The Ibex, towards maximums driven by BBVA
This Tuesday surpassed the 9,504 points in closing prices
- The Spanish index will now seek 9,623 points
- Wall Street returns to historic highs after Yellen's words
After the first obstacle, the 9,504 points in closing prices, the Ibex now has the clear panorama towards the annual highs located at 9,623 points. Or almost. Because the Spanish index must surpass, in weekly closing, of the level of the 9,544 points. Then there would be the free way to the highs of the year. At the moment, it rises 0.4% at the start of the day and trades at 9,550 points.
IBEX 35
11.887,700
-
-0,09%-10,80
- Max: 11.973,30
- Min: 11.860,80
- Volume: -
- MM 200 : 11.352,65
Although, the Ibex will achieve its goal if 'the big ones' allow it. Next week will be decisive since values like Repsol or Telefónica will present results and their accounts will serve as a catalyst (positive or negative). But, in addition, BBVA and Santander will be decisive. The surplus of 9,504 Ibex points came on Tuesday from BBVA (it is now again the best, with increases of 2%), which added up 2.7% and closed as the best value of the index, in the 6,224 euros.
Tuesday's gains on the Ibex were accompanied by rises and new record highs in the United States. Federal Reserve (Fed) President Janet Yellen has reaffirmed her notion of "not waiting too long to withdraw accommodative policy." Doing so would be "reckless," said Yellen, who is speaking on Wednesday before the US Congress.
On the other hand, investors will remain outstanding on Wednesday of business results. Today companies as Danone, Credit Agricole, ABN Amro, Cisco Systems or Heineken publish their accounts. Meanwhile, at the macro level, political uncertainty continues and has a name: Greece. Eurogroup President Jeroen Dijsselbloem said Greece and its creditors will not reach an agreement before the meeting scheduled for next Monday, raising concerns that Greece will default on its debt.