Ibex closes above 8,540 despite 0.1% fall

The Ibex 35 finished higher than 8,540 points despite having fallen 0.1% to an interday low of 8,558 points. The index closed on 8,614.6 and pent the session flitting between green and red.

Dia was the biggest faller on Monday. The supermarket chain was 3.3% lower to finish on 4.45 euros, and cement a 20% drop during the last month after it posted its quarterly results. Cellnex was the second worst stock with a 2.18% fall to 13.23 euros, followed by Mediaset which was down 1.96% to 9.44 euros.

Banco Popular once again was in the red end of the table, increasing its yearly fall to 68%. On Monday the stock lost 0.81% as it closed on 0.85 euros.

Bankia is also one of the main protagonists in Monday's session, after Deutsche Bank saw it as a "clear buy". According to a source from Bolsamania, the bank is much sought after from Germany. It fell by 0.35% too 086 euros.

On the other hand, Mapfre was the leader of the advances with a rise of 1.28% to 2.77 euros. Indra was the second-highest riser with 1.25% to 9.72 euros. The third in the table was Endesa (1.2% to 18.16 euros).

Amongst the heavyweights of the index, only two have finished positive. Repsol registered a rise of 1.03% towards 12.29 euros, owing to the rise in oil prices on Monday. Banco Santander was slightly higher.

Away from the Spanish index, Abengoa will celebrate its restructuring. The Type A stock of the company fell 2.98% to 0.45 euros, while the Type B increased 0.52% to 0.194 euros.

In the rest of the European stocks, there has been mixed signals. The CAC 40 in France rose 0.52% and the German DAX 30 by 0.11%. The FTSE 100 fell slightly (0.07%).

The Italian banks were the protagonists on Monday again. Banco Popolare fell 3.72% to 1.86 euros and Monte dei Paschi fell 4.65% towards 0.23 euros. The Italian referendum on constitutional change was the most likely factor in the values falling.

At the hour of closing in Euro markets, oil was quoted with a boost of an average 3.5%. Vladimir Putin was optimistic on Monday about the chances of OPEC approving a deal to cut production of the commodity.

José María Rodríguez, Bolsamanía technical analyst, explained on Monday that the Ibex opened with light advances, but followed with a further fall, owing to the banks and Telefonica.

"The Ibex began the day with a session low of 8,558 and although slowly it began to regain its position," Rodriguez said.