The Ibex goes over 9,900 points waiting for Santander and Iberdrola

The Ibex 35 has risen 0.38% and has surpassed the 9,922 points, in a day of moderate gains for all European exchanges. The week has started smoothly, but comes loaded with economic, monetary and business references of great relevance. In the chapter of corporate results, Santander and Iberdrola will preen this Tuesday, Aena on Wednesday, Telefonica, Sabadell or Bankinter on Thursday and BBVA, Bankia or CaixaBank on Friday.

The telecommunications operator is news this Monday Telefónica (+ 1.02%) because it has finally exceeded 8.25 euros. Overcoming this price level opens the door to the continuation of the increases to levels of 8.60 euros.

Another leading value in the Ibex was Mapfre (+ 2.13%). The insurer has led the earnings within the index after receiving a positive assessment from JPMorgan experts. CaixaBank (+ 1.42%), Sabadell (+ 1.41%) and Técnicas Reunidas (+ 1.34%) have also registered a positive performance.

Among the 'blue chips', in addition to Telefónica, Santander that increased by 1.2%, followed by Endesa (+ 0.37%), Repsol (+ 0.32%) and BBVA (+ 0.06%). On a negative basis, Inditex lost 0.16% and Gas Natural Fenosa lost 1.4%. The energy group has been one of the most bearish values ​​with Acerinox (-1.72%) and Indra (-1.53%).

TURN FOR THE BANKS

As for the rest, regarding the banks, the analysts of 'Bolsamanía' highlight that the extreme weekly 'oversold' ratings at BBVA give it an "interesting potential". You will have to see the impact that your accounts finally have on your quote.

On the results being published this week, the experts anticipate that they will win more than 4,000 million in the first quarter of the year. "Revenue growth and reduced exposure to bad loans (NPL) should remain the key issues for the quarter," the experts at Deustche Bank point out.

ECONOMY AND MEETING OF THE ECB

The indisputable business movement that will characterize the coming days must be added to one of the most important economic events of the month: the European Central Bank (ECB) rate meeting, which takes place on Thursday. Thus, there will be no shortage of catalysts to move the selective Spanish or the other stock exchanges, since the publication of results will continue equally throughout the world.

"We started the week with many preliminary indicators of activity for April before the attention is directed, towards the end of the week, to the European Central Bank, as well as to the preliminary figures of the US GDP for the first quarter," they say. the experts of Danske Bank in their daily report.

In Europe, data from the services and manufacturing sectors have exceeded forecasts in Germany and France and in the euro area as a whole. Similarly, data concerning the United States have also been above expectations.

THE POLITICAL TENSION LOOSENS ITS GRIP

On the other hand, it should be noted that the week starts with the clear sense that geopolitical tensions have calmed down. "The easing of geopolitical tensions is once again driving sentiment, and signs that Washington will reach an agreement with Beijing have put fears of a trade war between the United States and China in the background.

Meanwhile, North Korea agreed to suspend missile tests and close its nuclear sites, raising confidence as the summit approaches with the United States. After weeks of turbulent geopolitical tensions, investors are beginning to turn their attention to business activity and the ECB's actions, "says Jasper Lawler, an expert with the London Capital Group.

In other markets, the euro depreciates 0.59% to $ 1.2216. On the other hand, Brent oil fell 0.36% to 73.87 dollars, after marking annual highs last week and around 75 dollars since 2014.

TECHNICAL ANALYSIS OF THE IBEX 35

"Seventh consecutive session of our Ibex in which the minimums are increasing. It is true that the price recovery movement is very slow but the important thing is that it's going always upwards. The index js at the gates of the first resistance really, the 9,940 points (the highs of the end of February), "says José María Rodríguez, analyst of 'Bolsamanía'.

"And above and more importantly we still have 10,210 points, where we have an important bearish hole pending to be filled and go over. Closing it or what is the same to cancel it will be an important signal of strength that would make us shuffle as scenario more probably a return to the annual highs, but let's go step by step, tomorrow Santander publishes its accounts before the opening and without a doubt it will make our selective move with more joy than the one observed in the last two weeks ", adds this expert .

"Without a doubt, the most interesting title among the 'blue chips' is Telefónica, which has finally been able to close clearly above 8.25 euros, leaving the doors open (if the results are published this Thursday) to allow a movement towards the resistance of 8.60 euros and above 9-9.05 euros. In summary, despite the narrow price range in which the Ibex is moving in the last one and a half weeks the truth is that, little by little, many heavy titles are overcoming resistances or are about to do so, there's a good feeling about this, "Rodríguez concludes.