Day of generalized declines this Tuesday on the Ibex 35, which fell 1.55% at the close of the session, falling below the 8,900 points and already looking at the lows of the year. The rest of European stock exchanges also lived a day of losses, dragged down by the important falls suffered yesterday by Wall Street and the uncertainties around Brexit and Italy, waiting for what the European Commission (EC) will say tomorrow regarding its budgets.
- 11.100,800
- -0,48%
In the selective, the only positive exception of the day was DIA, which rose 6.81%, followed by Indra Sistemas (0.84%) and Mediaset (0.47%). As for the most bearish values, Acelormital led the losses, dropping 4.74%, followed by Merlin Properties (3.94%) and Acerinox (3.28%).
The large values of the selective also suffered losses, highlighting those of the banking sector, with Santander (-2.93%), Sabadell (-1.96%), Bankinter (-1.94%), Bankia (-1.69%). ), Caixabank (-1.37%) and BBVA (-1.19%) closing all negative. Today it became known that the political groups that debate the new mortgage law in Congress have decided to toughen the conditions in which a bank can execute a mortgage. When it comes into force, entities will have to wait a minimum of 12 months to be able to evict a client.
In the Continuous Market, Abengoa once again led the gains with its B shares, with increases of 44% and its A shares, of 18%, although Bolsamanía analysts pointed out this morning that the title needs to raise 300 % to recover the cent.
FALLS IN EUROPEAN STOCKS
The European stock markets also registered falls this Tuesday, with the German DAX losing -1.6% and the French CAC leaving more than 1%. On the Paris Stock Exchange, Renault continued dragging the falls yesterday by the arrest of its CEO, Carlos Ghosn (his partner in automobile conglomerate, Nissan, has cut 5% during the Asian session).
Experts warn that the feeling of risk is growing in markets around the world in the midst of political tensions of all kinds. From Brexit to the trade war, going through the problems with Italy, investors are opting to exercise extreme caution. "A huge gray cloud has settled on the stock markets and the mood is more to take refuge than to jump out," says the analyst Ramón Morell.
For the next few days, the markets will continue to pay attention to any news related to Brexit, with Italy - Italian markets have suffered a massive sale before the possible sanction of the EU - and also with the commercial relations between China and the US.
"The big questions that sensitize the investors' mood do not seem to be solved: the US and China trade agreements, the agony of a difficult process to reach a Brexit agreement, Italy's rebellious budgets, and what happens at the political level regarding the murder of Jamal Kassoghi in Turkey, with the CIA saying that he was the Crown Prince in person, "adds Morell.
MORE STRENGTH ON THE IBEX
Bolsamanía technical analyst José María Rodríguez stressed that the bullish gap of the Ibex has closed on Tuesday and the most important resistance becomes "the 'bearish gap' on Tuesday at 9,006 points." For Rodriguez "the sensations are not flattering" and it only remains to look at the rest of European markets.
The Cac 40, Dax 30 and Euro Stoxx 50 "have attacked the important support that they present at the October lows and for the moment they are bouncing from there, therefore, as long as they hold up (let's see what we have the closing of the weekly candle), because we have three sessions ahead and with Wall Street unsure for the bank holiday this Thursday and half a day for Friday's session, the European stocks decide to bounce, drawing us a double support (that does not double ground) ".
The analyst describes a different short-term outlook for the Ibex, which is showing somewhat more strength. "While Europe as a whole (minus the Portuguese stock market that has clearly marked new annual minimums) is respecting the October minimum, our selective quotation is almost 3% above those levels," said Rodríguez.
