The Ibex loses the 10,100 points in a fall of 0.71% in the penultimate session of 2017

The Ibex 35 faces the last sessions of the year with the objective of going over the 10,200 points and reaching the revaluation of a 9% this 2017. Nevertheless, this Thursday the downwards drop has continued: the Spanish selective has fallen a 0.71% down to 10,093 points, so to speak, under the level of the 10,100 points. This adds to the retrogression of the 0.15% that it experienced this Wednesday.

Only eight companies have managed to end the session in green, the ones that have risen the most being Abertis (+0.47%), Acerinox (+0.34%), Aena (+0.32%). Regarding the airport company, it should be mentioned that this Thursday it made known that it would invest 90 million euros in the purchase and the installation of automatic equipment for the border control, Automatic Border System, with the objective of adapting to the new rules of the EU.

Returning to the Ibex, the lowest figure of the session has been from Endesa (-2.27%), followed by Técnicas Reunidas (-2.19%) and the textile giant Inditex (-1.57%). The rest of the big fishes or blue chips of the index, apart from Amancio Ortega’s company have also closed with sales this session (BBVA: -0.93%; Banco Santander: -0.77%; Repsol: -0.03%; Telefónica: -0.78%).

It should also be mentioned that Iberdrola has fallen a 0.77% in spite of announcing on Thursday that the recently passed US tax bill will generate 1,700 million in earnings in their 2017 accounts.

Likewise, the banking sector has also seen itself affected by the losses. Specifically, CaixaBank that has gone down a 0.89% this session; Banco Sabadell, a 0.36%; and Bankinter, a 0.30%. Only Bankia has saved itself from the red.

OTHER STOCKS AND MACROECONOMICS REFERENCES

In Europe the end of year inertia is being passed, since the main stocks (the FTSE100 in London and the CAC40 in Paris and the German DAX 30) have also closed with sales.

On their part, Wall Street has closed with rises the past Wednesday and at the close of the Spanish market it was also in green in its three main indices, with rises of 0.09% average.

Regarding the macroeconomic references, that in this session have also been few, it should be highlighted that this Thursday the European Central Bank has published its monthly economic bulletin in which among other things it predicts that Spain will reduce its global deficit under the reference value of 3% of the GDP before 2018.

Also the Inland Revenue and Public Function minister, Cristóbal Montoro, has said this Thursday that the deficit of all public administrations closed the third trimester of the year in the 1.5% of the GDP.

TECHNICAL ANALYSIS

For José María Rodríguez,the technical analyst of 'Bolsamanía', “the session this Thursday, the penultimate of the week, confirms if there was still any doubt that our index is very weak”.

In fact, he assures that the “continuous and slow drop of the last sessions leave the doors open to the possibility that it sets itself a challenge in the next few days in the support zone of the 9,900 points. We find the resistance zone in the 10,600”.

“And as how we have commented in many occasions only over this resistance may we talk about a before and after in the Ibex 35. If we look at Telefónica it has marke a new annual minimum, given so the continuity of the impeccable maximums and waning minimums from the past month of March and it accumulates a fall of 20% from the maximums of the year (10.17). Therefore things have to change drastically in the next few days or I’m afraid that we are going to have to try out the support zone of the 9,900 points and cross our fingers that we don’t lose them”, concludes Rodríguez.