The Ibex consolidates 8,800 points thanks to Santander, Telefónica and the electric companies

The most bullish value of the Ibex is Endesa (+ 1.84%), followed by Telefónica (+ 1.63%) and Santander (+ 1.62%). The rest of the companies in the electricity sector also registered a positive day, although the main news of the day was that BBVA (+ 0.7%) has recognized an internal investigation into the hiring of Grupo Cenyt, a company linked to former commissioner Juan Manuel Villarejo , in 2004 to carry out, allegedly, investigations of various businessmen and journalists.

Vodafone Spain, which has announced a large cut of 24% of its workforce, which will involve the dismissal of 1,200 employees, was also news. The price war in the domestic market has been a blow to the British operator.

On the downside of the day, Siemens Gamesa (-2%), Amadeus (-1.6%) and IAG (-1.5%) were the least profitable companies. Although the main ballasts have been Inditex (-1.1%) and Caixabank (-1%).

THE FED AND OTHER MARKETS

The market is still talking about the latest meeting of the Federal Reserve (Fed), which met on Wednesday and that highlighted again the greater flexibility of the central bank in order to carry out further rate hikes.

In the currency market, the euro fell 0.18% in its cross against the dollar, down to $ 1.1518, after marking on Wednesday maximums of the last two and a half months.

And in the commodities market, Brent oil continues its great rally since the beginning of the year, although its rise of 0.26% to $61.60 is more limited than in previous days.

Finally, in the debt market, the yield on the 10-year Spanish bond is relaxed to 1.45% despite the fact that the Government has slightly reduced (one tenth) its growth forecast for 2019, down to 2.2% , due to the strong fiscal adjustment that must be made since the deficit target did not relaxed.

COUNTDOWN FOR THE BREXIT

Brexit is still the main issue in Europe as the countdown to the vote in the British Parliament on Theresa May's plan, which will take place next Tuesday, continues. On Wednesday May suffered another tough defeat as the House of Commons passed an amendment that requires her to present a 'plan B' for Brexit to the British Parliament within three days if he loses the vote next week, which seems very probable.

Experts remember that there are less than three months left until the Brexit deadline is reached and they agree that we are in "unknown territory" and that it is very difficult to predict how this will end. The option of a Brexit without agreement is there, although there are also others, such as repeating the referendum.

THE "EXCUSE" FOR THE RISE

Link Securities experts point out that the "excuse" for the rise today in European markets is the December inflation data published in China, "which points to a greater weakness of its economy than expected " This reference is not the first published by the Asian giant at the start of the year that has been negative.

However analysts at Link remain optimistic, and say they are "convinced" that the Chinese government, which can not afford a strong slowdown in its economy for political and social reasons, will do everything in its power to prevent it, starting by closing a commercial pact with the US and continuing to implement expansive fiscal policies. Today it has been known that it plans to lower taxes on small businesses.