The Ibex rises 0.54% against the best scenario in the UK, but collides with the 8,900
The hope of a new divorce extension has encouraged investors
One more day, the markets have moved at the pace set by Brexit. The more than certain extension of the extension, after the House of Commons snatched control of the divorce process on Tuesday from Prime Minister Boris Johnson, has pushed European exchanges. The Ibex has closed this Wednesday with a 0.54% rebound, which has placed it at 8,856 points, although it has overcome the resistance it has at 8,900 and then slowed down.
Only five values have concluded with 'red numbers' (Grifols, Ferrovial, Iberdrola, Red Eléctrica and Inditex), although they have traded with marginal falls. Meanwhile, among the most bullish values, ArcelorMittal (+ 6.02%), Cie Automotive (+ 4.27%) and Ence (+ 2.84%) have stood out
Mediaset Spain (+ 1.83%) has also been protagonist this Wednesday ahead of the celebration of its Extraordinary Shareholders Meeting, which will be key for the future integration with its Italian parent Mediaset. The goal of the Berlusconi family, the top shareholder of both companies, is to create a new company based in the Netherlands and will be called MFE.
INTERNATIONAL MARKETS
Back at the international level, the markets remain very focused on London, where investors keep the pound on their radar. The coin prolongs its sharp rebound this Wednesday, after it turned around towards the end of Tuesday's session and rejected part of the losses that led it to revisit unseen prices since the 'flash-crash' of October 2016. It changes hands above $ 1.21, after petting $ 1.1950 on Tuesday.
Outside our borders, the trade war is relevant once again. The latest news has been offered again by US President Donald Trump, who has warned Beijing that it will be even harder with the country if it is re-elected.
On the other hand, according to the 'CNBC', the US president wanted to apply tougher tariffs to the Asian giant. As he publishes, his intention was to double taxes on Chinese exports last month, after Beijing announced its own levies that have ended up being lower than anticipated at the end of August.
TECHNICAL ANALYSIS
"What the Ibex has come to tell us this Wednesday's session is that it cannot fight, at least for the moment, to reach the first of the important resistances: the 8,900 points, before support (the June minimum)," he says. José María Rodríguez, analyst at Bolsamanía.
"Let's say we have touched the resistance and there we have made a hard stop, while the rest of the European indexes continue to do better than us. Something that on the other hand does not mean anything new. And if we look at the indexes of our European neighbors , these present interesting figures of return that if they were finally fulfilled it would take them back to price levels close to those reached at the end of July, just the origin of the last major correction, "he adds.
"Continuing with our selective and seeing that we have not been able to go over the first important resistance, we will also look at the bullish hole today, at 8,809 points, by definition support. It would be good if it did not close if we somehow want to keep bullish bias in short-term trading, "concludes the analyst.
