The Ibex 35 has fallen 0.67%, to 8,199 points, pressured by the falls in banks and Inditex, while the rest of the European stock markets are trading flat. For its part, Wall Street registers earnings after the speech of Janet Yellen, future US Treasury secretary, who is to appear before the Senate was leaked.
- 11.154,600
- 1,56%
At the business level, Goldman Sachs and Bank of America have published results (Netflix will do so at the close). In Goldman's case, it beat forecasts in the fourth quarter, while Bank of America disappointed with its revenue.
In Spain, we highlight the increases of Grifols (+ 3.70%) for the second consecutive day as it ramps up the development for an immediate immunity drug against Covid.
In addition, Telefónica (+ 0.43%) has also advanced after the forecasts of its German subsidiary for the coming years, which have been positively discounted.
On the contrary, ArcelorMittal (-4.63%), Merlin (-3.88%) and BBVA (-2.85%) have been the most bearish values, despite the fact that Barclays has raised the valuation of Spanish banks before results, which begin this Thursday with Bankinter kicking off the season.
Lastly, Bolsamanía publishes that Cellnex will end up being bought by American Tower, according to JPMorgan analysts.
Returning to Yellen, she will have to convince the most skeptical cohort of US lawmakers that Biden's new fiscal plan will not cause an unsustainable increase in the US national debt.
"This is the main concern of the most fiscally conservative US legislators, and Janet Yellen will have to use all of her political skills to convince them that it is necessary, at least in the short term," says Michael Hewson, analyst at CMC Markets.
"Neither the president-elect nor I are proposing this aid package without considering the country's debt burden. But right now, with interest rates at record lows, the smartest thing we can do is act big." Yellen pointed out.
On the other side of the Atlantic, it has also been news that the Government of Joe Biden has communicated that "there is no intention" to lift the restrictions imposed by the Covid-19 crisis on the arrival of flights from Europe and Brazil, despite the fact that Donald Trump announced hours before the end of this measure from January 26 onwards.
On Tuesday's agenda, Germany's January ZEW has stood out as the main macro data. The economic sentiment has remained at 61.8, above 55 the previous month and the forecast of 60.
In addition, on the political front, investors will be watching Italy. After Guiseppe Conte received the support of Congress yesterday, today it is the turn of the Senate to decide, where he does not have a majority.
Regarding the technical aspect of the Ibex, the selective remains in the vicinity of the support of 8,200 points. If it were to leave this price level we could end up seeing an attack at the 8,000 point level, while we will only see a sign of strength again with the breakout of the 8,439 resistance.
In other markets, Brent oil rose 2% to $ 55.83, while the euro increased in value 0.55% and traded at $ 1.2142. In addition, the profitability of the 10-year Spanish bond is trading at 0.07%.
