The Ibex has managed to recover what was lost last week after finishing on Monday with a 4.7% rise, at the highs of the day. Recall that last Friday, at the weekly close, it abandoned the support it had at 6,580 points. The rest of the European stock markets have also done well and have advanced around 4% on average.
- 18.344,900
- 0,38%
Experts say that there is optimism among investors as countries unblock their activity, however, they also highlight that this weekend there have been protests due to concerns over the pace of the easing of the lockdown which for some is too slow.
Although without a doubt the news of the day is on the other side of the Atlantic. The modern American pharmacist has announced positive results of its vaccine against Covid-19. This has driven it close to 30% on the Wall Street open. Although at this time on Monday it has deflated slightly and its shares are up about 23%.
In the Spanish market -and in five other European markets- the news of the morning is the decision of the National Commission of the Stock Market (CNMV) to lift the veto on the shorts from this Tuesday. Within the selective, strong increases in IAG (+ 11.20%) and Meliá (+ 9.15%), two of the values most affected by this crisis, stood out today.
On the other hand, today the markets have reacted to the words of the president of the Federal Reserve (Fed), Jerome Powell who spoke on Sunday. Powell said on CNBC that "in the long, and even the medium term, you would not want to bet against the American economy. The American economy will recover."
"Assuming there is no second wave of coronavirus, I think they will see the economy recover steadily during the second half of the year," he added. However, he warned that "for the economy to fully recover, it will have to wait for the arrival of a vaccine."
At the business level, this Monday we highlight the results of Ryanair. Net profit for fiscal year 2020 fell 27% amid the coronavirus pandemic and higher costs. The airline has anticipated losses for the first two quarters of this fiscal year.
On the other hand, tensions between the US and China are again in the spotlight this week. The Trump administration stepped up its campaign to blame China for the coronavirus pandemic. Peter Navarro, an adviser to the president, has suggested that Beijing sent airline passengers to spread the infection worldwide. China, meanwhile, criticized the new restrictions on US exports targeting companies like Huawei Technologies, and pledged to take all necessary measures to defend its companies. Finally, US Secretary of State Mike Pompeo warned China not to interfere with the work of American journalists in Hong Kong.
To all this is added that Great Britain is the last focus of the hopes of the Covid-19 vaccine, since AstraZeneca aims to make up to 30 million doses available to the country by September, and has promised to deliver 100 million dose this year, if the inoculation - which is already being studied in humans - is successful, reports Bloomberg.
TECHNICAL ANALYSIS
"The Ibex closes strongly with rises and at the maximum of the session. And it manages to do so supported mainly by companies related to the tourism sector (IAG, Amadeus) and the financial sector, which as we know is one of the two great engines of our The other motor is the electric / energy one, that of the 'utilities' ", explains José María Rodríguez, technical analyst at Bolsamania.
"The really important thing is that we saved a match ball, a 'match ball' seen the closing of the Ibex last week. And it leaves the door open for us to try to attack again the important resistance we have at 7,210 points, the April highs, "he adds.
"Only by closing above this resistance will we have the confirmation of the start of a new bullish momentum that can end up leading us to 8,000 points, coinciding with an adjustment / fall of 50% of the previous strong correction. Below, on the side of the supports, the key is now at the lows of last week at 6,420 ", ends the expert.
