The Ibex 35 manages to keep the 9,600 points despite the banks and Inditex

The Ibex 35 has been able to maintain the 9,600 points despite the large banks and Inditex. However, the selective has been driven by the strength of Iberdrola. Finally, the Ibex 35 has risen by 0.24% to 9,659, although it has lost the important support of the 9,600 and has even dropped by 1.4%.

Iberdrola was the value that recorded the highest increase, 2.14% above, to 6.69 euros. It was followed by Repsol, which has risen 1.82%, driven by the advances recorded by oil. In third place Red Eléctrica with a rise of 1.47% to 18.3 euros.

On the side of the rises we must also talk about Gas Natural, which has risen 0.87%. The company has held its shareholders meeting in which it changed its name to Naturgy because it wants to be known as an energy company and not just a gas company. In addition, they have left the door open to return to Barcelona.

Siemens Gamesa, meanwhile, has also recorded significant progress, after falling strongly on Tuesday. The rise of this Wednesday was slight, of 0.09%, after having completed a historic agreement in Brazil.

On the other hand, Indra was the 'red lantern' of the session with a fall of 4.43% to 10.15 euros. In the lower part of the table has been accompanied by DIA, which is dropped 1.7% and Merlin, -1.12%. However, it should be noted the sharp declines in BBVA (-1.01%) and Banco Santander (-0.75%) which, together with that of Inditex (-0.24%), have prevented the Ibex from take off more strongly.

In the main board, Fluidra has risen 0.92% after it announced that it has everything ready for its integration with Zodiac. Everything, except the dividend policy of the pool giant and the water management that will emerge from this merger. The CEO of the company, Eloi Planes, has confirmed that the company plans to regain benefits among its shareholding in 2019 and that is when its new 'payment' strategy is designed.

OTHER MARKETS

The rest of the stocks of the Old Continent and closed with important increases. The FTSE 100 of London has gone up 1.04%; For its part, the German DAX 30 has also risen 0.94%, just as the French CAC 40 has advanced 0.97%. Wall Street bounces as the US lowers protectionist fears.

As for oil, after that "strange" agreement of OPEC (Organization of Petroleum Exporting Countries) to increase production, Bankinter experts anticipate that it will stabilize. At the moment, this Wednesday, 0.8% of the media is up (Barrile Brent: $ 76.89, Barrel WT: $ 71.18). According to the latest information, the United States needs to put pressure on the countries that import oil from Iran to buy them from November. "We are going to eliminate the funding flows from Iran and we are trying to show the totality of Iran's bad behavior in the region," said a source at the US State Department.

In the currency market, the euro falls again in its exchange rate against the dollar, 0.45%. In this way, the community currency is changed to 1.1595 'greenbacks'. "Given the real uncertainty, investors seem to be in favor of the opportunity to take a more secure approach to match the end of the month, the quarter and the semester in terms of making a small readjustment of the portfolio, a measure we are approaching the second half of the year, "says Michael Hewson, chief strategist at CMC Markets in London.

"There is still much uncertainty that the steps forward are in what appears to be a disjointed US trade policy, with US Treasury Secretary Steve Mnuchin and business adviser Peter Navarro, with apparently completely different plans to each other, "adds this analyst.

TECHNICAL ANALYSIS

José María Rodríguez, technical analyst at Bolsamanía, explains that this Wednesday's session was very volatile at the Ibex 35, which has lost 1.4%, with a minimum of 9,506 points. Therefore, the 9,600 points are nothing. "As supports, now I have the minimums of this Wednesday and below the area of ​​9,430 points, where the potential bullish guideline passes that the minimums of March and May," says the expert.

"The most interesting thing of Tuesday is that we have seen two of the Ibex's major titles drill support throughout the morning and close with ease at the close of the session," he explains. In fact, Santander drilled during the day the support it had at the annual lows (4.5385) and Telefónica did the same with 7.25 euros. "But in the end, both the Cantabrian entity and the operator have clearly closed above the annual minimums. What leaves the door open to simply having attended a dilation of prices ", concludes José María Rodríguez.