The Ibex rises 1% in the week, breaks the 9,410 and faces annual maximums

Last day of a week in which the Ibex 35 has finally exceeded the key level of 9,410 points. The analysts of Bolsamanía say that rarely a technical resistance has been so clear, which means that, after overcoming it, it is easy to think of an escalation to the maximum of the year. The selective has risen 0.41%, to 9,430.20 points, after rising in value 1.07% during the week.

One of the main protagonists in Spain has been Banco Sabadell, which has risen 0.2% after starting the season of banking results. The entity has tripled its profit until September but at the same time has announced something that its shareholders do not like so much: the return to the payment of the dividend in shares.

In addition, Viscofan has skyrocketed 17% after publishing its results on Thursday, which investors have liked a lot, especially for the recovery of the business in China.

At the international level, Barclays has reported a net loss of 292m pounds in the quarter, more than expected by experts. In the same period last year he made a profit of 1bn. In addition, Amazon falls 4% after its results and weights down on Wall Street.

BREXIT AND TRADE WAR

The week ends with Brexit on everyone's lips and with the possibility of elections on the table. Boris Johnson seems to 'throw in the towel' and already assumes that there will be no exit before the deadline of October 31, so he has called for elections for December. It will be very interesting to see what happens if Johnson finally wins, as all the polls say. Will the British Parliament continue to veto it or will it finally assume what the English want, as they voted in the referendum?

"The EU is expected to grant the United Kingdom a three-month extension, which would allow lessons to be held on December 12 if two-thirds of the British Parliament support Johnson's motion on Monday," said Danske Bank experts. However, France's opposition to a long extension is causing additional uncertainty. The pound depreciates 0.12%, up to 1.2833 dollars.

Outside Europe, there have been developments in the US-China soap opera. Beijing has offered to buy $ 20bn in US agricultural products in the first year if the Donald Trump administration reaches a partial trade agreement.

In addition, US Vice President Mike Pence has been critical of the way China has managed the situation in Hong Kong, which has caused a harsh response from Beijing. Pence also said that if China puts an end to its "unfair" trade policies, the US will be prepared to start new trade relations.

The latest news is that the US Department of Commerce has confirmed progress in the negotiations, which has caused a bullish pull on Wall Street and has benefited the closure of the Ibex. The price of Brent oil rises 0.03%, to 61.69 dollars.

ECB AND ECONOMY

This Friday also continues to kick yesterday's meeting of the ECB. Few developments while Draghi, in his farewell, insisted on the need for the governments of the Euro Zone to expand their fiscal policies. "Since the ECB will launch next month a new quantitative relief plan worth 20bn euros a month, I suspect that many politicians in Europe will prefer to wait to see how the new plan goes before touching taxes and public spending "says David Madden, an analyst at CMC Markets in London.

Finally, regarding macro data, the October German IFO has been published today. The IFO of business confidence has remained at 94.6, above the expected 94.5. And the current situation IFO has stood at 97.8 compared to the forecast of 98.0. The euro falls in value 0.18%, down to $ 1.1084. In addition, the profitability of the 10-year Spanish bond rebounds slightly to 0.26% and the risk premium remains at 64 points.