Ibex 35 closes above 10,100 with the help of Telefonica and Siemens Gamesa
Spanish index rises again after deflating on Monday
- Siemens Gamesa introduces new products on Tuesday
- Bitcoin and its spectacular rally continues to occupy headlines
- BBVA announces the sale of its Chilean affiliate for 1.85bn euros
The Ibex 35 managed to close above 10,100 points on Tuesday after a gain of 0.81% to 10,144 points. The Spanish index achieved the growth with the help of strong performances from Telefonica and Siemens Gamesa.
IBEX 35
11.656,600
-
0,39%44,90
- Max: 11.674,00
- Min: 11.520,90
- Volume: -
- MM 200 : 11.125,61
The energy firm led the gains with a rise of 9.9% to 10.12 euros, although the price is still far from the target price given to it by analysts from FactSet (12.83). This growth is owed to the revealing of two new generator products from the company.
In the higher part of the table it was followed by Mediaset (+4.87%) and Repsol, which was up 1.87% after ratings agency Standard and Poor’s lifted its credit rating to BBB from -BBB. Telefonica gained 1.29%.
The other blue chips also managed to finish higher. (BBVA +0.93%, Banco Santander +0.50%, Inditex +0.80%). The Basque bank announced an offer for Scotiabank for its stake in BBVA Chile for a price of 1.85bn euros.
LOSERS AND OTHER MARKETS
The selling side was led b y Acciona (-0.94%), Merlin Properties (-0.58%) and Bankia (-0.43%). The latter was confirmed by economy minister Luis de Guindos to have the intention of returning to the private sector as soon as possible.
Tecnicas Reunidas fell 0.21% after its forecasts for profits this year and next year were cut by analysts at AlphaValue.
The main European indices also closed in the black. The CAC 40 grew 0.60%, and the DAX 30 0.44%, while the FTSE 100 was up 1.13%. Royal Dutch Shell’s shares were boosted after the announcement of a cash dividend return.
Bitcoin continues to grab the headlines as it pushed towards the $10,000 mark, after a 900% rise this year.
In commodities, Brent fell at the close 0.47% to $63.34, and West Texas by 0.36% to $57.75. Reports suggest these losses are due to the doubts that exist about whether Russia will back the extension of production cuts in Thursday’s OPEC meeting.
TECHNICAL ANALYSIS
Bolsmanía technical analyst José María Rodríguez said: “The Ibex did not deflate in the end of the day, and is actually close to daily highs.”
“This brings the Ibex towards the resistance of 10,1275 points and above the next important resistance lies at 10,600 points. In fact, we will only be able to speak of a round figure when there is a change of tendency above that number, and ready to see weekly graphs better and better. At least we can point out that BBVA is unconvincingly moving away from its support of 7 euros.”
