Politics still affect the Ibex: falls 1.21% and loses 9,200 points

Bankia (-3.38%) is once again among the worst values of the selective, given the doubts that arise after the agreement for a possible halt of its privatization process. In addition, the rest of the financial entities have also suffered (Bankinter: -3.74%; Santander; -3.49%; BBVA: -3.25%; Sabadell: -2.99% CaixaBank: -2.12%) , seeing how threats like the Tobin Rate now gain more strength.

Equally bad performances from titles such as MásMóvil (-3.96%) and ACS (-3.82%) or Ence (-3.44%), which faces reasonable doubts about the continuity of its factory in Pontevedra. And in green they have returned to quote very few values, with Grifols (+ 2.26%) as the most prominent.

The risk premium also continues to suffer, with a rebound of 7% at the close of the market in Europe, to around 74 basis points.

THE REST OF EUROPE FALLS DUE TO THE TRADE WAR

The rest of European stocks also fall back today, although less than the selective with a decline of 0.3% on average. At the moment, the gap between our Ibex, which rises 9% in the year, and the rest of the Old Continent indexes, which are advancing around 25%, is widening.

The impact on the stock exchanges is mainly due to the latest news about China and the US, which suggest that the agreement is stagnant. The president of the United States, Donald Trump, said Tuesday that the initial phase of the trade agreement between the two largest economies in the world would be completed "soon," but he did not offer new details while calling China "cheater."

It should also be remembered that tomorrow is the deadline for the US to announce a decision on European car tariffs. Everything indicates that he will postpone the decision probably another six months. This Tuesday Trump did not clarify anything about it in his appearance at the New York Economic Club.

TECHNICAL ANALYSIS

"From the highs of this Tuesday to the lows of today our index has fallen over 300 points, but nothing falls without its corresponding rebound or reaction phase. Which means that it is easy for the Ibex to experience the occasional rebound of short term, "says José María Rodríguez, analyst at Bolsamanía.

"Moreover, the key, the resistance to beat at this time is the bearish hole today: 9,307 points. Or what is the same, to somehow nullify the bearish bias of short-term 'trading' this gap should be closed. And as long as it is not canceled, we must understand that any climb will be part of a simple bounce within a corrective movement of grade May, "he adds.

"In fact, after drilling the support of 9,210 points (9,200 as a round figure) the logical thing, most likely, is that it is directed towards the important support it presents in the October lows and origin of the movement: the 8,850 points" , concludes this expert.