Ibex faces a monthly fall of 5% in November

The Ibex 35 has closed with a rise of 0.55% to 8,667 points. Despite this however, the Spanish index will face the last session of the month with a fall of 5.2% for November. In Tuesday's session, the banks managed to turn round their fortunes by closing higher, after dragging the Ibex to a loss on Monday.

IAG led the advances in the market with a rise of 2.58% to 5.24 euros. It was followed by Gamesa, which rose 2.43% to 19.56 euros. However, the banking sector must be pointed out above all. Banco Popular finished Tuesday with a rise of 2.08% to 0.78 euros, despite losing 8% o Monday and taking the wooden spoon.

Banco Santander is the highest performer of the heavyweights, after finishing 1.24% higher at 4.26 euros. The European Central Bank has requested that the Spanish bank for capital of 7.75%, and given it means for the payment of its dividend.

Among the risers on Tuesday, the investors' eyes have rested on Telefonica. Citigroup has bet on a rise of 115% for the telecoms company. In addition on Monday its president María Álvarez-Pallete bought 40,000 shares in the company. On Tuesday the stock gained 0.95% to 7.89 euros.

On the other side of the table, Acerinox was the biggest faller after dropping 2.1% to 11.80 euros. Aena followed it after dropping 1.47% to 127.30 euros.

However, on Tuesday one of the biggest stories was Indra, which launched a bid to take over Tecnocom for 4.25 euros per share. The tech company reached an agreement with shareholders of Tecnocom, which controls 52.7% of its capital. The two companies closed with differing results, as Indra closed with a fall of 1.23%, while Tecnocom rose 6.3% in the stock exchange.

In the rest of the European markets there was mixed signals. The CAC 40 in France rose 0.88% and the DAX 30 in Germany by 0.25%. However the FTSE 100 in London fell 0.45%.

In the commodity markets, oil is the main thing occupying investors' minds. Wednesday brings the start of the OPEC meeting in which the oil producing nations hope to arrive at an agreement with regards to production levels of the commodity. At the time of closing, the price of crude had fallen 4%. In the case of European benchmark Brent, the fall was 3.67% to $46.47. Repsol finished with a fall of 0.29% to 7.89 euros.

Wall Street finished with slight rises after the publication of GDP figures in the United States. The US economy grew 3.2% in the third quarter of the year. This represents its fastest growth in the last two years.

José María Rodríguez, Bolsamanía technical analyst, said that the Ibex 35 continues to operate in a narrow price range. "We haven't gotten close to the closest resistance zone of 8,756, nor does it look like we will threaten the lower mark of 8,540-8,550 points. This is how the sessions are going," said Rodríguez.