The Ibex maintains the 9,500 points despite the burden of Mexico and Germany

The Ibex starts the week in red. The selective has yielded 0.67% on Monday, up to 9,558 points, but burdened along with the rest of European indices by the election result in Mexico and the possible loss of leadership of Merkel in Germany.

The start of the week can not bring more uncertainties for the markets. On the one hand, in Mexico, as the polls anticipated, the leftist candidate, Andrés López Obrador, has won the elections. On the other hand, the day has brought a political crisis in Germany that is materializing clearly and that has Angela Merkel 'on the ropes'. Her party has met early on Monday to try to stop the Interior Minister of the CSU from resigning since he does not agree with the agreement on immigration that Merkel arrived in Brussels last week. After eight hours of talks, Horst Seehofer has left in the air his resignation.

GENERALIZED FALLS IN EUROPE

With everything, and back to the Ibex 35, Siemens Gamesa (-2.13%) has been the 'red lantern' of the session. Followed by BBVA (-2.11%), the Basque entity is the most exposed to Mexico (it is its main market, with 27.5% of its income). Both have been followed in the losses Aena and Mediaset Spain.

On the other hand, the values ​​that have risen in value the most this Monday have been the supermarket chain DIA, the 'newcomer' CIE Automotive, and the energy company Naturgy. As for the great values ​​of the selective (or 'blue chips'), only Inditex has managed to finish the day positive. In fact, Banco Santander and Telefónica have set new annual minimums.

OTHER STOCKS AND MACROECONOMICS

Thus, Mexico and Germany have become two clearly open fronts that have led the European stock markets to live a complicated day on Monday, with drops of 0.6% on average.

In addition, in Asia there has also seen a clear dominance of the red numbers this dawn. The Nikkei has increased losses at the last minute and has closed with falls of no less than 2.21%. These tensions should be added to the fact that this Friday the tariffs of the United States on China and China on the United States both come into force.

"A week full of events is approaching, which will culminate with the introduction of US tariffs to China and the US employment report on Friday," say the Danske Bank experts.

The start of the tariffs means the start of a full-fledged commercial war. In addition, according to Financial Times, the European Union has threatened to impose new tariffs on the United States as a form of reprisal and worth 300,000 million dollars if Donald Trump goes ahead with the tariffs on European cars. The White House has prepared a bill that would allow it to unilaterally increase rates without congressional approval, reports Axios. On Wall Street, losses also predominate on Monday, of more than 0.2% in its three main indices.

Regarding macro data of the day, the industry of the Euro Zone continues to suffer in June, with falls in the manufacturing PMI to 54.9 from the previous 55. In addition, unemployment in the Euro Zone remains stable at 8.4% in May.

TECHNICAL ANALYSIS

José María Rodríguez, technical analyst of Bolsamanía, says that on Monday new Telefónica and Santander annual minimums have been registered. "BBVA is holding the rate better than the Cantabrian entity in recent sessions, or at least for the moment has not tested the support of annual minimums, 5,783 euros," says the expert. "And we already know from experience that BBVA usually works very well as an advanced title for the Ibex, it's rare for the Ibex to fall when BBVA does not confirm Santander's new annual minimums. short term, "he adds.

"As for the Ibex we can say that the lows of Monday have found support which can be the basis of the triangle in which the price is embedded in recent months, but to have a first sign of strength we need the index to cancel (or what is the same close) the bearish gap with which we have started the week, in the 9.623 points ", indicates the technical analyst. And, in his opinion, "any possibility of recovery happens because this gap is closed, on the side of resistance, the most immediate is at 9,985 points, the June highs."