• The session has gone upwards given that it has started with falls of 0.6%
  • This Thursday, the investors will be keeping an eye on the Catalan elections
  • On another note, Trump's tax reform bill is a breath away from being passed.
21d elecciones cataluna candidatos
BOLSAMANIA

The Ibex 35 can feel the pressure of the Catalan elections this Thursday. This session the selective has fallen a 0.26% down to 10,207 points. The Spanish index has gone from less to more as it started with falls of 0.6%, losing the 10,200 points but it has got back on its feet even though it didn’t manage a green close.

IBEX 35

  • 11.154,600
  • 1,56%

Mapfre has been the red lantern in this session with a fall of 1.62% down to 2.66 euros. Red Eléctrica has followed with a 1.3% and Siemens Gamesa with a fall of 1.6%, deepening its falls.

Among the falls we must talk of the big fishes of the selective that have closed with falls, except Iberdrola and BBVA that has risen a 0.49%. Inditex has been the one that has registered the most pronounced fall (-1.01%). BBVA has managed to close with a rise of 0.08% while Iberdrola has risen a 0.94%.

On the positive side, Técnicas Reunidas has been the one that has led the rises, with an advance of a 1.69%. This wednesday it has been made known that the Azerbaijan petrol company has selected Técnicas Reunidas for a 800m euro project. In spite of this news and of today’s rise, Técnicas Reunidas is till the figure that registers the largest fall in the year so far (-30.25%).

Mediaset, with a rise of 1.57% has been the second highest value. Nevertheless, Banco Sabadell should be highlighted with a close of 0.7%. The Catalan bank has managed to lead the Ibex falls, it felt the pressure of 21-Dm, in spite of this, it has managed to swing and be the third value.

This Thursday is a key day for investors because of the very important elections for Spain and Catalonia. As for the results of the elections, surveys think there will be a tie between Ciudadanos and ERC, which will leave a strange atmosphere that will ensure that the situation is not solved in the short term. This Tuesday, the agency of DBRS calcification spoke about an electoral result that would leave the Catalan parliament very fragmented and would stretch the uncertainty in time. It even forecast new elections in Catalonia in 2018.

OTHER MARKETS

The rest of the markets of the Old Continents have also closed in negative in spite of Trump’s tax reform bill being moments away from being passed. So the German DAX30 has dropped a 1.2%. The CAC40 has followed with a 0.62% and the London FTSE100 with a 0.3%.

On the other side of the Atlantic, Wall Street lists moderate losses waiting on President Donald Trump to sign the tax bill. “The House of Representatives and the Senate passed the unified law plan, although the House must repeat the vote this morning for procedural matters. After that the law will be sent to president Trump to be sanctioned, and it will be applied from the month of January on -the high earners will notice it in their February paychecks-”, note the Link Securities analysts.

The POTUS has congratulated himself via Twitter and has reminded everyone that this Wednesday there will be the final vote.

As for the data of the agenda of the day, the index of November production prices in Germany have gone up a 2.5% (under the predicted 2.6%). As for everything else, in other markets petrol is still on the rise. The Brent barrel lists at 64.29 dollars and the West Texas at 57.92 dollars.

TECHNICAL ANALYSIS

“Clear session upwards that is only useful to get us closer to the intermediate resistance of 10,380 points, previous to the attack of the key resistance in 10,600 points”, explains José María Rodríguez the technical analyst of Bolsamanía. It’s a session that is more striking than the behaviour of our European neighbours, that drop around an average of 0.8-1%

As for everything else, it’s all the same, without any kind of changes regarding the technical implications in the graph. At the end of the day our selective lists in “no man’s land”, halfway from the support of 9,900 points and the resistance of 10,600 points. “Until the price doesn’t move to one figure or the other we won’t have any clues as to what could be the next tendency section”, concludes the expert.

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