The Ibex holds on to 9,000 despite the fall of Inditex and ahead of Draghi's speech

Inditex has fallen by 3.88% after presenting a net profit in its first fiscal quarter of 1.5bn euros, 10% more than in the same period of 2018. The figures pleased analysts and experts of Bolsamanía. They interpret these falls as a collection of profits after the strong increases registered by the textile company in recent times.

As for other values ​​that have stood out this Wednesday, Siemens Gamesa (+ 4.11%), Indra (+ 2.97%) and Acciona (+ 2.89%) have led the advances in the Spanish selective.

In other markets, the euro falls in value 0.43%, to $ 1,0995. In addition, Brent oil falls 0.4%, to $ 62.12. On the other hand, the profitability of the Spanish bond falls to 0.25%, while Spain's risk premium rebounds up to 83 points.

UNCERTAINTY ABOUT BREXIT

As for the divorce between the European Union and the United Kingdom, with the British Parliament closed until mid-October, analysts point out that the political drama will take a break, but not the uncertainties.

British Prime Minister Boris Johnson has insisted that he wants an agreement that allows him to leave the bloc in an orderly manner on October 31, so he is expected to embark on another round of negotiations with Brussels.

The main problem remains the safeguard on the border with Northern Ireland, the well-known 'backstop', a point at which the EU is not willing to give up one iota. Likewise, EU leaders do not seem willing to offer another extension to the United Kingdom, which Johnson should ask if there is no agreement before mid-next month. The 'premier', however, has made clear his opposition to this extreme: "I'd rather be dead in a ditch," he said about it.

ECB AND MARIO DRAGHI

All this while investors wait for the monetary policy decision of the European Central Bank (ECB). The market discovers that its president, Mario Draghi, presents an unprecedented stimulus package. Experts are divided between those who believe that the asset purchase program (known as QE) will resume and those who discard it.

On the front of the trade war, Chinese state media publish that China has offered the US to increase purchases of agricultural products, in exchange for a delay in tariffs and a relaxation of the veto to Huawei. Washington and Beijing maintain preparatory contacts before the thirteenth round of trade negotiations to be held in early October.

TECHNICAL ANALYSIS

"The least of our worries for the session on Wednesday is whether we close with slight rises or falls, what matters is that we continue to have impeccable minimums and rising maximums. That no support has been drilled and that with every day that passes it becomes a greater probability that Wall Street scores new all-time highs, "argues José María Rodríguez, an analyst at Bolsamanía.

"Thus, the main index of the world (S&P 500) is only 1.3% away of the maximum: 3,027.98 points. And if it manages to beat new highs I want to believe that Europe will continue to climb positions, although from a distance. We already know that Wall Street is still the one that does the climbs the best and the one that least falls in the corrections. There are many years, too many, in which it has been shown that the stocks of the Old Continent are a doll at the expense of what the boss wants to do: Wall Street, "adds this expert.

"Returning to our selective, comment that in reality we no longer have significant resistance until 9,400-9,410 points, the 'famous' weekly bearish hollow last July. 'Gap' that was filled in a couple of times, but not closed. That's where the mother of all battles is," Rodriguez concludes.