The Ibex rises 0.72% driven by the calm in the trade tensions

The Ibex has added 0.72% on Monday, to stand at 9,264 points, after a truce between the United States and China emerged from the G20 summit. There will be no new tariffs and, in addition, the United States will allow the companies of the country to sell products to the Chinese manufacturer Huawei. Thus, the rest of European stocks have also quoted with earnings, which in the case of Dax and the Ftse have hovered around 1%.

"It is still very uncertain how long this truce will last and, therefore, this should only be a short-term relief for the markets, the yen has weakened slightly, while currencies and commodities have strengthened" , say the Danske Bank experts.

Oil is the other important issue of this week-end. Brent and West Texas oil have managed to shoot around 2%, although at the end of the Spanish market they only add 0.5%. Declarations came this weekend from Russia and other producers of crude, who have taken for granted an agreement of the OPEC (Organization of Petroleum Exporting Countries) to extend the production cuts during the rest of the year. OPEC members meet today and tomorrow in Vienna.

It is also news this Monday the meetings in Europe to select the replacements for the top jobs in the bloc after the elections. For now, the summit has been suspended until tomorrow, Tuesday, due to the impossibility of reaching an agreement.

ENCE IS THE MOST BOLD COMPANY OF THE IBEX

At the corporate level, all the Ibex values ​​have been positive, with the exception of IAG (-0.94%), Iberdrola (-0.3%) and Cie Automotive (-0.16%). Ence has been the most bullish company of the selective, with a rebound of 3.58%, after a weekend marked by the protests in Pontevedra in support of its factory precisely when its future is more in doubt.

For its part, ArcelorMittal (+ 1.23%) has also been one of the most outstanding bullish values. The steelmaker has completed on Monday the sale of assets in Europe announced at the end of 2018 to Liberty House Group for a total of 740 million euros and investors have launched to buy shares of the company.

Outside our borders, the eyes were on Brazil. Neoenergía, a subsidiary of Iberdrola, has made its debut in the Sao Paulo stock exchange with strong increases. The company entered the market at a price of 15.65 Brazilian reais and has reached the 17 reais, although it has moderated a bit the increases.

TECHNICAL ANALYSIS

"The Ibex starts the week leaving a daily bullish gap, which may well end up being weekly, at 9,198 points. On the side of resistance and as we have commented on numerous occasions over the last two weeks we have an important area of control in the 9.335 points. On top, in theory we will have an inverted 'head and shoulders' potential, which should throw us above even the annual highs (9.588), "says José María Rodríguez, analyst at Bolsamanía.

"Although it is not enough to close above the 9.335 points as we already know that we have another resistance, in my opinion of greater relevance, in the daily and weekly bearish hole of 9,410 points, and until this gap does not close, or what is the same is canceled, we will not have a sign of real relevant strength "he adds.

"For now, the sensations can not be better: we have the three major European indexes (Dax, Cac 40 and Euro Stoxx 50) setting new annual highs and the S & P 500, which is the main index of the world, marking new maximum of all times, which means that in theory, and with the permission of banks, the wind blows in favor, "the analyst concludes.