Ibex without clear course but with the 8,700 points as reference
Oil rose again above $ 47 after a new wave of optimism
European stocks are on the rise on Wednesday as the dollar takes a breath. The US currency fell during the US session slowed by the increase in bond yields. In Spain, Ibex has a new opportunity to consolidate the level above 8,700 after a gray day in which it was oscillating between the positive and the negative all the time.
IBEX 35
11.605,500
-
-0,91%-106,30
- Max: 11.634,90
- Min: 11.575,00
- Volume: -
- MM 200 : 11.134,59
The Spanish index has started the week without a clear course. After spending most of the day on Tuesday oscillating between red and green, the chart leaves the area of 8,700 as the level from which it is difficult to climb for Ibex.
One of the shares to watch is Indra, which after presenting results on Monday afternoon closed on Tuesday with falls of 12.09%. In the banking sector, Banco Popular continues to raise doubts, which after losing almost 3% in the last session, accumulates so far this year a fall of 66% of its stock market value. The company is still immersed in the dismissal program of 2,592 employees, of which it has already covered 86%.
INVESTORS ARE FOCUSED ON FED
Investors continue monitoring which economic policy moves will carry out Donald Trump. The Republican has said openly that he plans to increase investment in infrastructure and cut taxes to stimulate the economy. These actions would boost inflation, making it more likely a rate rise by the US Federal Reserve.
Robert Kaplan, chairman of the Federal Reserve of Dallas, said Tuesday that it is time to start raising and "normalizing" interest rates, as these low levels distorted the market. Although Kaplan does not have the right to vote, his opinion is in line with what a large number of analysts is claiming.
PETROLEUM IS BACK
In the crude oil market, the Brent barrel price jumped more than 4% on investors expectations that the agreement of the Organization of Petroleum Exporting Countries will be fulfilled. According to experts, the freezing of oil production at 32.5 million barrels per day is closer, but will not be known until next 30th November, when Vienna's meeting is dated. Today there is data on crude inventories in the US, so that Wednesday could again have volatility in the prices of 'black gold'.