The Ibex rises 1%, on the threshold of resistance of 9,130 ​​points

The Ibex has distanced itself from the rest of Europe this Wednesday, rising by 1% at the close of the market and staying slightly below the resistance of 9,130 ​​points, in a session in which the good behavior of banks after two days has stood out of losses in the sector.

Caixabank (+ 3.8%), Bankia (3.4%) and Sabadell (2.5%) have positioned themselves as the three most bullish securities of the selective, while BBVA and Santander have supported the rise, closing with a rise of 1%. The Cantabrian entity has announced this Wednesday that it will close 140 offices in the United Kingdom and cut some 800 jobs.

On the other end of the selective one, the falls of Técnicas Reunidas (-1.5%), Arcelormittal (-1.5%) and Siemens Gamesa (-1.1%) stood out.

On the other hand, the hotel chain Meliá closed with a slight increase of 0.1% on the same day that its vice president and CEO, Gabriel Escarrer announced that 2018 was a "disastrous" year and that the independence conflict continues to weigh on the results of hotel companies in Catalonia.

Telefónica, which closed with a 0.5% increase. has announced on Wednesday that it reinforces its agreement with Vodafone to share networks in the UK, including 5G, and that both companies will explore ways to optimize the passive infrastructure of towers that have joint ownership at 50%.

In the Continuous Market, particularly notable were the increases in Berkeley (27.3%), in the face of advances in the Salamanca project, and Ezentis (9.8%), due to a Berenberg report. MásMóvil has also strongly increased in value (4.8%) thanks to a purchase recommendation from Goldman.

TECHNICAL ANALYSIS

"The Ibex 35 accumulates a rise of 7% in the month of January and is ranked as the best performing index, among the largest in Europe, followed by Italy (+ 6.2%). We find that we may be the only index that ends up breaking resistance and without the confirmation of any of the European weight indexes ", explains José María Rodríguez, technical analyst at Bolsamanía.

"To give us an idea of ​​where we are, it turns out that the December highs (9,265) from where the last major correction started are just around the corner, while the Dax is at 5% of the homologous levels and the Euro Stoxx 50 is at 4%, we are running too much, and the problem is that a server will not stop believing overcoming resistances without the support of the rest of the indices of the Old Continent, "says the expert.

"And if we look at the two big banks in our country we have Santander at the gates of the important resistance of 4.4 euros (the upper part of the bearish channel), while BBVA can end up drawing an imposing monthly bullish candle ( there are still several sessions to close the month) that would invite us to think there could be a bullish or less bearish trend, as you can see, the market is very complicated ", concludes Rodríguez.

THE POUND AND BREXIT

Within the European markets, which have closed with slight falls, the British FTSE 100, which has lost 0.8% at the close, has stood out negatively. The pound gives off better sensations, which continues to price higher and analysts say it would be discounting the possibility that British politicians reach some kind of agreement to avoid a Brexit without agreement.

The Labor Party seems to be implying that it would support an amendment that extends the Brexit term. The experts, however, remember that an extension of Article 50 is not easy since it must also be approved by the European Union (EU). Although there is nothing to indicate that Europe would not approve an extension of Article 50, there would have to be confidence that by doing so, it would be possible to get out of this blocking situation and reach a satisfactory conclusion, analysts say.

The Bank of Japan has kept interest rates unchanged overnight. Also, in what is a sign that demand and growth are likely to remain weak, the bank has reduced its inflation outlook for this year. The poor outlook was supported by disappointing data on exports, which is not a surprise given China's weak trade figures last week.

"This would suggest that the interest rate policy here is not going to change in the near future, and it is likely to remain sluggish by 2020. It is likely that the European Central Bank will echo this tomorrow, as the expectations of rising of types in Europe begin to be pushed into next year ", point out from CMC Markets.