The Ibex loses 0.11% after the wrestle between the banks and the energy sector

The week has begun with a new avalanche of results, although not as "A-list" as last week. The main reference were the results of Bankia, which fell by 2.19% on the stock market after reporting a 22.3% drop in its net profit for the first half. The entity has also announced that it will not earn the expected to 2020.

BBVA's results will be viewed with magnifying glass on Wednesday. The figures themselves will not be as important as what the bank officials have to answer about the Villarejo case in the presentation of the results. The latest news is that the judge has decided to charge the entity as a legal entity for the crimes of active bribery, disclosure of secrets and corruption. In today's day, its titles have lost 0.64%.

Outside of business, an important week begins for central banks. The key event will be the Federal Reserve (Fed) meeting, which begins tomorrow and whose conclusions will be known on Wednesday. The market expects a rate cut of 25 basis points. There will also be a meeting of rates of the Bank of England (Thursday), at a critical moment in which the possibility of a hard Brexit becomes more and more powerful.

At the moment, the London Stock Exchange has not been affected by threats of an exit without agreement by British Prime Minister Boris Johnson to the European Union (EU). Today, the Ftse 100 has risen 2%, driven by two corporate operations: the Just Eat-Takeaway merger and the purchase of Refinitiv by the London Stock Exchange (LSE).

USA AND CHINA WILL MEET THIS TUESDAY

Investors are once again focused on the trade war. It is planned that both parties meet on Tuesday. Meanwhile, China's Foreign Minister Wang Yi has said his country will not succumb to any "maximum pressure" exercise in trade talks with the US.

Also from the United States, today there is talk of the dismissal, by Donald Trump, of another of his trusted men. Dan Coats, director of National Intelligence, who will leave office on August 15 over his disagreements with Trump on how to deal with Russia.

TECHNICAL ANALYSIS

"The Ibex starts the week practically flat, and with an eye on the support it presents in the bullish hole of last Tuesday at 9,160-9,170 points. Be careful to close this hole because we will no longer have any important support until 9,060 and below 8,900 points. And above, we already know: those "famous" 9,410 points that we have referred to so many times, "says José María Rodríguez, an analyst at Bolsamanía.

"Regarding values we highlight the new minimums of all time in Banco Sabadell and Unicaja. And Bankia, little by little also seems to have set course for the historical lows: the 1.63 euros that it marked at the end of May 2013. The banks are still extremely weak and without them it is impossible to climb / bounce more or less steadily, "he adds.

"For this Tuesday we will follow Enagásm closely, which publishes results after the 23% crash since the June highs. The title has not rebounded in the slightest and we already know those prices, even if it were to continue falling, it must experience important rebounds against trend (or reaction phases). Therefore, it cannot be ruled out that it tries to rebound, until at least the significant resistance it has in the 20.88 euros (bearish hollow of the July 8 session) " , concludes the analyst.