The Ibex closed flat at 9,204 points. During the day he managed to get close to the resistance of 9,260 points, although it has finally deflated. Thus begins a week that will be marked by Brexit and by a possible trade agreement between China and the United States. In fact, the optimism around this second issue has boosted Asian stock markets with the Chinese Shanghai rising in value 5% this morning.
- 11.362,800
- 1,10%
"In theory, closing above (9,260 points) with ease at closing prices should be interpreted as a sign of strength (for the Ibex) and if it is able to jump over clearly, it will be. This is because it would serve to build a new growing minimum and that is always positive, but we would get tired ", warns José María Rodríguez, expert of 'Bolsamanía'.
COMPANIES AND OTHER MARKETS
In business, the issue in Spain is still that Abanca intention to launch an OPA on Liberbank. The National Securities Market Commission (CNMV) has informed Abanca that it cannot condition the launch of the OPA to an access to the books and has given a period of ten days to clarify whether or not to launch the offer . Liberbank has lost 0.47% on the stock market, although it has fallen more than 3%; while Unicaja has risen by 4.29%.
Regarding the presentations of results, today it was the turn of Cie Automovil, which obtained a net profit of 396.8 million euros in 2018, 84% more than in 2017 The manufacturer of automotive components has been the most bullish value Ibex with a 3.52% rebound.
Almirall has also presented its accounts for the previous year, in which it reaped a profit of 77.7 million euros, compared to the losses of 304 million registered the previous year. Given these figures, the shares of the company have rebounded 4.02% in the Continuous Market.
In other markets, the barrel of Brent crude, a benchmark in Europe, has lost more than 3% at the end of the Spanish market, to $ 64.92, after US President Donald Trump asked the OPEC to relax oil prices. In the currency market, the euro has been exchanged for $ 1,1356.
TRADE WAR AND BREXIT
Regarding the trade war, Trump announced he would delay the deadline of March 1, on the intentional increase of tariffs on Chinese products. Both countries are still working to reach a trade agreement. If a pact is reached, he said there will be a summit with Chinese President Xi in March.
The US president tweeted that the two nations have had "productive negotiations" on some of the complicated issues that divide Washington and Beijing, before adding: "I will delay the tariff increase by the United States now scheduled for March 1."
Meanwhile, the political uncertainty about Brexit persists, although an extension of article 50 is very likely at this point which invites to some optimism. The British prime minister, Theresa May, has delayed the vote in the Parliament scheduled for this week to March 12. The departure of the United Kingdom from the European Union is scheduled for March 29.
"The pound remains stable at $ 1.3065 Sterling traders are taking a clearly optimistic approach, as Theresa May is expected to update Parliament on its progress in the talks with Brussels to modify the agreement. Theresa May has also said she will hold a meaningful vote in Parliament on March 12, just two weeks before the UK leaves the EU, which runs the risk of infuriating ministers who are already willing to rebel against it, "says Jasper Lawler, chief analyst at London Capital Group.