Third time's a charm, the Ibex 35 rises 0.86%, to 9,059 points, and has marked a new annual maximum. In the third attempt to overcome the psychological and technical resistance of 9,000 points, the selective has achieved it in the weekly closing, which gives more value to the break. The Hispanic index rises in value 2.77% on the week and extends its annual gain to 12.2%. This is very good news.
- 10.872,000
- 0,16%
Within the index, the strong rises in Solaria, Amadeus (both with positive results), PharmaMar, ArcelorMittal or Fluidra (Berenberg has raised its price to 35 euros) have stood out.
On the Continuous, Gestamp has shot up after tripling its profits in the first quarter. Ecoener has also risen with great force, when it is known that several institutional investors have entered its capital.
Today the Cellnex, Amadeus and IAG accounts have been known. The first has raised its losses to 43 million and has confirmed forecasts; the second has lost 95 million until March after the benefits of 117 million of the same period of a year ago; and the third has reduced its red numbers to 1bn. Despite these figures, investors consider that the values associated with tourism have already discounted the worst scenario and that their businesses will recover in the second half of the year.
ATTENTIVE TO MACRO DATA
The key data of the day has been the April employment report from the United States. The consensus expected the creation of almost one million jobs and a drop in the unemployment rate to 5.8% from 6%. But the reality has been very different.
The world's largest economy created only 266,000 jobs during the month of April, compared to the 950,000 anticipated by the expert consensus. In addition, its unemployment rate has risen from 5.8% in the previous month to 6.1% today.
According to the first assessments, companies have had a lot of trouble finding available workforce. Analysts note that there is intense debate over whether the expanded and enhanced unemployment benefits by the Biden Administration incentivize the unemployed not to actively seek employment.
Neel Kashkari, chairman of the Minneapolis Fed, has commented, "We know the dynamics are there. We also know that there is a massive child care shortage that is preventing families from re-entering the workforce. That is disproportionately affecting women. And there are still many people nervous about the virus, "he commented.
The 'positive' for stocks is that as long as the labor market does not improve substantially, the Federal Reserve (Fed) will not begin to consider reducing its monetary stimulus, which is good for them
On the other hand, the latest trade data for China for the month of April was released. "They add to what has been a rather mediocre start to the year from a GDP point of view, although the trade data has seemed quite strong," explains Hewson. Exports were up 32.3% in April (up from 30.6% in March) and imports were up 43.1% from 38.1% in the previous month. Both data have been higher than expected.
AND HOW IS THE IBEX?
After several clear attacks at the 9,000 points, the Ibex has finally managed to leave behind this psychological level, which was also a technical resistance.
"The index is still struggling with these levels and shows strength. If in the end it manages to overcome these prices, it is very likely that we could end up seeing an extension of the gains to 9,300 points. We will not see a sign of weakness as long as it remains trading above out of 8,800 points, "says César Nuez, an analyst at Bolsamanía and head of Trader Watch.
OTHER MARKETS
The euro rises in value 0.6% and trades at 1.2135 dollars. Oil is rising moderately, with Brent at $ 68.30 and West Texas at $ 64.95.
Gold is up more than 1% and is above $ 1,840 an ounce, while silver is up 0.3% to $ 27.58.
Bitcoin is up 2% to $ 57,050 and Ethereum is up slightly to $ 3,476.
The yield of the 10-year American bond is at 1.575% and the 10-year Spanish bond increases 3%, to 0.47%.
