The Ibex closes above the 9,800 points after two months

Mediaset has been the value that recorded the highest rise in the Ibex 35, up 2.9% to 8.34 euros. This Thursday, the television company will be in charge of presenting its first quarter results. Melia Hotels closely follows the rise in the upper part of the table with an increase of 2.72% to 11.71 euros.

This Tuesday we must highlight the 2.3% increase that Inditex has registered, which has allowed it to stand at 25.2 euros. The textile company is the second value that falls more in the accumulated of the year, despite the rise of this session. All the heavyweights of the Ibex have managed to close in green: Iberdrola has risen 0.9%; Banco Santander, 0.7%; Telefónica has advanced by 0.16%; and BBVA, a slight 0.02%.

On the green side of the Ibex, it should also be noted that Abertis has slightly increased its value (+ 0.05%) and ACS has risen strongly (+ 1.2%), after the highway concessionaire accepted the joint takeover bid from Hochtief (ACS) and Atlantia. The decision was adopted unanimously by the Abertis board. The concessionaire gives the go-ahead at 18.36 euros per share offered by Hochtief.

However, Cellnex, which is also involved in this bidding process, has been the red lantern of the session with a fall of 2.3%. Atlantia has ratified the sale to the Benetton family, its controlling partner, of the 29.9% stake of Cellnex, the subsidiary of mobile telephony antennas of Abertis, which will buy this group of concessions, an operation estimated at 1,498 million.

In addition to Cellex, this session has also seen Acciona, Banco Sabadell and Técnicas Reunidas. For its part, Indra has remained flat at 11.1 euros. On the other hand, Aena closed with a slight rise of 0.03% to 167.4 euros after Moody's raised its rating to A3 with a stable outlook.

In the Continuous Market, Abengoa has reached an agreement with Algonquin Power for the sale of 16.47% of Atlatica Yield. This announcement has made the 'A' shares of the Spanish company up 25% and the 'B' 12%. Duro Felguera is another one of the companies that has shot up this session, 2.3%, after achieving its third extension of its financial truce with banks.

Grupo San José has also risen strongly, by 5.36%, after the green light to 'Operation Chamartín'. The operation includes the construction of 10,500 homes, the remodeling of the Chamartín station in Madrid and the construction of a large business center in the vicinity.

OTHER MARKETS

On the other hand, the stock markets of the Old Continent have closed with important increases. Thus, the DAX 30 has risen 1.67%; the French CAC 40, a 0.99% and the FTSE 100 of London has revalued 0.47%. Meanwhile, Wall Street is trading with increases of more than 1%, in the middle of the presentation of results. In addition, fears of a major conflict in the US and Syria have diminished.

Regarding the currency market, the euro fell 0.3% to $ 1.2344. The oil is quoted almost flat. In the case of the barrel of Brent, reference in Europe, it rises 0.03% to 71.4 dollars; For its part, the barrel of West Texas, reference in the US, falls 0.1% to 66.15 dollars.

At the macroeconomic level, the International Monetary Fund (IMF) has raised its growth forecast for the Spanish economy to 2.8% from 2.4% by 2018. For the next year, it has increased it to 2.2 % from the 2.1% anticipated in its previous estimate for January, according to the report 'World Economic Perspective', presented on Tuesday in Washington.

TECHNICAL ANALYSIS

"Despite the fact that the Ibex has once again lagged behind the rises experienced in most European markets, the 'feeling' is good," said José María Rodríguez, technical analyst at Bolsamanía. The reason is not other that the futures of the Dax and the Euro Stoxx 50 are clearly exceeding (in the absence of the Wall Street closure) the resistances presented at 12,500 and 3,390 points respectively. In fact, separate corrections, "what we have before us are potential training back in" double ground "that should be thrown back to the European stock markets at the annual highs," he adds.

Therefore we want to think that our Ibex will end up recovering part of the lost ground, but it is true that this (for the umpteenth time) is weaker and is not able to rise with the same joy with which the rest of our neighbors do. "For the time being we are going to see if we are able to close clearly above the 9,800 points," says José María Rodríguez. The fact is that from the technical point of view it seems that our index could be shaping a potential formation of bullish implications, which would lead to resistance levels close to 10,200 points. Let's see if Telefonica is able once and for all to leave behind the resistance of 8.25 euros and set course for 8.60 euros. "At least within the great values ​​it seems that Inditex has awakened, or at least it has been able to rise again with strength after holding onto the support of 24.55 euros," he concludes.