Ibex in the red for ninth consecutive day

The Ibex 35 has forgotten how to rise. The index has now strung together nine sessions in a row in the red, making it its worst streak for the last two years. In December 2015 it registered 10 negative days in a row. On Monday it fell 0.42% to 10,049 points, and is now a step away from falling below 10,000.

Siemens Gamesa picked up the wooden spoon for the session with a loss of 3.18% to 10.21 euros. The company, which reported results last week, announced 6,000 job cuts in the next three years.

In the bottom part of the table it was joined by Tecnicas Reunidas, the third biggest faller after it fell 16% on Friday, and today 2.45%. IAG also had a bad day, falling 2.31% despite Deutsche Bank pointing out it is the cheapest value in the FTSE 100.

On the other hand, Caixabank registered the biggest gain, 1.22% up to 3.91 euros. It was followed by Merlin Properties, which was up 0.69%. Amadeus was the third best with a rise of 0.64%. The company has regained 50% in the last year and multiplied five times since its debut in 2010.

The big company news of the day was Colonial after it launched an offer for Aixare. The property firm fell 2.36% to 7.52 euros, while Aixare was up 12.4% in the general exchange. Colonial said on Monday it controls 29% of Axiare after surprisingly purchasing 14% of its capital. Both firms started to quote later in the day after the CNMV suspended their shares during the day.

OTHER MARKETS

The red was extended to the rest of Europe. The CAC 40 in France fell 0.89%, the DAX 30 by 0.53% and the FTSE 100 closed down 0.22%. Wall Street opened slightly higher as investors await further news on fiscal reform.

Oil continues to to hit new highs after OPEC prolonged its restriction on crude oil. Brent was slightly down at $63.5 while US mark West Texas was up 0.4% to scratch $57.

In forex, the euro fell 0.09% against the dollar. The common currency is at $1.1655. The pound was down against the euro slightly at 1.1249 euros.

ECB vice president Victor Constancio pointed out his support for the bank’s monetary policy, saying that there were no convincing inflationary pressures.

TECHNICAL ANALYSIS

“The only interesting thing about today is that we have marked a low of 9,984 points, sealing the important support zone that we have at October lows of 9,922 points,” said Bolsamanía analyst José María Rodríguez. We close far from the lows of the day with the hope that in any moment we will see a rebound inside the current corrective phase.