The Ibex chains three sessions of rises and approaches the 9,900 points

Wall Street returns to normal on Thursday after yesterday's holiday

  • CIE Automotive has been the most bullish value for $150m financing
Bolsamanía
Bolsamania | 05 jul, 2018 09:21 - Actualizado: 18:13
ibex-35
Europa Press

The Ibex 35 has continued this Thursday with its bullish streak after rising 1.11% to 9,866 points. Thus, its next objective is at 10,100 points for technical analysis experts. At the moment, it seems that the index continues to climb towards that level.

IBEX 35
11.473,900
  • 0,33%38,20
  • Max: 11.485,70
  • Min: 11.446,20
  • Volume: -
  • MM 200 : 11.299,24
14:00 24/12/24

The most bullish value of the session, which has clearly distanced itself from the others, has been Cie Automotive (+ 5.09%). The company announced Thursday that it has achieved 150 million dollars of financing to grow in Mexico. The gains were followed by Arcelormittal (+ 3.78%) and Acerinox (+ 2.88%).

In addition, banks have lived a good day in general. BBVA has revalued more than 2.8%; meanwhile, Santander has rebounded close to 1.7%; Sabadell, more than 2%; and Bankinter, the least, 0.14%. It has also risen with Bankia (+ 2.66%), after learning that the appeal filed by Iberdrola (+ 0.87%) against the entity for the exit of a stock market has been dismissed.

On the other hand, falls on Thursday were led by Meliá Hotels (-2.99%), Siemens Gamesa (-1.39%) and Grifols (-1.15%).

OTHER STOCKS AND MACROECONOMICS

In the main stocks markets there has also been dominant gains this session. And it is that the day has been conditioned by macroeconomic data. Wall Street returns to quote with the following parties on the holiday day of the day. The employment report of the ADP consultancy (prelude to the June employment report that was released on Friday) has been published. This has shown the creation of 177,000 jobs in the US in June, slightly below the 190,000 jobs that awaited market consensus.

It should be remembered that, with the European stock exchanges closed, the minutes of the last session of the Federal Reserve (Fed) will be published. CMC Markets head of analysis in London, Michael Hewson, believes that these "accounts indicated if the Fed is concerned about inflation and if it has a doubt about whether the real uncertainty in which the trade could derail its plans to rise from the types ".

Also, this Thursday, the governor of the Bank of England, Mark Carney, spoke in Newcastle, who has been more hawkish than in previous occasions? Carney has reaffirmed his confidence in the British economy and pointed out that the mobile data macro of the first quarter have their origin in transitory effects, such as climate.

Meanwhile, experts continue to point out that they dominate the climate of uncertainty, waiting for tariffs between the United States and China to be activated tomorrow. Both powers are willing to impose tariffs on Friday, although China has declared that it has not fired the first shot in this trade war.

TECHNICAL ANALYSIS

José María Rodríguez, technical analyst of Bolsamanía, recalls that this is the "third consecutive session in our selective after supporting us on Monday at the first hour at the base of the triangle."

"What I want to say is that we have more support at this moment, 9,430-9,440 points, and when it is not above the possibility of looking for the upper part of the triangle, it is still there, intact, which is at 10,100 points," he explains. the expert.

"Although the key level in the medium term are the maximum of May, the 10,290 points, only over this resistance we can talk about a change in trend in terms of medium term, from bearish to bullish," says Rodriguez. Although he warns that the bells should not be thrown when returning "so soon", since there is "an intermediate resistance in the 9,986 points (the maximum of June)".

"Unlike other times, the market, the strength, in addition to the banks, is in Telefonica.You can not rule out that the current rebound will lead you to the resistance zone that presents in the bearish gap of 8.03 euros." I can conclude that the technical analyst is possible.

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