The Ibex climbs 1.6% in June, but remains negative (-4%) in the year

Back to the session this Friday, Caixabank has been the one that has led the advances, with a rise of 3.3% to 3.7 euros. The entity shoots after announcing this Thursday, with the market closed, that it will sell Lone Star 80% of its real estate business and 100% of the real estate services company Servihabitat.

This advance has driven the rest of the selective banking entities. In fact, BBVA was the second highest value, 1.8%; followed by Banco Sabadell (+ 1.74%). Goldman Sachs has indicated that the sale of the brick of the Catalan entity would increase its profit per share. Banco Santander, for its part, has also closed positive, but with a smaller advance of 0.4%.

Another day we must talk about Natural Gas, now Naturgy, since this Thursday he presented his strategic plan and the market has valued it. This Friday, the company has risen 0.76%. Analysts have agreed to applaud the "generous" improvement of the dividend that was foreseen.

We must also highlight Telefonica, which has risen by 0.4%, since yesterday it secured the rights of the Champions League and the Uefa by 1.080 million euros for the next three seasons. A purchase that joins the LaLiga, "ensuring for José María Álvarez-Pallete 100% of payment rights in the residential market."

DIA has received a target price reduction from Renta 4 which, although it sees value in the company, does not recommend buying in the short term, as it considers that there will be widespread drops. The supermarket chain, which is the most value left in the first six months of the year, this Friday closed with 0.08%.

On the other hand, Mediaset has been the 'red lantern' of the session with a fall of 6.72% to 7.2 euros. The television company has lost the support of Morgan Stanley. Analysts at Morgan Stanley have also reduced Mediaset's recommendation to 'underweight', from 'equal to the market'. World Cup rights have not improved their stock market.

In the lower part of the table has been accompanied by CIE Automotive, which has been left more than 3%. This Friday it should be noted that they have listed 36 stocks, instead of 35, since Global Dominion has been introduced to avoid imbalances in the portfolios for the distribution of titles of its subsidiary that will be carried out by CIE Automotive

OTHER MARKETS

The rest of the European stock markets closed positively. The French CAC 40 has gone up by 0.9% and the German DAX 30, by 1.06%. For its part, the FTSE 100 in London has risen 0.28%. Wall Street quotes with increases, although the first half closed mixed.

In the commodities market, oil is trading with significant increases. The barrel of Brent, of reference in Europe, rises 2% to 79.5 dollars; while the West Texas barrel, benchmark in the US, advanced by 1.2% to $ 74.35. On the other hand, the euro continues to recover against the dollar. The community currency rises 0.86% to $ 1,1668.

Friday also has as protagonists the macro data, especially the CPI of the Euro Zone, which has advanced up to 2% in June, as expected. Core inflation has remained at 1.0% compared to 1.1% in the previous month, and also in line with estimates. "We insist that headline inflation will only remain at this level for a few months before declining again to around 1.5-1.6% as the base effects of energy prices disappear," note the experts from Danske Bank.

The week has been marked by the commercial tensions between the United States and China, one of the main issues that are putting pressure on the market and that is generating significant volatility. The administration of Donald Trump is ready to activate tariffs on Chinese products next Friday, July 6, which is expected to trigger a response from Beijing. Thus, this issue will continue to condition the markets in the short term and most experts consider that it will go on waiting for this response from China.

On the other hand, the European Council has reached an agreement on immigration after more than thirteen hours of meetings. "The leaders of the Twenty-eight have agreed to the conclusions of the European Council, including immigration," the president of the European Council, Donald Tusk, wrote on his Twitter profile.

The agreement is intended to restrict the movements of migrants within the bloc and create new "centers" to accommodate and process applicants of asylum. This European consensus on immigration could help Angela Merkel avoid the budding political crisis in her country. Merkel has come to this Council very pressured because the CSU, one of the parties with which it governs in coalition, wanted to radicalize its position on immigration in order to win voters in the elections that are held in Bavaria this summer.

TECHNICAL ANALYSIS

The Ibex closes the week and puts an end to the first half of 2018. "And it does it without giving us any more or less clear track of where the shots may go in the next sessions / weeks," says José María Rodríguez, technical analyst of Bolsamania. On the one hand, it is true that since the end of January we have impeccable decreasing maximums and thus we do not go up. "But because of it we have growing minimums and that way it does not fall," he says.

Somehow, we have the Ibex immersed inside a triangle where the range of fluctuation is narrowing little by little. "Until it jumps on one side or the other and there it will be (in theory) where we will have more clues about what the next great movement in trend may be like," says the analyst. At least, of everything that happened during the week, I am left with the fact that both BBVA, Santander and Telefónica have respected (dilatations aside) the important supports that present in the annual minimums. On the side of resistance, "the problem is that they are far from current levels, the first of them at 9,985 points and the most important at 10,290 points," concludes José María Rodríguez.