The Ibex quotes in green and returns to put the focus in 9.600 with Popular standing out

The Ibex 35 opens the session on Monday with rises close to 0.8%, which again stalks the 9,600 points after closing last week with a 1.3% advance despite the red of the last two sessions. The week is key to the results that will publish 'blue chips' of the Spanish index as Telefónica, Repsol or Iberdrola, but who leads the profits is Banco Popular, which today appoints new president. In Europe the tone will also be marked by business results.

This Monday the main protagonist of the day is (once again) Banco Popular, which holds a shareholders meeting in which Emilio Saracho will be elected president to replace Angel Ron. Despite this, the bank, which has lost 3,455 million euros and carried out a second expansion in 2016, leaves 5% in 2017.

The bank is leading the Ibex gains on a 3% jump in a day of generalized increases for the financial sector. Also noteworthy are the increases of 2% of ArcelorMittal and more than the percentage point for Amadeus and BBVA. In addition, Telefónica revalued by 0.8%, to 9.41 euros. The company is starring this week for the publication of its 2016 results on Thursday, February 23. It will also be the first presentation of annual figures by its president, José María Álvarez-Pallete.

In this sense, the consensus of analysts collected by FactSet expects a profit of 3,174 million euros, which would represent a rebound of 16% compared to 2015. But it also anticipates a slight increase in debt to 50,021 million, from 49,984 million of September. "Telefónica has a debt problem. Although it has many options to reduce them, with assets to sell, "says Carlos Gutierrez, director of variable income Aviva Gestión, one of the Spanish managers that has overweight the operator in recent times.

For the same reason that Telefónica highlights this week Iberdrola and Aena, who 'will confess' to the market on Wednesday; DIA, Repsol, Endesa, Mediaset, Indra and Red Eléctrica will do so on Thursday; And the last day of the week will be the turn for IAG and Amadeus.

In Europe, the trend will also mark the annual results. This Tuesday, HSBC highlights, while in the rest of the week there will be strong players like Bayer, Barclays, Vivendi or Peugeot.
From the macro point of view, the most important references this Monday will be the trade balance in Spain and consumer confidence in the Eurozone.

Outside the Old Continent, major Asian stock markets closed Monday with gains. In the commodities market, oil trades with increases close to 0.3%, with Brent at 56 dollars. While the euro moves unchanged with the dollar at the crossing of 1.061.