The Ibex breaks with the tradition and rises 0.12% after the triumph of Pedro Sánchez

The victory of the PSOE - despite the fact that it seems that Podemos, a party that does not like the market, will be part of the government - is not the worst scenario for the Ibex. The most dramatic scenario would have been having to repeat the elections, with the uncertainty that this implies.

The experts consulted by Bolsamanía highlight that this result ensures the governability of Spain and also that it supposes political continuity. All this adds up favorably as well as the fact that a traditional party on, which is always preferable to the triumph of new formations with more radical approaches. They are also focused on May 26 when there are European, local and regional elections.

BANKS VS ELECTRICAL

So investors have been focused on Monday on the election result and on more business results. In this sense, Bankia (+ 2.92%), was the second most bullish value, after publishing its results, with a fall in profit to March of 10.8%, to 205m euros. Remember that BBVA will also announce its accounts at the close of the market today.

Behind Bankia, Caixabank (+ 2.82%) and Sabadell (+ 2.61%) were the companies with the highest profits. On the other side of the table, Ence (-4.78%) has been the most punished value, given that the PSOE's victory means that its crisis with the Pontevedra plant persists and can end at the end of it.

The electricity sector has also the other major falling sector of the session. These companies usually lead the cuts after an election, because their operation depends largely on regulation. Before the victory of Pedro Sánchez, Iberdrola has left 1.37% and has been the second worst value of the Ibex; while Cellnex has yielded 0.94%, Endesa 0.81% and Red Eléctrica 0.3%.

TECHNICAL ANALYSIS

"Very good the sensations that the Ibex leaves us after falling to almost 1% minutes after the opening to finish closing at the maximum of the session and green numbers (+ 0.12%) .This invites for optimism and more the day after the general elections, since from 1993 the Ibex has always fallen on the Monday after the elections and, in addition, on occasions it has done so violently, "says José María Rodríguez, analyst at Bolsamanía.

"Therefore, very good closing after all, otherwise, everything is more or less the same, the month of April, which only has one session left, has been of absolute laterality. It has perforated supports and thus, the index is correcting the previous important rises: consuming time (lateral movement), instead of correcting in depth (falls), "he adds.

"At this point I do not rule out that from here our selective tries again with the resistance that it presents at the maximum (9.588) and above we have a very strong resistance in the area of ​​9.700-9.750 points. Below, on the support side, we have the base of the short-term bullish channel, now at 9,330 points ", concludes the analyst.