The Ibex rises 3.5% in April and increases in value 12% in 2019

Santander (-0.18%) has published its results for the first quarter this morning, in which it has gained 10% less due to write-downs. For its part, BBVA (+ 0.06%) did the same on Monday, after the close. The entity earned 10% less for provisions in the US and Turkey.

Caixabank has also confessed to the market this morning and its shares have been the most punished of the Ibex, with a fall of 2.74%, after announcing that it reduced its profit by 24.3% up to March. For its part, Telefónica (-1.04%) was the fourth worst value, after a cut by Kepler.

Repsol's results(+ 2.61%), which reported a slight fall in its results due to lower oil prices, and Unicaja (+ 1.39%), which has increased its profit, also published today.

THE MARKET CONTINUES TALKING ABOUT ELECTIONS

Therefore, a lot of business movement today (Samsung, BP or Airbus have also published results), although it is still focused on the current political situation in Spain. The possibility of a PSOE government that does not have the support of the pro-independence supporters becomes crucial, as an aspect that the market would be considering positively.

In any case, investors are already looking at the elections on May 26 and are once again worried about Brexit, which will soon be "reactivated" and having the entire market in suspense. The deadline to approve the exit of the United Kingdom from the European Union ends at the end of May. Otherwise, England will have to go to the European elections.

TECHNICAL ANALYSIS

"Without making a lot of noise, the Ibex continues to climb and closes the month of April with a positive balance of more than 3%." All this suggests a short attack of the resistance zone that it presents at the annual highs (9,588) and above which we believe that can look even to the area of ​​9,700 points, where a potential medium / long-term weekly bearish directrix passes, in theory, the area of ​​9,700 points can be quite choking us ", highlights José María Rodríguez, an analyst at Bolsamanía.

"And within the great values ​​and not taking into account the last dividend to be distributed, we return to the title showing a clear strength." Thus, the falls of recent days towards the area of ​​26.10 euros corresponds to the cent, with a new support (the third) to the bullish guideline that joins the increasing lows since the end of December, "he adds.

"It seems that now it can set course towards the resistance of 29.35 euros (the highs of 2018) And you know that when the textile giant starts to throw it is difficult for the Ibex to correct." The base of the bull channel of the Ibex, which is where we have the most important support at this moment, goes through the 9.340 points and as long as the price keeps moving within it there is nothing to worry about, "the analyst concludes.