The Ibex closes flat this week after rising 0.45% this Friday

Cellnex has closed with the highest rising value of the session after increasing a 2.41%. Grifols (+2.1%) and Indra (+1.54%). Also Inditex has boosted the index towards the earnings after reevaluating itself a 0.81%, after closing in red this past Thursday.

The bank gets its strength back this session, with all the great banks (except Bankia) closing in green and with CaixaBank at the head, that closes with a rise of 0.96% after announcing an increase of their deposits in 487.27 million euros in October despite the uncertainty that the 1-O in Catalonia provoked. On another note, Santander has managed a rise in 0.36% after Alphavalue grants it a rising potential of 13% in six months.

Also in green DIA (+1.21%). Goldman Sachs keeps amplifying capital in the food company and touches the 12% although it only directly controls the 1.72% since it increased the price of the stocks to the decreasers.

The analysts in Banco Sabadell have reiterated their bet on Telefónica despite their stock weakness and the operator goes up a 0.39% in the session.

In red, Técnicas Reunidas have led the falls after falling a 1.71%. Bankia has followed (-1.4%) and Siemens Gamesa (-1.05%). Ferrovial also falls (-0.87%), after Deutsche Bank has recommended “sell” the stocks of the company, considering that the value has been affected when postponing the retrieval of the margins of construction.

In the main board PharmaMar has suffered a fall of 34.1%. The pharmaceutical company hasn’t started listing until five hours after the opening, but the negative results of a study from Zepsyre hasn’t impressed investors.

Also on the main board NH (+0.91%) after the Chinese group HNA, owner of 29.5% of the hotel company has put on sale its participation. Barceló has communicated it isn’t interested in bidding for that percentage in NH.

Finally, OHL (-0.08%) where Brookfield, Abertis partner in Brazil has gone in with 3% of the building company’s capital.

This Friday, all the market is pending on Fitch and its decision on the Spanish rating (now at BBB+ with a positive perspective). The agency will be the first in pronouncing itself about the Spanish rating in 2018 and therefore the first that will do it after the Catalan elections on December 21 that again gave the absolute majority to the independence sector. This result and the prorogation of the political uncertainty will be a factor for their verdict. The experts believe that it won’t touch it precisely because of these doubts about Cataluña.

EUROPE AND THE UNITED STATES

Green numbers in the European stocks with highlighted rises like the case of the German DAX 30 (+1%). In Wall Street, the three indexes are debating between the green and red numbers after closing with losses this Thursday and setting historical highs.

In the US, the chamber of representatives has approved a short term budget to avoid a government shutdown. The deadline for the this extended time is February 16. The measure is passed to the Senate where it needs at least a dozen democrat votes to be approved. Republicans and democrats have been negotiating during the past days what would be the fourth temporal extension of the financing since the fiscal exercise started in October 2017.

In the agenda of the day, the index for production prices in Germany this December has gone up a 2.3% in line with what is expected. The retail sells of the UK in December have risen a 1.4% unver the 3% that was expected.

Finally, we should point out that petrol is backing with strength at the Spanish close. The Brent drops a 1.11% down to 68.54 dollars and the West Texas falls a 1.17% down to 63.2 dollars. The IEA has participated in an explosive growth of the crude production in the US during 2018 due to the rise in prices. As for the euro, it’s placed at 1.2257 in its cross versus the dollar (+0.16%).

TECHNICAL ANALYSIS

In José María Rodríguez’s opinion, technical analyst of Bolsamanía, the Ibex closes flat in a week “in no man’s land, midway between the 10,300 support and the the eternal resistance of 16,000 points”. Therefore it considers that “at least we are not leaving the resistance that we have in the September highs”.

As for companies, the analyst in ‘Bolsamania’ points out the new historical highs of Bankinter, “the bank that is doing its best these past years”. And is “despite closing this week with moderate earnings, the strength of the European sector is still there, intact”. In his opinion, this week has been “to consolidate the levels above the resistance”, something that leaves the doors open for the banks to retake the rises of last week and spread them to the stocks.