The Ibex 35 dropped 0.83% to 8,812.50 points, dragged down by another bust of Inditex (-3.87%) after the warning of profits launched by the British retailer Asos. In addition, the airline IAG (-3.62%) has also been one of the worst values because of the uncertainty concerning Brexit. Although, one more day, the most pronounced fall has been from DIA, which will soon abandon the selective.
- 11.154,600
- 1,56%
On the supermarket chain, Bolsamanía has published that the Citadel hedge fund has doubled its bearish bet on the supermarket chain above 1%. The shares of DIA have crashed 10.64%, to 0.447 euros.
Asos, which sells clothing and cosmetics over the Internet, has cut its forecast of sales increase for the year to 15% from a range of 20% -25%. This announcement has come as a surprise and confirms the weakness of the retail sector, especially in the United Kingdom.
The cuts in Asos, which has plummeted by 38%, have also dragged other colleagues in the sector, such as H&M, which has dropped by 8% after publishing its sales for the fourth fiscal quarter.
For its part, Indra (-2.85%) has registered bearish pressure after thanks to a rating cut by Morgan Stanley. Santander has fallen by 0.8% and Repsol by 0.54%. Brent oil yields 1.1%, up to $ 59.60.
On a positive note, Iberdrola (+ 0.97%), Telefónica (+ 0.46%) and Endesa (+ 0.19%) have prevented the Ibex from falling further.
FED WEEK
The week will be full of important events, starting with the Federal Reserve meeting (the conclusions will be known on Wednesday) and after the Bank of England meeting on Thursday. In addition, we will continue talking about Brexit (the idea of a new referendum is becoming more and more powerful). All this, in the week before the Christmas holidays.
"The key market issues are still Brexit and trade talks between the United States and China, and markets will also be watching the Fed meeting on Wednesday, although an increase in interest rates is expected, the focus will be on in the monetary policy signals for 2019, "say the Danske Bank experts in their daily report.
"The last two weeks of the year are not usually the most exciting for the markets, but with the Brexit debacle and the Federal Reserve and the Bank of England meeting this week, we may still not be in full vacation mode "adds Craig Erlam, an expert from Oanda.
Regarding the macro data of this Monday, the monthly CPI in the Euro Zone fell by 0.2% in November, in line with what was expected, compared to + 0.2% previously. In the currency market, the euro appreciated 0.3% against the dollar, up to $ 1.1343.
TECHNICAL ANALYSIS OF THE IBEX 35
"In view of the daily chart, we can see how we have the Ibex in no man's land, halfway between the support of 8,627 points (October minimums) and the resistance of 9,250-9,300 points. This price range has no implications of any kind, "says José María Rodríguez, an analyst at Bolsamanía.
"Above the 9,300 points we will have a return figure, but if we drill the annual minimums, the next support is at 8,500 points, and below the Brexit minimums (7,600)," adds this expert.
"In the end," Rodriguez argues, "the Dax seems to be heading irremediably to the level of 10,000 points (the height of the 'head' of a large 'head and shoulder') and let's see what Wall Street tells us. The S & P 500 is drilling the base of the wide lateral movement and seems to want to set course for the February minimums at 2,532 points. "
"What's more", he concludes, "apart from the rebounds, it can be said that the main index of the world (S & P 500) seems to be giving shape to another great figure of bearish implications with a target of 2,300 points, everything still presents a technical aspect that is more than worrisome".
