The Ibex (-2.48%) suffers its biggest fall of the year and looks at 8,900 points

The Ibex has suffered on Tuesday its biggest fall since December 2018. The Spanish selective has dropped 2.48%, to 8,986 points, which loses the support of 9,060 points and now has no breaks until 8,900. The session has been marked by the color red, with all values closing in negative.

Siemens Gamesa has been the main protagonist with a 17.65% collapse after announcing a 53% drop in its net profit of the third fiscal quarter and clarifying its EBIT margin objectives for fiscal year 2019. Enagás, which has also published accounts , 2.89% has fallen, while Acciona has seen a sharp profit collection (-3.46%) after announcing figures this Monday at the close.

Among the most punished values, IAG has also been placed (-5.96%). The airline group and the rest of the sector in Europe have been infected by Lufthansa's red numbers (-6%) after presenting their results.

Investors have also been very aware of BBVA (-3.03%) after it was confirmed what was already expected by all: the imputation of the bank by the National Court for the crimes of bribery, corruption and disclosure of secrets.

THE POUND STRETCHES ITS LOWS

In England things remain messy, to put it mildly. The pound stretches its minimum of two and a half years while Boris Johnson continues in his fight to make Brexit a reality before October 31. The British Prime Minister said that the agreement with the European Union (EU) is "dead" and said he will not meet with Brussels until he agrees to renegotiate it.

On the other side of the Atlantic, today is once again focused on the trade war. The president of the United States, Donald Trump, has once again warmed up with China on a day when representatives from both countries meet again to try to bring positions closer. In a series of tweets, he says that China does not want a deal now, but is waiting for the November elections next year to see if the Democrats win and thus get a more favorable deal.

TECHNICAL ANALYSIS

"In recent days we have commented that when we failed again with the resistance of 9,410 points we did not rule out a fall, even, towards 8,900 points. But the truth is that we expected it to be much slower, slower, with their intermediate rebounds But the fact is that we are already there, "says José María Rodríguez, an analyst at Bolsamanía.

"Now let's see what happens in this support, although it is true that below we have another in the area of ​​8,780 (61.8% adjustment) -8,800 (the base of a potential lateral-bearish channel). Let's say a closing below 8,800 points would leave the door open for a probable return to the origin of the movement: the December lows at 8,300 points. The rest of our neighbors are also suffering, but they have a much larger mattress, " Add.

"We are very close to the June minimums (8,900), while they are around 5% on average above homologous support levels. The truth is that the weakness of our selective should no longer surprise us as much minimum, since it has been like this for a long time and, rebouns apart, is far from improving. The culprits are the usual suspects: banks, "says the analyst.

"All of them seem to set course for the December lows, not to mention those that have already stopped braking, such as Sabadell, Bankia and CaixaBank. However, things as they are, it seems like the whole of the European banking sector is bringing the stock markets down, the EURO STOXX Banks, falls more than 3% on Tuesday, which means that the falls are sectoral, in block, and a little more still for our banks "concludes the analyst.