The Ibex (+ 1.3%) breaks its negative streak and looks towards the 9,100 points

The Ibex has broken with a streak of four consecutive sessions in red to rise by 1.30% on Tuesday, to 9,092 points. The selective has been benefited, among other things, by the increases in Inditex (+ 3%), although the absolute protagonist of the day has been DIA, which has increased in value over 60% in the Continuous Market after the takeover from Letterone.

Experts point out that market sentiment continues to be good and highlight the fact that US stock exchanges continue increasing positions. Of course, they recognize that the news is scarce at a time when, in addition, most of the Asian stocks are closed for the celebration of the New Year.

"The S & P reached its highest level on Monday since the beginning of December, although with very low market volumes," the analysts at Danske Bank explain in their daily report on Tuesday.

The markets are being supported in recent times by the change of opinion from central banks regarding the raise of rates. In addition, the progress in the talks between the United States and China also help. Bloomberg reports that Federal Reserve Chairman Jerome Powell met with US President Donald Trump at the White House to dine on Monday and discuss the latest economic developments and prospects. According to reports, source of the central bank said that the head of the Federal Reserve does not share Trump's expectations regarding monetary policy.

"It is true that the Federal Reserve, for now, is keeping an eye on the rates, but we still think that rates will increase this year as the US economy continues to grow above its potential and the labor market continues to narrow ", they point from Danske.

FRIDMAN LAUNCHES A VOLUNTARY OPA ON DIA

DIA has been the main protagonist in the Spanish stock market this Tuesday. The company has soared and its shares have risen above the bid launched by Fridman at 0.67 euros per share (0.6994 euros). Fridman's offer was a premium of 56.1% compared to the closing price on Monday.

LetterOne has explained that this offer is part of a plan to save the company that includes the OPA and also a capital increase of 500m after the liquidation of the offer. Likewise, the plan includes a 'roadmap' to proceed with the integral transformation based on six pillars and which will result in the complete renovation of DIA in the next five years.

In the business world, on Tuesday the results of Alphabet, the Google matrix, which exceeded forecasts, are still 'working'. In the last quarter of 2018, the company achieved an increase in revenues of 22%, to 39.28bn dollars. Even so, its shares fell in the 'after hours' market and at the close of the Spanish market they lost 1.15 on Wall Street.

In addition, in Europe, today BP oil has published its results, with a net profit of 12,700m dollars in 2018, above the estimate. After the presentation of these accounts, the company's shares have rebounded 5.17% on the London floor.

In the commodities market, the barrel of Brent crude, a reference in Europe, has traded loses a 0.58% closing of the market in Spain, but remains close to 62 dollars. Meanwhile, in the currency market, the euro depreciates and is exchanged for $ 1,1408.

TECHNICAL ANALYSIS

"Impeccable bullish reaction of the Ibex after filling in the last cent of the bullish holes, the one of 8,900-8,910 points. This hole has been filled (that is not closed) and therefore is acting as a support to look towards the resistance of 9,260 points as a short-term objective ", highlights José María Rodríguez, an analyst at Bolsamanía.

"And above it would be confirmed a figure back in 'head and shoulders' inverted. Or what is the same, we will have figure back, which is something that we have been waiting for a long time.To end up confirming this potential figure back, the ideal is that it was accompanied by Santander, doing the same over the resistance of 4.39 euros, "he says.

"Meanwhile, Wall Street seems to be heading towards the origin of the latest bearish 'whiplash', the highs of the first session in December: the 7,100 points of the Nasdaq 100, the 2,800 points of the S & P 500 and the 26,000 points of the Dow Jones." concludes the analyst.