The Ibex signs a bullish poker, conquers the 9,800 and marks 18 months highs

Non-stop good news. The bags rose in the last session because it seems that the situation with the coronavirus is improving (within the prudent), and that generates hope. In addition, the latest news, with the chaos in the Democratic primary and the acquittal of Donald Trump in the 'impeachment', leave the US president a clear path to be re-elected, and that is what the markets like. To all this is added this Thursday that China has announced, by surprise, that it will reduce tariffs by half to hundreds of US products, worth about $ 75 billion. In this context, the stock markets continue to advance and the Ibex 35 (+ 1%) sets new annual highs and since July 2018 above 9,800 points, after rising almost 5% in the last three sessions.

At the business level, results continue to be published. Today we saw those of ArcelorMittal, which shoots up 10% after being optimistic for 2020 and despite the millionaire losses of 2019.

Another very bullish value has been OHL (+ 8%), after HSBC has again bought a 5% stake after the announcement of the possible merger with the Mexican construction company Caabsa.

In addition, BBVA has rebounded 4% despite all the negative information about the 'Villarejo scandal' that is being released and that involves its former president, Francisco González.

In negative, new day of outstanding losses for Siemens Gamesa (-6%) after a negative report from JPMorgan. Internationally, Société Générale increased its revenues by 4.8% in the fourth quarter while net profit fell 4.6%, to 654 million euros. In turn, ING has risen 2% after improving its 1.7% profit in 2019, although the fourth quarter fell. In the US, Twitter skyrockets 15% on Wall Street, which in turn marks record highs.

FREE ROAD FOR DONALD TRUMP

"Trump's impeachment trial is over without any surprises. Now, he can concentrate fully on his election campaign where he probably has a good chance of winning a second term. The anticipation of a Trump victory should continue to drive purchases in the US stock exchanges. "says Ipek Ozkardeskaya, an analyst at Swissquote Bank.

It should be noted that on the other side of the Atlantic, the employment data of the ADP consultancy that was known this Wednesday, and that precedes the employment report that will be announced on Friday, was "encouraging", according to analysts, exceeding consensus expectations . "The unexpected increase in employment figures in the US revived hopes that Friday's nonfarm payrolls may also surprise the upside," says Ozkardeskaya.

As for oil, Brent oil falls 0.3%, to $ 55.11, after the OPEC technical committee has recommended cutting daily production by an additional 600,000 barrels to contain the impact of the coronavirus. However, the position of Russia towards this possible cut remains to be known. On the other hand, the profitability of the 10-year Spanish bond remains at 0.3% and the euro depreciates 0.16% and trades at $ 1.0979.

TECHNICAL ANALYSIS

"Our Ibex is exultant, because we are facing the fourth consecutive rising session with a positive balance accumulated over 4% in the week. This Thursday we have left another bullish gap at 9,717 points, which means that you cannot rule out a short-term fall that somehow drains / adjusts proportionally the sharp increases in recent days, "says José María Rodríguez, analyst at Bolsamanía.

"But we have to recognize the weekly sail that we are going to finish drawing, which except for any surprises that may be sprung upon us, is anything but bearish. In fact, it would be said that the Ibex has stepped on the accelerator towards the top of the bullish channel at 9,950 points. By values , highlight the new historical highs of Endesa and Iberdrola today. "