The Ibex holds the 9,700 points despite closing in red

Another session of more to less of the Ibex 35, that has closed with a fall of 0.33%. Despite having closed in red it has been possible to maintain the mark above the level of 9,700 points. Specifically, the selective has closed at 9,721 points. The day has started with increases, but banks have been deflating.

ArcelorMittal was the red lantern of the session, with a fall of 3.26%, despite the fact that in the previous sessions it was the value with the best performance. The commercial war between the US and the European Union takes its toll on some of the values ​​and the steelmaker is one of the most exposed to the US.

In the lower part of the table has been accompanied by DIA, which has been 2%, although the session has started positive. Técnicas Reunidas was the third worst value of the Ibex, with a drop of 1.7%. This Thursday we must highlight the fall of 0.87% of Telefonica, after yesterday broke its negative streak of seven consecutive sessions of falls. The currencies, "the problems of reputation" and football are the three burdens of the company.

Among the large companies, we must also mention the fall of 0.51% registered by Iberdrola and 0.2% by Inditex. On the other hand, banks have been a sector that has registered a bad session: BBVA has also fallen 0.47%.

However, a bank has taken center stage this Thursday. Banco Sabadell has announced the transfer of almost all its brick to Cerberus, which means that it closed with a rise of 0.54%, although during the session it has risen more than 4%. The entity has agreed to transfer almost all of its real estate exposure to a subsidiary of Cerberus Capital Management. The real estate assets subject to the Transaction have a total gross book value of approximately 9,1bn euros and a total net book value of approximately 3,9bn euros.

But only one bank has been able to follow in the wake, Banco Santander closed with a slight rise of 0.11%. However, ACS has led the advances of the Ibex thanks to a 1.5% rise to 36.4 euros. On the green side of the table, Repsol rose 1.2%, driven by the rise of more than 1% in the price of oil. In addition, the company has received an improvement in its target price from Credit Suisse.

In the main board, the National Securities Market Commission has admitted Minor's takeover of NH Hotel. The company has fallen 0.08% to 6.33 euros. Minor offers 6.4 euros per share in the offer, although it would be 6.3 euros because the 0.1 dividend dividend will be discounted.

OTHER MARKETS

The rest of the stock exchanges of the Old Continent closed in red, except in the case of the FTSE 100 of London that has gone up slightly by 0.08%. On the other hand, the German DAX 30 has fallen by 0.66% and the CAC 40 of France, by 0.6%. Wall Street is down 0.3% on average as it waits for Microsoft's results to be known at the close of the US market.

In the commodities market, oil has turned around and is currently trading higher in green after it is known that production in Saudi Arabia has not registered significant changes. The barrel of Brent is trading with a 0.44% rise and loses 73.22 dollars. For its part, the barrel of West Texas, a benchmark in the US, amounts 1.47% to 69.77 dollars. On the other hand, the euro continues to fall in its change against the dollar to 1.16 'greenbacks'.

TECHNICAL ANALYSIS

"The penultimate session of the week leaves us with the same taste as any of the previous ones, it is true that it closes away from the day's highs, but in reality it has no chartist implications of any kind," says José María Rodríguez, analyst technical staff of Bolsamania. The expert adds that the selective remains embedded within the triangle and, in addition, in anyone's area. Far from the control areas, above and below. This is 10,070 and 9,470 points respectively.

Banks, beyond punctual bounces like those we saw on Wednesday, "are still weak." And Telefónica does not help either. If the operator bounced 9% during the first sessions of July, it now accumulates a drop close to 6% from the highs of the rebound. Or what is the same, run the danger of losing what you earned during the first week of the month. "And let's cross our fingers because we do not perforate the support that is present in the annual minimums (7,16) .To do so will be a clear and more than worrisome sign of weakness because it would be drilling downwards which seems to be a mid-term bullish guideline. ", explains Rodríguez.

In addition, the fact that our European neighbors are close to important resistances leaves the door open for them to decide to take a well-deserved rest. "And do not doubt that if they decide to correct us, that we are much weaker, we will do it too, and maybe with greater violence, although unfortunately we are more than accustomed to the greater weakness of our Ibex", concludes José María Rodríguez.