The Ibex goes over 10,100 points and increases by 1.8% in the week

The Ibex 35 and the rest of European stock exchanges have strengthened their gains this Friday. The Spanish index has ended the session with an increase of 0.65% and has exceeded 10,100 points (it has been located at 10,104 at the close). During the week, the index has risen in value by 1.8%.

Increases in the airline holding company IAG have been highlighted. After knowing its results and that Norwegian has rejected its offers, the company has been the most bullish value of the session (+ 5.66%). They have followed Arcelormittal (+ 2.80%) and Banco Sabadell (+ 2.45%).

On the other hand, the 'red lantern' of the session was the supermarket chain Dia (-5.81%). It followed Siemens Gamesa (-2.29%), whose quarterly results did not impress the market, despite having announced a net profit in the second fiscal quarter (from January to March) of 35 million euros against losses of 35 million euros in the first fiscal quarter (from October to December). Its sales have dropped 29%.

Likewise, Amadeus (-1.23%) fell, which also reported an improvement in adjusted profit of 4.3% this week.

'BLUE CHIPS' IN GREEN, EXCEPT TELEFÓNICA

Another company that has rendered results before the market this Friday has been one of the 'blue chips' (or 'heavyweights') of the Ibex: Repsol. The oil company (+ 0.72%) reported a profit of 610 million euros in the first three months of 2018, 11% less than the same period last year.

The other 'big values' of the selective have also been green this session, except for Telefonica, which has yielded more than 0.7% in the parquet, up to 8,306 euros per share.

OTHER RESULTS AND STOCKS

In the main board, Clínica Baviera has shot up more than 19.8% this Friday, after presenting yesterday its quarterly accounts. Outside Spain, the results of HSBC or Société Générale stood out, which improved its profit by 14% in the first quarter.

In this way, the rest of the stock exchanges of the Old Continent have closed their sixth consecutive week in positive. In addition, earnings also predominate on Wall Street, with increases of around 1% in the three main indices.

MACROECONOMIC DATA

In the macro level, the appointment of the day has come hand in hand with the employment report of the United States. This reference is particularly important to assess the health of the US economy and to assess where the Federal Reserve (Fed) may move in the coming weeks. Unemployment in the US has fallen to 3.9% in April and has marked a minimum since December 2000 after six consecutive months at 4.1%.

On the other hand, in Spain the unemployment of April has been also been published and was left worse than the expected (the PMI of the Euro Zone has remained in 54.7 vs. 55 estimated).

Finally, investors are still very aware of these negotiations between the United States and China to try to stop the trade war and reach an agreement. The talks started early this Friday.

TECHNICAL ANALYSIS

For José María Rodríguez, analyst of Bolsamanía, this has been a "good closing in the Ibex that places us close to 10,100 points, on the threshold of the significant resistance to which we have referred for weeks at 10,210 points, the weekly bearish hollow of early February. "

"The danger would come if the index swung downward with force from the area of ​​10,200 points, because it could be said that we have simply bounced back to fill the gap," he adds. "But the important thing is that this is closed, or what is the same is canceled", qualifies.

"Among the great values ​​we highlight Friday the strength (en bloc) of the financial sector and Inditex, and unlike the last few weeks, Telefónica is showing signs of weakness, most likely as a result of the crisis that is being experienced in Argentina, where its currency (the Argentine peso) has devalued close to 10% in the last sessions, "says the expert.

"As for Wall Street we have again all its indexes holding the rate above the respective MM200. It is true that there are already three occasions on which they have relied on the same (S&P 500 and Dow Jones Transport) but In summary, Wall Street continues (at the moment) well supported, "Rodríguez concludes.