The Ibex 35 has broken its excellent bull run of five consecutive days in positive, falling 0.25% to 9.510.30 points, after marking an intraday low at 9.476 integers. The rises has been moderate and the selective remains close to the annual highs recorded this Thursday. The index has risen 2.92% during the week and advances 11% so far this year.
- 11.100,800
- -0,48%
The most bullish values of the Ibex were Técnicas Reunidas (+ 2.5%), Viscofan (+ 1.5%) and Indra (+ 1.4%). Among the largest, Repsol has advanced 0.8%, followed by BBVA (+ 0.4%) and Santander (+ 0.2%). On a negative note, Acciona (-1.5%), Telefónica (-1.4%) and Cellnex (-1.3%) led the declines together with Inditex (-0.5%).
In the Continuous Market, MásMóvil has risen by 0.8% after being published that its CEO, Meinrad Spenger, received in 2108 a total remuneration of 13.2 million euros, by entering 12.23 million euros for the execution of a stock options plan last May.
In other markets, Brent oil rose 0.3% to 69.61 dollars, while the euro fell in value 0.05% to 1.1217 dollars. On the other hand, Spain's risk premium drops slightly to 110 points, while the yield on the Spanish 10-year bond eases to 1.10%.
BREXIT, EMPLOYMENT REPORT, TRUMP ...
Friday has had more news related to Brexit. Tusk offered Theresa May a "flexible" 12-month extension for Brexit. May, meanwhile, has asked the EU for the extension to be until June 30.
Brexit has undoubtedly been the topic of the week along with the trade negotiations between China and the US and the rumors about an imminent agreement. This Friday, the news is that both parties would have reached a "new consensus". Donald Trump has said that in the next four weeks it will be known if there is finally a pact between the two world powers.
In addition, the macro data has also been very present this week, especially the data related to Germany, which has once again disappointed. This Friday, the most relevant macro data was the US employment report for March, which has exceeded forecasts and confirmed that the weakness recorded in February has been temporary.
The Dow Jones marks annual highs on Wall Street and is close to its historical highs of last October. For its part, Trump has once again been the main focus because he has asked the Fed to lower interests to boost the American economy "like a space rocket."
"I personally think that the Federal Reserve should lower rates, it is holding us back, there is no inflation," Trump said on the Fed's monetary policy, which expects to keep interest at 2.25% -2.50% today. end of the year, according to the latest projections provided by the agency at its March meeting.
TECHNICAL ANALYSIS OF THE IBEX 35
"Good closing of the Ibex after all, since at some point in the session we have fallen by half a percentage point, but otherwise everything remains the same, we have a support, which can be sought in the coming days, in the bullish gap of this Wednesday (9,360) and as resistance and around the corner we have the area of 9,650 points: the upper part of the bullish channel in recent months ", explains José María Rodríguez, an analyst at Bolsamanía.
"The only 'but' within the current uptrend is that we go back into significant daily overbought levels, which in some way limits the ability to continue climbing positions without first taking a short break (reaction phase)," he adds. this expert.
"By values, we remain attentive to Santander, which has significant short-term resistance at today's highs (the bearish gap of 4.4230) and Inditex, which has tried to overcome the resistance at 27.07 euros (maximum annual), for the moment without success, if I could jump over in the coming days / weeks we will undoubtedly have an important signal of strength in what is the largest company in our market (by capitalization) and therefore for the Ibex too", concludes Rodríguez.
