The Ibex loses the 9,600 points in a day with a lot of volatility

Siemens Gamesa has been the 'red lantern' of the session with a fall of 3% to 11.39 euros. The wind company has been affected by the negative report of JP Morgan and is that the American entity has lowered the price target to 11.7 euros from 11.8 euros. In addition, JP Morgan has recognized its preference for Vestas, the main competitor of Siemens Gamesa.

In the lower area of ​​the table we find Cellnex, which has dropped 2.8%; and ArcelorMittal, which registered a fall of 2.39%. In addition, the high values ​​of the Ibex have also fallen, despite having been positive during the session. Thus, Inditex has dropped 1.3% to 29.39 euros; Telefónica has fallen 1.32% and Iberdrola, 1.16%.

Also, the banks with more weight in the selective have also recorded falls, although more moderate. Banco Santander has yielded 0.37% and BBVA, 0.3%. On the other hand, Bankinter and Caixabank closed with 0.4% increases on average and Banco Sabadell, with 0.25%.

On the side of the rises, Gas Natural has been the value that recorded the highest rise of 1.63%. The company, now called Naturgy, has presented its strategic plan until 2022, in which it expects to have profits of 1,8bn euros, 32% more than those registered in 2017.

In the upper part of the table we also find Indra, which rises by 0.6% and Técnicas Reunidas, with an advance of 0.48%. Also, on the green side, this Thursday we must highlight Repsol, which yesterday announced the purchase of assets to Viesgo for 750 million euros and today it has received the price improvement of Santander and Kepler. In addition, IAG has risen 0.22% after announcing a new low cost subsidiary in Austria.

In the main board, Amper has fallen almost 6%, after its former president Jaime Espinosa de los Monteros has left the board of directors. In addition, Espinosa continues to reduce its participation, with the sale of 0.2% of the company.

OTHER MARKETS

The rest of the stock exchanges of the Old Continent have also closed in negative after a session with volatility. The drop of 1.6% in DAX 30 stands out; while the French CAC 40 closed with a fall of 1.1% and the FTSE 100 of London, of 0.3%. Wall Street is trading with slight increases still very aware of the trade war.

In the commodities market, oil rises strongly. The barrel of Brent rises by 0.3% and approaches 78 dollars; while the West Texas up 1.2% to 73.66 dollars. The euro shyly bounces 0.3% to $ 1,1589.

This Thursday's session has a key meeting, the European Council meeting, which begins this afternoon and will be extended to Friday. The issue of immigration and its derivatives will be key in this meeting. The summit was raised at the time to address the inequalities between countries in terms of migrant asylum and now has acquired an unexpected urgency as a political crisis, which has much to do with immigration. They issue threatens the Government of Angela Merkel, while Italy refuses to admit migrants rescued at sea.

As for other references of the day, the CPI of Spain continues to rise in June to 2.3%. For its part, confidence in the economy of the Euro Zone remains stable in June.

TECHNICAL ANALYSIS

José María Rodríguez, technical analyst at Bolsamanía, points out that there have been "strong lurches once again in our selective, which finally closes in red." And this despite the fact that the session from less to more than this Wednesday left a good taste in our mouths. In view of the daily chart of the Ibex, it is easy to see that support is now available at approximately 9,430 points, a straight line that joins the growing minimums of March and May. And above, each time further away we have the resistance of 9,985 points and the area of ​​10,130 points.

Although as we have been commenting days / weeks ago, we will not have figure back as long as we do not jump above 10,290 points. Meanwhile the minimum Santander continues to trade above the support of 4.50-4.55 euros and BBVA above the counterpart level of 5.78-5.80 euros. "Let's see what the weekly candle closes like on Friday," concludes the expert.