The Ibex (-0.87%) falls unlike Europe after the announcement of a PSOE-Podemos agreement

The Ibex has closed on Tuesday at the session lows after falling 0.87%, down to 9,306 points, after confirming the agreement between PSOE and Podemos to form a coalition government. The Spanish selective is thus falling behind the rest of European exchanges, which have traded in green throughout the session and have closed with a rise of 0.7% on average.

IBEX 35

11.154,600
1,56%

The Bolsamanía analyst, José María Rodríguez, explains that we will rarely see such a clear reaction from the market to political news. In fact, before knowing the agreement between Sánchez and Iglesias, the Ibex rose by 0.20% and at this time 0.76% falls, drilling the support of 9,328 points. "

"And this with the European exchanges trading near the highs of the day (+ 0.4%). It is key, critical, that the support of 9,200 points hold if we do not want to attend a worrying deterioration of our selective", adds the expert

The Spanish risk premium is also suffering and up 3%, to around 68 basis points. This rebound is higher than what other European countries such as Italy, Greece or Portugal are observing.

UNITED KINGDOM AND UNITED STATES

Outside of our borders, following the political message of the Bank of England last week, we were looking forward to the unemployment data in the United Kingdom. Finally, it has fallen to 3.8% in September while analyst estimates anticipated that the data would remain at 3.9%. In addition, also on the macro level, the German ZEW of November expectations has gone better than expected (-2.1 versus -13.2 and -22.8 above) while the current situation has gone worse than expected. expected (-24.7 vs. -22.3 and -25.3 above).

The market will also be aware of what Harker and Clarida, of the Federal Reserve (Fed) have to say. "We have updated our forecast on the Fed. Now we expect only one more rate cut in the next three to six months," they add from Danske.

Meanwhile, investors are still waiting for news about the trade talks between Washington and Beijing after President Trump denied Friday the claims of the Chinese Ministry of Commerce that the two sides had agreed to reduce existing tariffs. On the other hand, this Thursday ends the deadline for the US to decide whether to set tariffs of up to 25% on European cars, and everything seems to indicate that it will delay the decision again six months. What Donald Trump has to say about all these issues today - will appear at the New York Economic Club at 6pm Spanish time - will be followed with special attention.

The results are back in the spotlight today after Infineon has communicated a profit after taxes of the fourth quarter of 161 million euros, in line with expectations. In addition, Vodafone has presented results and improved forecasts, while Deutsche Post has exceeded analyst estimates by tripling the third-quarter operating profit, up to 942 million euros compared to 376 million euros a year ago.