at least until the de-escalation lasts. In addition, Indra is down 4.35% after publishing results that the market did not like.

On the other hand, large stocks such as ArcelorMittal (-5.63%) or IAG (-2.27%) have continued to fall. The first has announced a capital increase; and the second has said that things are further distorted by these plans to quarantine international travelers in different countries.

Today DIA and Amadeus published their own results. The first has reduced its first-quarter losses by 5.7%, to 142.6 million euros, although it has dropped almost 9%. And the technology company for air reservations has lost 1.6%.

There is fear of the possibility of a new outbreak of the virus in the midst of the global de-escalation process, and this has investors worried. The world is aware that it must begin to move in order not to sink economically, but at the same time it knows that this involves risk and measures are being set to try to contain it as much as possible.

On an economic level, China and the United States have published their latest inflation data. The CPI for April in the Asian giant has dropped to 3.3% from 4.3%, below the anticipated 3.7%. In the US, prices fell 8 tenths in April, the biggest drop since 2008, which has reduced the Consumer Price Index (CPI) to 0.3% year-on-year, the smallest rise in 12 months since October 2015.

For his part, Haruhiko Kuroda, the head of the Bank of Japan, has declared in an appearance in the Japanese parliament that the central bank will do "everything it can" to deal with the crisis.

In other markets, Brent oil rises 1% and is close to $ 30, while the euro appreciates 0.6% and trades at $ 1.0868. Furthermore, the yield on the Spanish 10-year bond relaxes to 0.85% and the risk premium falls to 136 points.

TECHNICAL ANALYSIS

"Finally, the Ibex closes near the highs of the day and putting some earth in between with respect to the support area of ​​6,580 points. But otherwise everything remains exactly the same, that is, we neither pierced supports nor attacked resistances . Flat encephalogram in the Ibex, "says José María Rodríguez, analyst at Bolsamanía.

"And in order to talk about a possible more or less consistent bullish section, we should be able to overcome the resistance that we have in the last decreasing maximum (7,130). In the meantime, it can be said that the Ibex is deploying a narrow triangle for that that we have slight decreasing maximums and increasing minimums ", concludes this expert.