The Ibex 35 has prolonged its upward rally (+ 1.37%, to 8,122.6 points) and has chained 4 positive days, in which it has risen more than 4% and has recovered the fall of January. All this thanks to the notable increases in banks (especially BBVA) and in the tourism sector, led by IAG and Meliá. While Cellnex, which yesterday announced a new capital increase, has led the decreases together with the electricity sector.
- 11.339,500
- 0,10%
The main protagonists of the day have been the banks. BBVA has shot up in the final stretch of the day and has dragged Santander and Sabadell up. Very good behavior also of the Italian banks, which have continued to react to the fact that Mario Draghi can be appointed prime minister.
In addition, the results are still being looked at, with Naturgy's results in Spain (it lost 347m in 2020 after a new asset depreciation in the fourth quarter). The company has taken advantage of the fact that its price is supported by IMF's partial takeover bid to clean up its balance sheet. Other companies that have published their figures at the European level are Deutsche Bank and Roche, among others.
MEETING OF THE BANK OF ENGLAND
The Bank of England (BoE) has been another of the protagonists of this session. The agency has decided to maintain the course of its monetary policy and its stimuli against the Covid-19 pandemic unchanged in its first meeting of the year, amid growing optimism about the prospects for the British economy in the short term, after the rapid deployment of coronavirus vaccines.
As expected by the market consensus, the entity's Monetary Policy Committee has voted unanimously to leave rates at 0.1%, while asset purchases will continue at 895,000 million pounds.
This Thursday the retail sales of the euro zone were also revealed, which closed 2020 with a fall of 1.2% after increasing by 2% in December compared to November, when the impact of the second wave of the pandemic caused a fall 5.7%. Compared to the last month of 2019, they were up 0.6%.
Another issue that has been discussed is the possibility that the Joe Biden government finally signs the aid package. The US president is determined to spend $ 1.9 trillion to help the American economy, but in the short term he may have to settle for a $ 618 billion package, which would have the backing of a group of Republican senators.
For the rest, it should be remembered that this Wednesday the ADP employment report in the US was published, a preview of the official data on Friday. The American economy created 174,000 jobs last month, according to this private consultancy, a figure that has clearly exceeded the forecast of 49,000. And weekly jobless claims have also dropped more than expected this Thursday.
For its part, while the 'Reddit-mania' is deflating, news is coming out that shows that those who have really benefited from GameStop have been large funds, not the investors who apparently acted altruistically and trying to save the company. US regulators are analyzing what has happened. In Spain, the CNMV has issued a message to retailers warning them that they must be extremely concerned about this type of conduct and ways of proceeding.
TECHNICAL ANALYSIS AND OTHER MARKETS
On a technical level, the selective struggles to close the bearish gap of last January 22. "In the short term, the key resistance is at 8,122 points. A close above this price level would be the signal that would make us think of an extension of earnings to the annual highs that it presents at 8,439 points. Below , the key support level is at 7,663 points ", explain the experts of Bolsamanía.
In other markets, Brent oil fell 0.4% to $ 58.28, while the euro fell in value 0.54% and trades at $1.1969. Furthermore, the profitability of the Spanish 10-year bond remains at 0.13%.
