The Ibex rises 0.45% and goes over 9,900 points

Indra led the earnings in the Ibex, up 3.25%, followed by Técnicas Reunidas (+ 2.46%) and Red Eléctrica (+ 1.73%). In red, only a handful of stocks: Acerinox (-1.02%), CaixaBank (-0.9%) and Santander (-0.37%) were the most bearish.

AVALANCHE OF RESULTS

After a session in which Telefónica has behaved in a very volatile way (it has opened with increases of over 1% and has come to list negative), the operator has managed to close with a rise of 0.79%. The company made a profit of 837 million in the first quarter, 7.4% more.

As for the two banks that have published today, Banco Sabadell (-0.18%) closed the first quarter of 2018 with a net profit of 259.3 million euros, 32.8% more than last year. The bank highlighted the solid growth of the banking business (net interest and net fees), which increased 3.8%. The consensus of FactSet expected a profit of 213 million euros.

Bankinter (+ 0.62%), meanwhile, gained 143 million euros in the first quarter of the year, 15% more. The consensus of FactSet expected a similar benefit of 141 million euros.

Regarding Natural Gas (+ 0.87%), it achieved a net profit in the first quarter of 2018 of 320 million euros, 7.4% more than the same period of the previous year. For its part, the turnover of the energy company was 5.2% higher, to 6,406 million euros.

Also Bolsas y Mercados Españoles (BME) (+ 1.58%) has presented its resilts, and has reached a profit of 37.9 million euros in the first quarter of 2018, 3.6% lower than the one obtained in the year previous. Revenues for the quarter amounted to 81.2 million euros, down 1.3% from a year earlier.

It should be noted that, outside of Spain, Deutsche Bank has published its results(-1.3%), with a strong fall in profits of 79%. The German entity has specified that it intends to make a significant cut in employees throughout this year.

Barclays also published results (-1.57%), which lost 236 million pounds in the first quarter, weighed down by a fine of 1.4 billion pounds for fraudulent practices in the run-up to the 2007 financial crisis.

In addition to all business news, the European Central Bank (ECB) has also been the undisputed star of the day. The decisions of the ECB Governing Council do not change anything that was announced in March. Mario Draghi has kept the rates intact and has not given any clue to the end of the regulator's purchase program. After the meeting, the large indices of the Old Continent have closed in green, with increases above 0.5%.

TECHNICAL ANALYSIS

According to José María Rodríguez, technical analyst of 'Bolsamanía', although the rises of this session have not been very high, they keep the Ibex from the support area of ​​9,800 points. In addition, the expert adds that "in view of the Ibex chart what we have in front is a small figure of back of bullish implications" that, in his opinion, could push the selective to its resistance of 10,200 points, where there is an important weekly bearish hollow. Yet, the analyst clarifies that, so that this figure of return is not canceled, the Ibex should not drill the support of the 9,800 points in closures.

Regarding companies, Rodríguez highlights ACS, which overcame resistance last week and is trading near its historical highs (35.50). He also refers to Telefónica: "It has had a very volatile session after announcing its accounts, but it manages to close clearly positive with an eye on the resistance of 8.6 euros."

On the European indices, the analyst of 'Bolsamanía' considers that they could finish correcting, "setting course for the coming weeks towards the annual highs that were reached at the end of January". In his opinion, the technical aspect of the Ibex and our European neighbors "continues to improve day by day".