The Ibex (-0.49%) reduces losses, but is heading towards 8,900 points

The Ibex has fallen 0.49% on Monday and is increasingly closer to the support it has at 8,900 points, after closing at 8,975. It gives the impression that the index could rebound from the current levels, but it is true that it has not yet touched those 8,900. The experts of 'Bolsamania' believe that it could deepen the declines to that level before opting to rise.

Sabadell (-4.80%) and CaixaBank (-4.54%) continue to fall today after 'falling off' on Friday after publishing results. The first has returned to mark historical lows this Monday after those that already registered on Friday. The declines in these two entities drag the rest of the sector. Bankinter (-2.14%), Bankia (-2.10%) and Santander (-0.95%) registered falls today, which put the Cantabrian bank 'on the edge' of 4 euros. Although the experts of 'Bolsamanía' do not rule out that rebound of the Ibex after the sharp falls, they also recognize that little can be done while Santander remains below the 4.39 euros.

BBVA (-0.50%) was also the protagonist, after presenting its results on Friday. Experts have analyzed these figures on Monday and JP Morgan has opted to cut the entity's target price, like Citi, while Deutsche Bank has maintained its rating unchanged.

The falls of Sabadell and Caixabank have placed them as the worst values ​​of the selective, while on the side of earnings, the most bullish company has been Red Eléctrica (1.99%), ahead of Indra and Mediaset, which have added 1.52% and 1.51%, respectively.

In the chapter of results, today Unicaja stands out (-0.2%) in Spain, which increased its profit by 10.2% in 2018, to 153 million euros. Outside Spain it was the turn of Ryanair (-2.27%) and Julius Baer (-4.42%).

In the case of the Irish low-cost airline, after making a profit warning on January 18 and lowering its targets for 2019, it has reported losses of 20 million in the third fiscal quarter. As for Julius Baer, ​​it registered a 4% increase in its net profit of 2018. The third largest listed Swiss lender has also announced a cost reduction program of 100 million francs.

NEGOTIATIONS BETWEEN US AND CHINA

Outside of business, China and the US will continue to be news this month, since they must reach a commercial agreement before 1 March. This weekend the president of the United States, Donald Trump, told the CBS network that the trade talks with Beijing "are going very well". He also said that an agreement with North Korea is on the horizon. Trump and Xi Jinping, the Chinese president, are expected to meet in Vietnam on February 27 and 28, just before the deadline.

"We are increasingly confident that an agreement is closer, the chances of it being reached before March have increased, and the intense efforts made in the talks at the highest level suggest that both parties are interested in the work being done." , say the analysts of Danske Bank.

In the commodity market, the Brent barrel, a benchmark in Europe, lost 0.84% ​​to 62.22 dollars. For its part, in the currency market, the price of the euro falls to $ 1.1426.

TECHNICAL ANALYSIS

"It is still early to end the short-term correction, or phase of reaction that would come to drain / adjust the significant increases accumulated since the end of December." The support, as we have said in recent days, is in the 8.900- 8,910 points and the minimum of this Monday we have scored it at 8,906 points, "says José María Rodríguez, analyst at Bolsamanía.

"Which means that the hole has been filled in completely, but has not been closed (for the time being) Ideally, it should not be closed, and if it closes, we do not rule out falling to the support of 8,750 (50% of regression) and below the 8,650 points (61.8% adjustment), "he remarks.

"Anyway, we are going step by step and we are going to see if the last of the bullish hollows manages to stop the falls and cause a rebound, and above we have the key resistance at 9,260 points", concludes the analyst.