The Ibex falls 0.9% and returns to 9,700 points

The Ibex 35 has fallen 0.89% to 9,702.10 points, in a day of generalized sales in the European stock markets. The uncertainties due to the tension between China and the United States, added to the doubts in the political sphere and even to the future of oil are there and continue to press the markets (Cac 40: -1%, Dax 30: -1.4%) .

One of the most bearish sectors of the day was the Automobile segment. Daimler, parent of Mercedes-Benz,that launched a 'profit warning' that has dragged down CIE Automotive on the Ibex. The manufacturer of components for cars has dropped 4.97% and Gestamp has fallen 1.1% in the Continuous Market. BMW has dropped 3% in Germany, as has Peugeot (-3%) in France.

Among the 'blue chips' of the Ibex, Iberdrola has yielded 2.28% and CaixaBank 1.99%. In addition, Endesa fell 1.89%, followed by Gas Natural Fenosa (-1.2%), Santander (-1.01%), Repsol (-0.64%), BBVA (-0.63%) and Telefónica (-0.57%). On the positive side, very few securities: Mediaset Spain (+ 0.65%), Inditex (+ 0.58%), Indra (+ 0.47%), Cellnex (+ 0.37%) and Técnicas Reunidas (+0, 19%)

In the main board, special mention for 'old' Pescanova, which has shot 58% in full trial against 'new' Pescanova by the capital increase of 135 million euros. Although its value on the stock market is only 31 million euros, since its assets are composed of 1.6% of the capital of 'new' Pescanova.

The control areas to be monitored by the Ibex are where we have them: the 9,600 points as support and the 9,985 points as resistance

This Thursday, investors continue to pay attention to what is known about the trade frictions between China and the US and also to any political novelty from any part of the world given that, today, there are many fronts open in this regard.

In fact, this weekend the focus will be on Turkey and its general elections. Companies like BBVA have strong interests in the country to avoid a political situation that may affect them.

Barclays experts publish a report on Thursday recognizing that these political tensions, as well as trade frictions between the US and China, have caused a slowdown in the first quarter, but at the same time consider that the macro environment remains solid. "The growth is decent, the inflationary pressures are contained, the central banks have given more clarity to their monetary policies and the entrepreneurial profits are strong", these experts point out. "We recommend a modest overweight in global equities above fixed income," they add.

The attention of this Thursday is also focused, to a large extent, on what the Bank of England has said, which has held a meeting of rates. The agency has not gone off script and at its fourth meeting of the year, the Monetary Policy Committee (MPC) has decided to keep interest rates at 0.5%, as advanced analysts predicted. Now, experts look to August as the next most likely scenario to see a rise. The absence of new growth data in the second quarter and the shadow of a busy Brexit continue to weigh on British regulators.

And, meanwhile, oil is still news. At this time Brent crude falls more than 1%, to $ 73.85, before an imminent OPEC (and Russia) agreement to increase production. It is speculated that Iran will eventually join, although tension has been the dominant note of this meeting and its initial refusal. In the currency market, the euro rose in value 0.3% against the dollar, up to $ 1.1610.

TECHNICAL ANALYSIS OF THE IBEX 35

"In spite of the falls of this Thursday everything remains the same in the Ibex 35 Why? Because the control zones are in the support of the 9,600 points and above, on the resistance side, we have 9,985 points. So, in theory, whatever happens before, the perforation of the support or the overcoming of resistances, will be the clue of the next short-term movement ", explains José María Rodríguez, analyst at 'Bolsamanía'.

"We will keep an eye on three of the big blue chips of our selective company: Santander, BBVA and Telefonica, the first two have the support to respect the annual minimums that were attacked this Tuesday: 4.53 euros of Santander and the 5.88 euros of the Basque entity, and in the case of our operator, we have to monitor the important support that also presents at the annual minimums, 7.25 euros, as long as it is not confirmed The drilling of these supports can continue to maintain hope in our market, although it has a limit, "Rodríguez concludes.