The Ibex accelerates to 8,600 points driven by banks and tourist stocks
Banks leave the fall of Archegos Capital behind and rebound strongly
The Ibex 35 accelerates and rises 1.3%, to 8,607 points, driven by banks and values associated with tourism. The selective seeks to attack the resistance of 8,624 points, maximum of the bearish gap of a week ago. "If it manages to overcome this resistance, it is probable that we could end up seeing an extension of the earnings until the level of 9,000 points," says Cesar Nuez, analyst at Bolsamanía.
Investors' attention will continue on the news that may arrive from MásMóvil's takeover of Euskaltel, which shows its effect on Telefónica, the worst of the selective this Monday, with falls of almost 4%.
At the business level, Cellnex is also news, which has announced an issue of 193m shares at 36.3 euros for its capital increase of 7bn.
But without a doubt, the start of the session will be marked by the impulse of import prices in Germany, which return to positive territory and soar to 1.4% in annualized terms, from -1.2% previously and for above the 1% expected. Month by month, the indicator has scored 1.7%, above market expectations of 1.3%.
Operators are also keeping an eye on the news coming in from vaccines. In particular, a district in Germany has announced the suspension of the inoculation with AstraZeneca to women after two new cases of thrombosis. Specifically, a 47-year-old patient has died and a second, 28, is hospitalized. Canada has also announced the disavowal of the doses of the Anglo-Swedish company in people over 55 years.
The information that comes from the US, on the other hand, is the opposite. The immunization campaign is going from strength to strength, following the announcement by the president, Joe Biden, that 90% of the population will be able to be vaccinated as of April 19. Despite everything, the US president has issued a warning about a return to normalcy too quickly given the increase in infections by Covid-19. In any case, the experts at Danske Bank, like other analysis houses, continue to bet on a rapid recovery of the US economy, in contrast to Europe, which will lag behind.
The news on the other side of the Atlantic also goes through the infrastructure plan of 3 trillion dollars that Biden will detail this Wednesday and that has once again raised the yield curve of US debt. The 10-year bond has soared to 1,728% this past morning and the dollar has marked a one-year high against the yen. The euro / dollar remains around 1.1750-60 dollars.
Monday's session on Wall Street noticed the influx of this news and the Dow Jones ended up reaching a new all-time high. However, in the rest of the indices the collapse of the hedge fund Archegos Capital Management has weighed them down, whose positions, valued at 30bn dollars, were liquidated last Friday and have caused a strong impact on some investment banks, such as Nomura, Credit Suisse, Deustche Bank and Goldman Sachs.
In Asia, it was the decline of Nomura precisely what has marked the session, which has fallen an additional 1.5% after the 16% drop on Monday. The Nikkei ended the day flat, while the Topix fell almost 1%. The rest of the continental stock markets have closed with moderate earnings, with increases in the Chinese stock markets of more than 1% in the Shenzhen component and 0.6% in the Shanghai component. The South Korean Kospi has also posted earnings above 1%, while the Australian ASX200 lost 0.61%.
In other markets, bitcoin rises of 4% to almost $ 58,000 after Visa's announcement that it will start testing payments with cryptocurrencies. Oil falls marginally, like gold and other metals. The refloating of the stranded freighter in the Suez Canal will also continue to make headlines after the reopening of maritime traffic.
