The Ibex goes over 9,330 points supported by the rise of Siemens Gamesa
The Spanish selective has a technical resistance at 9,300-9,330 points
The Ibex has traded with outstanding increases on Monday (+ 0.7%. 9,319 points) supported by the push of Siemens Gamesa that has skyrocketed 8.49% after it was known that Siemens is willing to buy Iberdrola's stake . Since the news has been known at around 2 pm, the company's shares have gone from 13.12 euros per share to 14 with which it has closed.
IBEX 35
11.427,800
-
-0,34%-39,50
- Max: 11.474,90
- Min: 11.417,40
- Volume: -
- MM 200 : 11.289,95
Other titles that have supported the Ibex in its rise are Bankia (2.74%) and ArcelorMittal (+ 2.89%). The selective and the rest of the stocks have opted for quite a few days to adopt the 'Christmas mode' and for tranquility, with movements that are usually more intense in the early hours and then moderate.
This week will probably be marked by that calm because Thursday is Thanksgiving in the US and that day the stock, futures and bonds markets will be closed across the Atlantic. On Friday, the Black Friday (discount and shopping day) takes place, Wall Street only opens for half a session.
The rises this Monday are motivated, again, by the news about the United States and China. US National Security Adviser Robert O'Brien said on Saturday that the so-called "first phase" agreement with China could be reached by the end of the year. However, he also stressed that Washington would not turn a blind eye to the Hong Kong protests. Precisely in Hong Kong, pro-democracy candidates have swept this weekend in local elections that are considered a plebiscite.
Back in Europe, Britain's two main political parties have launched their manifests to win over the public before the crucial December 12 elections. The opposition Labor Party began last Thursday with a manifesto that promises a tax on oil companies and the revitalization of some industries, while conservatives launched their own plan for the United Kingdom that includes 50,000 additional nurses in the National Health Service.
In corporate news, France's LVMH has reached an agreement to buy American luxury jewelry Tiffany & Co. for $ 16.3 billion. In addition, Novartis has agreed to purchase Medicines for 6.8 billion dollars.
Finally, regarding the data calendar, the November German IFO of business confidence has remained at 95.0, in line with expectations and compared to the previous 94.7. The IFO business expectations stood at 92.1 compared to the planned 92.5 and the previous 91.6. The current IFO is at 97.9, in line with expectations and above the previous 97.8.
TECHNICAL ANALYSIS
For José María Rodríguez, technical analyst of 'Bolsamania' there are reasons to be optimistic, "the Ibex has not been able to start the week better, closing the bearish hollow (resistance) of 9,307 points and with a small bullish hollow (support) that can end being a weekly hollow at 9,254 points. "
"Moreover, we can see a small double floor that, in theory, should throw us into the area of annual maximums (9,588), after stopping at the resistance of 9,500 points (the 'reversal' maximums of the session of the 17th October, "says the expert.
"It seems that we are moving away from the short-term key support of 9,130 points and, in addition, the stochastic moment oscillator seems to want to turn upward as well. Summing up, every day that passes the sensations are better, although it never hurts to remember that the key is to respect the support of 9,130 points, "he concludes.
