The Ibex closes the week with falls of 0.6% and below 9,800 points
OPEC has agreed to increase production by one million barrels
- The price of oil has risen strongly and Repsol has rebounded by 2.7%
The Ibex 35 has risen 0.93% to 9,792.10 points, although its earnings have not been enough for the weekly balance to be positive. The selective dropped 0.6% in the last five sessions, since it began last Monday at 9,851 . At the moment, the main index of the Spanish stock market does not decide to overcome resistances, but it does not lose support either.
IBEX 35
11.500,400
-
0,23%26,50
- Max: 11.517,30
- Min: 11.421,90
- Volume: -
- MM 200 : 11.299,24
Oil has been the main protagonist of this Friday. The OPEC has reached an agreement to increase its production by one million barrels per day during the second semester.
The 'black gold' has reacted with strong profits: the Brent barrel rises 2%, to 74.58 dollars, while the West Texas picks up 3.6%, up to $ 67.90. This has benefited Repsol (+ 2.77%), which has led the advances in the Ibex and is approaching 17 euros per share.
Although the most bullish value of the day was Bankia (+ 3.33%), followed by Cellnex Telecom (+ 2.55%), Mapfre (+ 2.52%) and Técnicas Reunidas (+ 1.63%). Among the 'blue chips', positive behavior also for BBVA (+ 1.47%), Iberdrola (+ 1.43%), Santander (+ 1.19%), Endesa (+ 1.01%), Telefónica (+ 0.89%) and Inditex (+ 0.68%).
On the negative side, the least profitable company was CIE Automotive (-3.15%), after the US president, Donald Trump, threatened to impose a 20% tax on all imports of cars manufactured in the European Union (EU) do not withdraw tariffs on US companies. Contrary to what usually happens, since entering the Ibex, the shares of CIE accumulate a fall of 12%.
The other two bearish values of the Ibex were Ferrovial (-1.13%) and DIA (-0.94%). In the main board, Adveo Group has rebounded by 14% and Iberpapel by 7%. On the contrary, Pescanova has fallen by 18% and Audax Renovables by 6%. In addition, Hispania has risen 3% after the improvement of the price of the OPA by Blackstone.
ECONOMY
In the reference calendar of the day, in addition to the OPEC meeting, this Friday there is an Ecofin meeting (the Eurogroup has closed the fourth and last review of the rescue of Greece). In addition, the PMI of the Euro Zone in June has remained at 54.8 after rising seven tenths, maximum level in two months.
The Minister of Economy and Business, Nadia Calviño, has assured this Friday that it is "absolutely premature" to guarantee that this year's public deficit will be 2.2% of GDP - the objective agreed with the EU -, but has assured that it will be below 3%, the level that Brussels establishes to get out of the supervisory corrective arm. In the currency market, the euro increased in value 0.26% to $ 1.1634. And Spain's risk premium has fallen slightly by 1%, to 100 points.
TECHNICAL ANALYSIS OF THE IBEX 35
"Despite closing the week with a negative balance slightly lower than 1%, the truth is that it has been a more or less volatile week, but without a clear direction, since our index suffers from excessive dependence on banks I want to concentrate on the behavior of the two big banks of our country (Santander and BBVA) ", says José María Rodríguez, analyst of 'Bolsamanía'.
"The two managed to bounce decisively after touching the supports they had at the annual minimums, 4.54 and 5.78 euros respectively, and at the end they closed in positive, all with an Ibex filling (not closing) the bullish gap of 9,630 points, so as a summary we can say that while the two banks respect the annual minimums, which coincide with the weekly minimums, and the Ibex does the same with the 9,600 points, it is still possible to maintain hope ", adds this expert.
"It is also important that Telefónica respects the 7.25 euros at all times, in any case, we should not forget that as long as we do not exceed those 10,290 points, the May highs, we will not have a return to the Ibex," concludes Rodríguez. .