The Ibex closes flat in a red day for banks after the statement from the ECB

The Ibex 35 (-0.01%) has closed its fourth day of falls, in a very interesting Wednesday session that started with rises this morning, but has changed its trend after the president of the European Central Bank (ECB), Mario Draghi, announced that he will periodically evaluate the effect of negative rates on banks. Investors have also paid attention to the European Union (EU), and its reveal regarding the type of Brexit extension offered to Theresa May (around 18:00 Spanish time).

The 6 banks of the Ibex have closed down after the words of Draghi and have been Caixabank (-2.38%), Bankia (-1.9%) and BBVA (-0.97%) the most penalized. On the earnings side, the most bullish values ​​have been Aena and Merlin Properties that have risen more than 2%.

ATTENTION TO INFLATION IN THE USA

In the chapter on macro data, today the inflation in the United States has been published, which increased by 0.4% in March due to the growth of energy prices and rent.

Also, at eight o'clock in the afternoon Spanish time will be known the minutes of the March meeting of the Federal Reserve (Fed). That was the meeting of the 'big turn' towards zero rate hikes this year. Analysts doubt that the minutes add much more to the change of message because it has been amply explained.

In the United Kingdom, the GDP of February was known, which increased 0.2% with respect to the previous month, in line with the estimate.

IN THE CONTINUOUS MARKET

Finally, as far as companies are concerned, the real estate companies remain in the 'eye of the hurricane' after the 'profit warning' and collapse of Neinor that has dragged the entire sector. This Wednesday Neynor has risen 2.4% after starting the day with falls.

The performance of Sacyr has also been outstanding in the Spanish market, which has lost 8.9% after announcing a 150m convertible bond issue, which can be expanded to 175m.

TECHNICAL ANALYSIS

"A decreasing session on Wednesday, weighed mainly by the weakness of the banking sector, especially as a result of the words of Mario Draghi after the ECB meeting. In the past few days, we have had as a support the upward gap of a week ago at 9,360 points and as a resistance the 9,555 points, which are the annual maximums ", according to José María Rodríguez, an analyst at Bolsamanía.

"To close the aforementioned bullish gap we will not rule out a return to the support area of ​​the 9,220-9,240 points: another bullish gap (April 1 session), coinciding approximately with the base of the short-term bullish channel. We were commenting in the last sessions about the stochastic moment oscillator clearly turned downwards from overbought levels that we have, which makes it almost impossible for us to continue climbing positions in the short term, "concluded the analyst.

"All in all, the minimum and maximum increases of the last months are still there, intact, in short, in the very short term we continue to drain / adjust the previous excesses within an impeccable bull trend from the December lows."