The Ibex 35 has fallen 1.63% at the start of the week, to 6,672.20 points, and continues to give off bad vibes. IAG airline has dropped sharply (-7%) after Boris Johnson said yesterday that they are considering quarantining the majority of people who enter the country by air to prevent a second pandemic outbreak. The CEO of the company has warned that due to this, they will have to review their plans to resume flights in July. Furthermore, Credit Suisse has cut the price of the airline holding company.
- 11.356,200
- 0,25%
Another very bearish value has been ArcelorMittal, which has plummeted 14% after announcing a capital increase of $ 1.85 billion to strengthen its balance sheet against Covid-19.
Amadeus (-3.7%) has also yielded strongly, despite the fact that UBS has raised its rating, or Merlin Properties (-3%), after a cut in the target price of Morgan Stanley to 10 euros.
It should be noted that Europe has started the day in a positive light and that it has gradually deflated. All this as restrictions by the coronvirus are relaxing around the world. This Sunday, the Prime Minister of the United Kingdom, Boris Johnson, announced provisional measures to reopen the economy and public life.
Meanwhile, in France, shops and hairdressers open this Monday and people no longer need travel permits. Toddler schools and kindergartens are also reopening. In Spain, half of the population has gone to phase 1 of the lack of confinement this Monday, with a relaxation of the measures as well.
The director of the Emergency Coordination Center of the Ministry of Health, Fernando Simón, said this weekend that possibly next week Madrid will join the oders in phase 1 as it has not yet fulfilled the necessary conditions for it.
From the US, the nefarious employment data that was released last Friday continues to affect, with 20.5 million people losing their jobs in April. US Treasury Secretary Steven Mnuchin has warned that unemployment figures could continue to "get worse." Mnuchin said Sunday that the unemployment rate may have already reached 25%, and that the administration is still working to reopen the country.
Business results will continue to be published this week. Today Almirall has reported a rise in its profit of 62.5% thanks to Covid treatment tests. Cepsa, meanwhile, has lost 556 million in the months up to March due to the "double crisis" of the virus and oil.
There is currently no more news on relations between the US and China. In other markets, Brent oil falls 2.5% to $ 30.20; and the euro depreciates 0.27%, up to $ 1.0810. In addition, the profitability of the Spanish 10-year bond remains at 0.86% and the risk premium remains at 139 points.
TECHNICAL ANALYSIS
"The Ibex rebounds 15% from the lows of March, the Dax 30%, the Cac 40 23%, the Euro Stoxx 50 (SX5T) 25% and the S&P 500 33%. And I think with this we can say the gap between our selective and the rest of the indexes gets a little wider, "says José María Rodríguez, analyst at Bolsamanía.
And while the falls of this Monday mean nothing to the European and Wall Street indices, in our case they're dangerously close to supports. And as we know for sure we already have one at 6,580 points, the bullish gap of a little over a month ago that was filled but was not closed. We must be very careful to drill it at closing prices, since a relapse into the area of the May lows of 5,800 points cannot be ruled out, "adds this expert.
