The Ibex reconquers 6,800 points thanks to the tremendous rally in the tourism sector

Meliá has shot up more than 26%, as has NH (+ 27%). The travel agency eDreams has flown 20%, while the airline IAG has rebounded 13% and the airport manager Aena almost 5%.

"The time has come," Sánchez said. "We intend to guarantee the reactivation of national tourism in the face of this same summer season," and "foreign tourists can now also plan their vacations in our country," he added.

The leading role of tourism has occurred in an atypical day, without the references of Wall Street or the United Kingdom due to bank holidays, and in which European investors have discounted that Germany's GDP contracted 2.2% in the first quarter of 2020 compared to the previous three months, when it was down 0.1%.

The data had already been published in a preliminary way in the middle of the month, but confirms the entry into technical recession of the largest European economy and represents its most severe contraction since the global financial crisis of 2008/2009, as well as the second largest since the unification of Germany, according to the Federal Statistical Office (Destatis).

Therefore, the market has paid more attention to the German IFO in May, which has exceeded expectations. The business confidence index has risen to 79.5 from 74.3 and has exceeded the expected 78.3. The IFO of business expectations has rebounded to 80.1, compared to the expected 75.0 and the previous 69.4. "The first relaxation (of confinement) provides a ray of hope," said IFO President Clemens Fuest.

The forecast of a gradual recovery in activity continues to be reflected in other assets such as Brent oil, which is up 1%, to $ 35.44. Furthermore, the euro depreciates slightly by 0.05% and changes to $ 1.0895, while the yield on the Spanish 10-year bond continues to relax to 0.68%.

On the geopolitical scene, tensions between China and the United States, meanwhile, have returned to the spotlight. White House national security adviser Robert O'Brien said Sunday that China is likely to face sanctions from the United States if it passes the Hong Kong bill, and warned that this decision could lead to residents and businesses flee the city and this ends its status as a global financial center.

In addition, US President Donald Trump has continued to attack China for the coronavirus by declaring that the Asian giant could have stopped the coronavirus "if it had wanted to". "It has reached the whole world, but it has not affected China very much," he assured.

IBEX 35 ANALYSIS

"It seems that it can be the good one. The Ibex approaches without making much noise to the resistance that it presents in the 7,000 points and that corresponds to the straight resistance that joins the declining maximums of April and May. Although the most important resistance is the one we have in the highs of April (7,210) ", explains José María Rodríguez, analyst at Bolsamanía.

"Only above this last level will we have confirmation of a new bullish section that can take us to 8,000 points, coinciding with an adjustment / fall of 50% of the drop experienced during February and March. And below, on the side of the supports, we have 6,420 points: the lows of a couple of weeks ago, "concludes this expert.