The Ibex rises 0.25% and strengthens above 10,200 points

The Ibex 35 ends the session with a rise of 0.25%, with which it strengthens above 10,200 points (10,246) after struggling to keep them throughout the day. DIA was the most striking value of the session, collapsing 9.35% after presenting its quarterly accounts.

The supermarket company closed the first quarter of the year with a profit of 4.4 million euros, 74.1% less compared to the 17.2 million won in the same period of 2017. The company has attributed this fall "to the strong increase in corporate tax in the period".

A long distance from DIA, the other two most bearish values ​​were Técnicas Reunidas (-1.7%) and Meliá (-1.33%). Bankia, on the other hand, was the most bullish value after rising 2.15% after its chairman, José Ignacio Goirigolzarri, today concluded the merger with BMN. Also highlighted in green were Amadeus (+ 1.46%) and CaixaBank (+ 1.14%).

In addition, in this session both Aena (+ 0.08%) and IAG (-0.93%), Repsol (-0.42%) and Merlin Properties (+ 0.39%) have managed to reach new historical highs during the session.

In the main board, Sacyr has published its results (+ 0.81%), which gained 11% more driven by its portfolio outside of Spain. FCC's accounts (+ 1.48%) have also been published, which has increased its profit by 135%, to 50.3 million in the first quarter. At the close of the market, the accounts of Ferrovial and ACS will be known.

MARKETS IGNORE IRAN AND ARGENTINA

Although there are increases in tension that could penalize markets, the stock markets remain unrelated and continue to rise. The positive close of Europe on Thursday is the closing with increases (Dow Jones: + 0.75%, S & P: + 0.97%, Nasdaq: + 1%) of the United States yesterday and green numbers that also They have been seen in Asia. The crisis between the United States and Iran, the imminent rescue of Argentina or the more than likely repeat of elections in Italy are not penalizing some stocks with a desire to rise ... especially the European ones (although the United States is recovering its good tone ).

Out of equities, those that are noticing the impact of events are raw materials (oil, mainly) and currencies. Oil is still pending the possibility that the United States will impose sanctions on Iran that limit its oil production. The Brent barrel is trading at this time around 77 dollars (77.07 dollars, -0.17%) and West Texas yields 0.11% (71.06 dollars). In addition, the Argentine peso continues to live its particular calvary waiting for the IMF to come to the rescue of the country, while the dollar remains strong and the euro hobbles in the middle of this situation of political chaos in Italy.

"If oil prices move above $ 80 a barrel, as seems likely given the recent events with the Iran nuclear agreement, as well as the riots and the upcoming elections in Venezuela, this could cause more headaches to politicians, if the global economy slows down because of it, "says CMC Markets' chief analyst in London, Michael Hewson.

DAY AGENDA

Regarding the calendar of this Thursday, without a doubt the appointment of the day is the rates meeting of the Bank of England (BoE). The agency has maintained the rates at 0.5%, thus postponing the rise in the price of money until the June meeting. Not long ago it was expected that the agency would raise interest rates in this meeting, but now it seems that the latest macro data could stop the BoE. The timid data 'macro' of March and the continued decline of inflation below expectations, without the excuse of a more restrictive monetary policy, have ended by stopping the BoE on its way to normalization.

As for other data of the day, the US CPI data has been published, which has rebounded 0.2% in April thanks to oil. In year-on-year terms, the general index stood at 2.5%. Gasoline (+ 3.0%) and lodging services (+ 0.3%) pulled strongly on prices in the fourth month of the year, with all elements of the index registering increases.

TECHNICAL ANALYSIS

According to the technical analyst of 'Bolsamanía', the Ibex has already accumulated a 10% increase since the end of March. "We can say that the Ibex seems to be heading towards the next resistance: 10,400 points," he says. This level is a bearish hole (daily) that "could serve as a brake in the short term", explains Rodríguez; if it is exceeded, the Ibex would go towards the annual highs at 10,645 points.

By values, the analyst highlights the collapse of DIA and, on the contrary, the "good feelings that CaixaBank is giving us", which is on the verge of surpassing the historical maximums that it presents in the 4,361 euros. Although, in intraday, it also highlights the historical highs that have marked Repsol, IAG, Merlin and Aena. On Telefonica, Rodriguez says that "it seems not to want to drill the support of 8.25 euros." "As long as they are able to withstand a movement in search of 8.6 euros can not be ruled out, and above 9-9.05 euros," he concludes.