Europe drags the Ibex down (-1%), which marks a new annual low at the close

Strong falls in all European stock markets this Wednesday. The biggest declines were in the German Dax 30, which ended with a fall of 2%, as did the French Cac 40. While the Ftse 100 in London has lost around 1.2%. These generalized declines have also caused the Ibex 35 to close in red: it fell by 1.05% to 9,162.9 points. Thus, it approaches again the annual low (in the 9,111 points) and marks a new minimum in closing prices.

It is true that, for the moment, the Spanish selective managed to save the closing price driven by the rise of large values. However, the sharp declines in Europe, along with the sharp declines that Wall Street is experiencing today, have prevented the Ibex from finishing this Wednesday green.

FEW VALUES ON IBEX CLOSE GREEN

Thus, there have been few values ​​that have managed to close the session in green. Earnings were led by Telefonica (+ 1.1%), which yesterday recieved the blow of 232m euros thanks to the impact of the 10% sale of Telxius to Pontegadea. Followed by Banco Sabadell (+ 1.09%), Bankia (+ 0.21%), Repsol (+ 0.21%) and Mapfre (+ 0.19%, thanks to a strategic agreement with Amazon),

However, the falls were led by Cie Automotive (-6.31%), Arcelormittal (-4.84%) and Aena (-4.74%). The airport manager today presented its Strategic Plan for 2021, but it seems that it has not convinced investors.

Técnicas Reunidas has also been one of the most bearish values ​​of the session. It has fallen more than 4.5% after Barclays has cut its recommendation on the company and its target price to 36 euros per share.

CONTINUOUS MARKET

In addition, Solaria has fallen again strongly (-3.57%) after two days of sharp setbacks for the latest measures in the field of electricity raised by the Government. Likewise, Abengoa is once again news, in this case due to the investigation of the National Securities Market Commission (CNMV) to Josep Borrell for the use of privileged information. The minister has said he is considering resorting to the sanction. "If I had privileged information, I would not have lost everything," he argued.

TECHNICAL ANALYSIS

José María Rodríguez, technical analyst of Bolsamanía, describes the closure of this Wednesday at the Ibex as "very ugly". "Why? Very simple, because we have it at the door of the important support it presents at the annual minimums (9,111)," he explains.

"Our index has been holding on much better than the market average (thanks, in part, to Telefonica) but in the end it has been dragged down by major declines in Europe (El Dax has dropped by 2%)," he adds. . "We are going to see what happens from here to the end of the week because it depends on how the weekly candle remains, but there is no doubt that the drilling of the annual minimums would leave the door open to a movement towards 8,800 points. 9,000 points, "says the expert.

"Very important also what happens in Europe, which has the support at March minimums, and there they seem to want to go." The drilling of these minimums in weekly candles would be a new and worrying sign of weakness for all the stocks of the Old Continent ", concludes Rodríguez.

INCREASE OF THE PROFITABILITY OF THE BONDS

Analysts continue to insist that the policy and also the rise in the profitability of the bonds are the two major issues of the moment. Italian Finance Minister Giovanni Tria admitted on Tuesday that the government is concerned about how events are unfolding and said he hopes that new explanations for the budget measures will stop them from being considered "unacceptable".

On the other hand, it should be remembered that at the end of this week the results season begins in the United States, with figures from Citigroup, JP Morgan and Wells Fargo, among others.

Regarding the macro data of the day, the Gross Domestic Product (GDP) of the United Kingdom of the month of August has remained at 0.0% against the expected 0.1%.