The Ibex 35 has not been able to reach annual highs and after touching 8,436 points it has turned red. The Spanish stock market has thus been the only falling market of the Old Continent that has maintained the increases entirely this session on Tuesday.
- 11.154,600
- 1,56%
Within the Ibex, the significant revaluations in ArcelorMittal, Bankia and CaixaBank, close to 3%, have stood out. On the negative side, the falls in PharmaMar (-4.96%) or IAG (-1.51%) have attracted attention. In the Continuous Market, Rovi has yielded 3% after announcing a halt in the authorization process, by the EMA, of its drug Doria against schizophrenia.
In Asia, meanwhile, the red numbers have dominated this morning. Overnight, the Reserve Bank of Australia kept interest rates at 0.1%, meeting expectations. The Australian central bank has made it clear that it will not raise rates until inflation remains within its 2-3% target. In light of the recent rise in bond yields, the Reserve Bank of Australia has made it clear that it will not tighten its policy in the short term.
FROM VACCINES TO RAW
The US FDA approved this weekend the emergency use of Johnson & Johnson's monodysis vaccine against Covid-19. This news also contributed to Monday's gains. In addition, according to the 'New York Times', Johnson & Johnson is planning to test its vaccine on children, babies and even newborns, as well as in pregnant women and on people with compromised immune systems.
On the other hand, oil is in the spotlight pending on what OPEC + decides at its meeting this Thursday. Both Brent and West Texas now moderate the declines (-0.2% on average), to $ 63.50 and $ 60.6, respectively, amid investor concerns about the possibility that large producers of crude oil decide to normalize the supply.
WATCH OUT FOR INFLATION
This Tuesday the preliminary inflation of the euro zone for February was known. After country CPI releases gave a positive surprise, analysts had expected a year-on-year rise to 1%. Finally, it was lower than expected (0.9%).
In Spain, the January unemployment has been published, which rose by 44,436 unemployed and exceeds 4 million.
As for the rest, regarding the technical aspect of the Ibex, the analysts at Bolsamanía say that, if it manages to surpass the annual maximums (8,439 points), we could end up seeing an extension of the gains to the 8,683 points level. Below, the first support level is at 8,000 points.
OTHER MARKETS
The euro is now trading at $ 1.2031. Gold rose 0.25% to $ 1,727, and silver fell 1.15% to $ 26.37.
As for 'cryptos', bitcoin rises 0.95%, to $ 48,880. According to different media, Goldman Sachs intends to trade bitcoin futures starting next week. Ethereum is now up 3.4% to $ 1,569.
