The Ibex 35 opened in February with increases of 0.52%, to 7,798.2 points, although after closing January with a drop close to 4%. In the focus of investors, the case 'GameStop' continues, with silver as the new target of the Reddit foreros, which has triggered the futures on the precious metal.
In Spain, Sabadell has made the news, which has fallen by 1% after presenting a fall in net profit of almost 100% in 2020, to 2 million euros.
Its president, Josep Oliu, has said that "our idea is to recover the dividend charged to 2021" and has closed the door to a corporate operation, after the failed attempt with BBVA. The bank awaits a new strategic plan that will be presented in May by the future CEO, the former ING boss, César González-Bueno.
We also highlight PharmaMar, which has soared almost 8% again after announcing news about lurbinectedin at the IASLC 2020 World Conference on Lung Cancer.
Throughout this week, business results will continue to be published, with those of Santander, Unicaja and Liberbank here in Spain; or those of Amazon and Alphabet, on Wall Street.
PMI MANUFACTURERS AND VACCINES
On a macro level, the manufacturing PMIs for January have been released. In China, it was 51.5, below the previous month (53) and estimates (52.7). In the Euro Zone, it has risen slightly to 54.8 compared to the 54.7 expected and previously. And in Spain, it has fallen below 50 (which marks the border between contraction and expansion), to 49.3 (compared to 51 the previous month and the estimate of 50.9), due in part to the impact of the storm Filomena , in addition to the Covid.
On the pandemic, there is still talk of the chaos of vaccines, especially in Europe. The news this Monday, however, brings some hope. AstraZeneca has committed to delivering an additional nine million doses of the vaccine to the bloc in the coming weeks, and Pfizer and BioNTech will advance the supply of 75 million doses of vaccines to the European Union during the first quarter.
"A step forward in vaccines. AstraZeneca will deliver nine million additional doses in the first quarter (40 million in total) compared to last week's offer and will begin deliveries a week earlier than expected," said the president of the European Commission, Ursula Von der Leyen, on Twitter. "The company will also expand its manufacturing capacity in Europe," she added.
"Overall, we believe the news about vaccines remains positive, but we continue to monitor conclusions about vaccine efficacy against newer strains, which appears to be the biggest risk to the consensus narrative that we can leave the pandemic behind this year, "Danske Bank experts say in their daily report.
In addition, unemployment in the Euro Zone was announced this Monday (it closed 2020 with a rate of 8.3%). Tomorrow the GDP of the Euro Zone will be announced and on Friday, the US employment report for January. And on Thursday there will be a meeting of the Bank of England rates.
TECHNICAL ANALYSIS AND OTHER MARKETS
From a technical point of view, the Ibex closed last Friday with falls of 2.21% and ended January with falls of 4%. The selective is getting dangerously close to support at 7,663 points. "Beware that going below this price level would strongly complicate its technical perspectives, which would make us think of an extension of the falls to the level of 7,300 points, prices where the average of 200 sessions is found," says César Nuez analyst at Bolsamanía and head of Trader Watch.
In other markets, Brent oil rises 1% to $ 55.64, while the euro falls in value 0.4% to $ 1.2082. Furthermore, the profitability of the 10-year Spanish bond is trading at 0.1%.
