The Ibex walks towards 7,200 points while reacting to the latest results

This Thursday Repsol and Bankinter figures have been published

Bolsamanía
Bolsamania | 23 jul, 2020 09:44
ep senal en la calle que indica la bolsa en madrid cerrada hoy al publico despues de que el ibex 35
Eduardo Parra - Europa Press

The Ibex ended the last session with large falls and below 7,400 points and today it continues to show signs of weakness (-0.2%). The two most important companies that have published results, Repsol and Bankinter, trade with slight falls, while Cellnex rises with enthusiasm. This Wednesday, after the closing, it announced a capital increase of 4bn.

IBEX 35
11.450,900
  • -0,14%-16,40
  • Max: 11.474,90
  • Min: 11.399,10
  • Volume: -
  • MM 200 : 11.289,95
11:31 23/12/24

Wall Street, meanwhile, ended positive on Wednesday while in Asia the day had a mixed sign. After closing on the other side of the Atlantic, Tesla's results were released, with revenues 12% higher than expected. Elon Musk's company rises 4% in the 'after hours'. Microsoft also published at closing figures that exceeded expectations.

Investors remain highly concerned about the pandemic situation, especially in the US, not to mention tensions between the world's two main economic powers.

CNBC reports that the tension between China and the US is set to accelerate, "breaking economic ties and forcing investors to reevaluate their view of world markets." In this sense, they highlight the closure of the Chinese consulate in Houston by US order, alleging that it is a necessary step to protect the intellectual property and private data of citizens. The 'South China Morning Post' reports Thursday that China will close the US consulate in Chengdu in response, which, if true, seems like a "rather measured" response, analysts at CMC Markets say.

As for the rest, the latest news related to medical advances speak of the agreement the US has reached to manufacture and distribute millions of doses of the vaccine from Pfizer and BioNTech. The US will pay companies $ 1.95 billion.

In the commodity market, gold is poised to hit its all-time highs, while this week alone silver has risen 18% to its highest levels since October 2013. "Rising geopolitical tension between the US and China is probably also helping this behavior, "writes Michael Hewson, chief analyst at CMC Markets in London.

On the macro data calendar, weekly jobless claims across the Atlantic are released today, expected to rise by 1.3 million. Analysts say there is concern that these will begin to rise at a slower pace after several weeks of lower figures, as several US states have re-imposed the blockade measures.

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