The Ibex (+ 0.96%) reduces weekly losses to 1.4% and recovers the 9,200

The Ibex breaks its bad streak. After five consecutive sessions in red, the Spanish market has managed to rebound 0.96% on Friday and has recovered 9,200 points (9,261). In the whole of the week, which has been complicated for the Spanish market after the government agreement between PSOE and Podemos, has reduced losses to 1.4%.

Since the pact was reached, the banking sector has been the most punished, but today they have recovered. All financial institutions have closed is positive, with Bankia (+ 2.62%), Sabadell (+ 1.52%) and CaixaBank (+ 1.35%) as the most benefited from the session.

Observing the Ibex as a whole, Cellnex (4.35%) has led the increases despite presenting its accounts for the first nine months of the year at the end of yesterday, in which it lost 12 million euros. However, investors have rewarded the company's expansion plans.

Merlin Properties (+ 3.34%) and IAG (+ 2.94%) have also traded significant increases, while only three securities have ended up in negative (Red Eléctrica: -0.84%; Viscofan: -0.54 %; Grifols: -0.51%).

In the Continuous Market we highlight the increases of 3.74% in Duro Felguera, thanks to an ascending ebitda. Tubos Reunidos (+ 1.24%) has also rebounded after presenting bad results for the first nine months of the year. Quabit Inmobiliaria fell today (-3.52%), and increased its losses by 68% year-on-year, to 26.4 million.

TRADE WAR

Beyond our borders, investors set their sights on the latest developments in the trade war and the new game of the cat and mouse of China and the United States on the partial agreement between the two countries. The latest news comes from the statement of the White House economic advisor, Larry Kudlow, who said Thursday that Washington is "approaching" this treaty with Beijing.

The Asian country remains immovable from its position on the withdrawal of all tariffs, while the US focuses its efforts on agricultural purchases. "China has repeatedly stressed that the trade war began with the imposition of tariffs and should also end with the elimination of tariffs," said China Ministry of Commerce spokesman Gao Feng.

TECHNICAL ANALYSIS

"The Ibex closes the week with average drops of 1.5% and at least it has managed to recover the level of 9,200 points. Before support and now resistance. All in all, it is early to launch the bells on the fly because it can say that the bearish bias of short-term 'trading' has been canceled. We need the bearish gap of this Wednesday (9,307) to close, or what is the same to be canceled, "says José María Rodríguez, analyst at Bolsamanía.

"In other words, to the extent that 'gap' does not close, we understand that we are facing a rebound within a short-term corrective phase. But all this, in turn, within an impeccable uptrend for the group of European stock exchanges and, above all, on Wall Street. That Friday again marks new highs of all time. Let's say that the problem, as in so many moments, is our market, "he adds.

"And proof of this we have in the banks. The European banking sector has fallen 2% in the week vs. -5% average drop in our banks. And we already know from experience that without the banks we cannot get very far. I'm afraid of what this is what will become of us when the rest of the indices decide to take a small and deserved rest (reaction phase). Will we know how to weather the storm? Surely not, "concludes the expert.